TaxTMI 
TaxTMI 
2025 (2) TMI 1635
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..../- without distinguishing the case laws relied by the assessee in support of its contention. 2 The Ld. CIT(A), NFAC has erred on facts and in law in upholding the action of AO in denying assessee's claim of exemption u/s. 11 & 12 of the Act on the ground that as on the date of grant of registration u/s. 12AA(1)(b) of the Act the assessment was not pending ignoring that assessee has filed appeal before the Ld. CIT(A) which is in continuation of the assessment proceedings and thus pendency before Ld. CIT(A) is to be considered as pendency before AO since power of Ld. CIT(A) is co-terminus with that of AO and thus first proviso to section 12A(2)of the Act is applicable on assessee as held in various case laws. 3 The appellant craves to alter, amend & modify any ground of appeal. 4 Necessary cost be awarded to the assessee." In ITA No. 1095/JP/2024 (2015-16), the assessee has raised the following grounds of appeal: 1. The Ld. CIT(A), NFAC has erred on facts and in law in confirming the validity of notice issued u/s. 148 of the Act and the consequent order passed u/s. 147 of the Act ignoring that second proviso to section 12A(2) specifically pr....
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....eposited total cash of Rs. 1,57,27,118/- in its saving account during the year under consideration. It was observed that the assessee was not registered under u/s. 12A of the Act. The assessee has shown surplus of Rs. 95,37,162/- in its Income & Expenditure Account, which exceeds the limit which is not chargeable to tax, i.e. Rs. 1,80,000/-. In view of these facts, a notice was issued u/s. 148 of the Act vide dated: 27.03.2019. In compliance to the same the assessee filed its return of income at Rs. NIL on 14.11.2019. As the return of income was filed beyond the time prescribed, the same was treated as invalid. Ultimately, the assessment of the assessee was completed u/s. 147 r.w.s. 143(3) & 144 of the Act at Rs. 95,41,096/- (being surplus after considering the gross receipt and revenue expenditure incurred). The assessee being aggrieved with the same filed an appeal before the Ld. CIT (A), who in turn confirmed the actions of the AO. The assessee being further aggrieved preferred the present appeal before us. 3. We have gone through the order of the AO, order of the Ld. CIT (A) and submissions of the assessee alongwith grounds taken before us. Considering the nature of matter a....
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....f each school under its umbrella has gross receipt below 1 Cr. is not under dispute by the Revenue also. 5. In the light of above facts, it is pertinent to mention here that as per Rule 2BC of the I.T. Rules, 1962 for the year under consideration the prescribed limit was Rs. 1 Cr. and there was an amendment brought into the section by the Finance Act, 2021 w.e.f. A.Y. 2022-23. By virtue of this amendment, position has been changed in terms of eligibility of the assessee, i.e. earlier each institution under the assessee is to be counted for the purposes of this section and each institution has limit of Rs. 1 Cr. in the relevant year, whereas after this amendment the total gross revenue is to be considered for the purposes of this section to claim blanket exemption. 6. To strengthen its claim the assessee relied upon the following judicial pronouncements as under: Manas sewa samiti vs. Addl. CIT 284 Taxman 418 (All.) Dr. Banumaiah's Educational Institution vs. ITO (E) [2024] 205 ITD Param Hans Swami Uma Bharti Mission vs. ACIT [2013] 140 ITD PKD Trust vs. ITO [2017] 163 ITD 502 [2013] 34 taxmann.com 285 (Kar.) CIT, Central Circle vs.....
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....l educational institutions run by the assessee-society, they could have said so in clear terms. On contrary what is stated in the section is the aggregate annual receipts of such university or such educational institution referring to other educational institution. Other educational institution is to be understood with the context of the first word, i.e., the university. Both the university and any educational institutions, education is imparted. The university is a statutory body. But there are a number of educational institutions which are not run by a statutory authority which are imparting education; the word 'other educational institution' has to be understood in the context of other than any university. In an educational institution the amount is calculated periodically. It may be calculated under different heads. All such amount received constitutes receipts and those receipts may be received throughout the year. Therefore, the word 'annual' has been inserted. But to be eligible for exemption, aggregate of annual receipts should not exceed Rs. 1 crore, i.e., the total annual receipts of a year if it does not exceed Rs. 1 crore, then the income derive....