TaxTMI 
TaxTMI 
2026 (8) TMI 186
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....9-2020 the assessee has raised the following grounds of appeal: 1) The order of the learned CIT (A) is erroneous both on facts and in law. 2) The learned CIT (A) erred in confirming the action of the Assessing Officer in making various adjustments while processing the return of income u/s. 143(1) of the I.T. Act. The learned CIT(A) ought to have observed the facts that no opportunity was provided before making adjustment 3) The learned CIT (A) erred in not directing the Assessing Officer to allow exemption u/s. 11 of the I.T. Act. 4) The learned CIT (A) erred in confirming the action of the Assessing Officer in not allowing expenditure of Rs. 1,29,35,611/- without considering the fact that the expenditure....
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....e charitable in nature. The assessee filed an application for registration u/sec. 10A on 31.03.2022 and provisional registration was granted while issuing Form-10AC dated 07.04.2022. Thereafter, regular registration was granted by issuing Form-10AD dated 13.01.2026. Thus, the learned Authorised Representative of the Assessee has submitted that in view of second proviso to sec. 12A(2) as exist prior to its omission by Finance Act, 2023 the benefit of sec. 11 and 12 shall apply in respect of any income derived from the property held under the Trust of any assessment year for which assessment proceedings are pending before the Assessing Officer as on the date of such registration. He has further submitted that though the return was processed b....
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....lied upon the impugned order of the learned CIT(A). 6. We have considered the rival submissions as well as relevant material on record. As regards the claim of the assessee for exemption u/sec. 11 and 12 in view of second proviso to sec. 12A(2) as exist prior to its omission by Finance Act, 2023 the same is available in respect of the income derived from the asset held under Trust for any preceding assessment year assessment proceedings of which are pending before the Assessing Officer as on the date of registration. Thus, the said benefit is provided under second proviso only in the cases where the assessee has already applied for registration but the same is yet to be granted and if the registration is granted before any preceding asse....
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.... so all the allowable expenditure should be deducted from the gross receipts. In this view of the matter and considering the facts and circumstances of the case, the Assessing Officer is directed to verify and allow the expenses as per law against the gross receipts and then assess the income of the assessee after giving proper opportunity of hearing to the assessee before passing the fresh order. 8. In the result, appeal of the assessee for the assessment year 2019-2020 is allowed for statistical purposes. ITA. No. 1991/Hyd./2025 - A.Y. 2020-2021: 9. The assessee has raised the following grounds of the appeal: 1) "The order of the learned CIT (A) is erroneous both on facts and in law. 2) The learned CIT (A) erred....
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....arned CIT (A) is erroneous both on facts and in law. 2) The learned CIT (A) erred in confirming the action of the Assessing Officer in making various adjustments while processing the return of income u/s. 143(1) of the I.T. Act. 3) The learned CIT (A) erred in not directing the Assessing Officer to allow exemption u/s. 11 of the I.T. Act. 4) The learned CIT (A) erred in confirming the action of the Assessing Officer in not allowing exemption u/s. 11 of the I.T. Act 5) The learned CIT (A) ought to have considered the fact that even in case the exemption u/s. 11 of the I.T. Act is not available only the net income can be brought to tax and the Assessing Officer is not justified in treating the gross receipt....