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TMI Blog2021 (9) TMI 1486X X X X Extracts X X X X X X X X Extracts X X X X ..... n of income which is evident from the balance sheet and computation of income. Thus, Ground No. 2 of the Revenue s appeal is dismissed. Inter organization donation received - ITAT upheld the findings of the CIT(A) when such additions made was found to be untenable. The facts are similar in the present assessment year 2014-15, hence Ground No. 3 of the Revenue s appeal is dismissed. Corpus donations are not the income since it has been specifically received by way of corpus and this view is upheld by the Tribunal in A.Y. 2010-11. Thus, Ground No. 4 of the Revenue s appeal is dismissed. Revenue has not pointed out any distinguishing facts in the present Assessment Year to that of earlier Assessment Years. Therefore, all the grounds ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... colleges for imparting education and also medical aid to the needy. The assessee trust is registered u/s 12A of the Income Tax Act, 1961 with the Commissioner of Income Tax, Meerut vide SI. No. 11/89-90, C.N. 40(3)/ Registration/Rishikesh/81-90/C.I.B. /22448 dated 31.01.1990 w.e.f. 01.04.1989. The Assessee trust furnished its return of Income for A.Y. 2014-15 on 29.09.2014 claiming entire income of Rs. 15,38,18,534/- as exempt income. Audit Report in form No. 10B was attached with the Return of Income. The Assessing Officer made addition of Rs. 17,15,732/- thereby disallowing the surplus received during the year. The Assessing Officer also disallowed depreciation of Rs. 22,90,026/- as well as organizational donation of Rs.49,93,587/- and co ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s appeal in the present Assessment Year 2014-15 is dismissed. As regards to Ground No. 2, the CIT(A) s finding for A.Y. 2010-11 which was decided in favour of the assessee by the Tribunal. In fact, during the year under consideration, the assessee in its books of account claimed depreciation of Rs. 22,90,026/- on the movable assets of the Trust, however this depreciation amount was added back in the return of income and was not claimed as application of income which is evident from the balance sheet and computation of income. Thus, Ground No. 2 of the Revenue s appeal is dismissed. As regards to Ground No. 3, the Tribunal in A.Y. 2010-11 while upholding the deletion made against the inter organization donation received and upheld the findin ..... X X X X Extracts X X X X X X X X Extracts X X X X
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