2025 (2) TMI 1802

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....No. as stated below: - ITA No. & A.Y. DIN & Order No. Dated ITA No. 69/VIZ/2024 ITBA/APL/S/250/2023-24/1059337145(1) 03.01.2024 ITA No. 70/VIZ/2024 ITBA/APL/S/250/2023-24/1059329289(1) 03.01.2024 2. Since the issue raised by the assessee for both the appeals are identical in nature, these appeals are clubbed and a consolidated order being passed. We now take up the appeal in ITA No. 69/VIZ/2024 as a lead appeal. ITA No. 69/VIZ/2024 (A.Y. 2020-21) 3. This appeal is filed by the assessee against the order of Ld. CIT(A) vide DIN & Order No. ITBA/APL/S/250/2023-24/1059337145(1) dated 03.01.2024 for the A.Y. 2020-21 arising out of the intimation passed under section 143(1) of Income Tax Act, 1961 (in short 'Ac....

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....titled for the benefit u/s 11 of the IT Act even in such situation also the entire receipts of the assessee society should not suffer to tax. Instead, Ld. CIT(A) ought to have given a finding that the normal provisions of the computation of tax should be applied to tax the excess of income or expenditure if any. 3. The Ld. CIT(A) ought to have considered contention of the assessee that Assessing Officer was obligated to have considered its claim for deduction of expenses as per expenditure account while arriving taxable income. 4. The Ld. CIT(A) ought to have known that income received coexists with corresponding expenditure and when these two are correlated with each other there remains net gain or net loss and in the eve....

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....r book. On this issue, he relied on the decision of the Co-ordinate Bench of the Tribunal in ITA No. 35/CTK/2021 order dated 09.03.2022 in the case of Joharimal High School v. ITO (Exemptions) and further placed reliance on the decision of the Delhi "SMC" Bench in the case of Shri Sanatan Dharam Mandir Sabha v. ITO in ITA No. 5791/Del/2019 order dated 13.04.2022. 9. Per contra, Ld. Departmental Representative [hereinafter in short "Ld.DR"] fully supported the orders of the Revenue Authorities. 10. We have heard both the sides and perused the material available on record. In the instant case, it is an undisputed fact that assessee is not Registered under section 12AA of the Act. However, the assessee claimed exemption under section 11 ....