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TMI Blog2022 (12) TMI 994X X X X Extracts X X X X X X X X Extracts X X X X ..... treated as income. However, the scheme of Income Tax u/s 11 to 13 of the Act provides a mechanism for assessment of income from property held by a charitable or religious trust. A perusal of Section 11(1)(d) of the Act would indicate that if any voluntary contribution is being received by a trust or institution with a specific direction that such contribution will be part of corpus then, it will be credited to a separate account meant for construction of building or any infrastructure. In other words, it can be treated as a capital contribution towards the corpus of the trust. Perusal of Section 12A of the Act would indicate that before claiming any exemption from taxability of income u/s 11 or 12 of the Act, the assessee should be regis ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the Income Tax Act, 1961 (in short the Act ) for the Assessment Years 2012-13 2014-15. There is a delay of 71 days in filing of these appeals by the assessee. After perusing the petition for condonation for delay, we are convinced that the assessee was prevented by sufficient cause in filing the appeals in time. Hence, we condone the delay and admit these appeals. 2. The grounds of appeal taken by the assessee are verbatim for both the Assessment Years. Though it has taken three grounds of appeal but its sole grievance revolves around a single issue, namely, the ld. CIT(A) has erred in not granting exemption u/s 10/11 of Rs.34,15,500/- Rs.31,20,000/- in Assessment Year 2012-13 2014-15 respectively, which was alleged to be rece ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Educational Trust ITA No. 5082 (Delhi) 2010 *Chandraprabhu Jain Swetamber Mandir vs. Asst. CIT (2016) 050 ITR (TRIB) 0355 * ITO vs. Gaudiya Granth Anuved Trust (2013) 038 ITR(Trib) 0161 7. On the other hand, the ld. D/R drew our attention towards the definition of income available in Section 2(24)(ii) of the Act. He also drew our attention towards Section 11(1)(a) as well as 12A of the Act. He submitted that, Section 12A of the Act specifically postulate that unless an assessee being a Trust or Institution is registered with the Income Tax Act u/s 12AA of the Act, it is not entitled for the benefit of Section 11(1)(d) of the Act. 8. We have duly considered the rival contentions and gone through the record carefully. There is no ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... they shall form part of the corpus of the trust or institution [subject to the condition that such voluntary contributions are invested or deposited in one or more of the forms or modes specified in sub-section (5) maintained specifically for such corpus]. Section 12A :- 12A. 79[(1)] 80The provisions of section 11 and section 12 shall not apply in relation to the income of any trust or institution unless the following conditions are fulfilled, namely:- (a) the person in receipt of the income has made an application for registration of the trust or institution in the prescribed form81 and in the prescribed manner to the 82[***] 83[Principal Commissioner or] Commissioner before the 1st day of July, 1973, or before the expiry of a ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... aving any registration, the grant/non-grant of such registration is not in dispute, therefore, there is no necessity to make reference to Section 12AA of the Act. As far as the reliance placed by the ld. Counsel for the assessee on the order of the Delhi Bench of the ITAT in the case of Smt. Basanti Devi and Shri Chakhan Lal Garg Educational Trust (supra) is concerned, the ITAT Delhi Bench had given its finding relying upon the order of the Hon ble Delhi High Court. The finding of the Tribunal reads as under:- 11. The Hon'ble Delhi High Court, vide its order dated 23.9.2009, in ITA No. 927/09 (supra), have dismissed the Department's appeal against the aforesaid Tribunal order, by observing as follows:- The respondent/assesse ..... X X X X Extracts X X X X X X X X Extracts X X X X
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