9911796707
TMI Blog2023 (3) TMI 1151X X X X Extracts X X X X X X X X Extracts X X X X ..... ee towards earning of the income. The income has been defined in section 2(24) of the Act., the income should be construed in its general meaning but not to the entire receipts, if the assessee has incurred any expenditure towards earning the income, in such case, the assessee is entitled for deduction of expenditure incurred as prescribed in the Income Tax Act. There may be disallowances of the expenditures, which are not in conformity within the provisions of the Income Tax Act. Assessee filed return of income belatedly as per section 139(4) of the Act. The section 139(4A) of the Act prescribes that all other provisions of the Act shall apply as if it were a return required to be furnished under sub-section (1) of section 139 of the Ac ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t are opposed to law, equity, weight of evidence, probabilities, facts and -stances of the case. 2. The learned CIT[A] is not justified in upholding the determination of income of the appellant at Rs. 10,22,94,076/- as opposed to the excess of expenditure over income of Rs. 6,62,324/- as per the financials for the year under appeal and the ITR filed claiming application of Rs 10.29,56,400/- under the facts and in the circumstances of the appellant's case. 3. The learned CIT [A] is not justified in upholding the disallowance of the exemption claimed u/s.11 of the Act, on the ground that the return was not filed in accordance with the Provisions contained in Sec. 12A[1][ba] of the Act i.e. within the 3ue date u/s 139[4A] of the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... -B and 234-D of the Act, which under the facts and in the circumstances of the appellant's case and the same deserves to be cancelled. 7. For the above and ether grounds that may be urged at the time of hearing of the appeal, your-appellant humbly prays that the appeal may be allowed and Justice rendered and the appellant may be awarded costs in prosecuting the appeal and also order for the refund of the institution fees as part of the costs. 2. The brief facts of the case are that the assessee is a Trust registered u/s. 12A of the I.T. Act, 1961 vide registration No. DIT(E)BLR/12A/H-446/AAATH7337K/ITO(E)-1/Vol2008-09 dated 29.08.2008. The assessee filed return of income on 19.03.2019 claiming exemption u/s. 12AA of the Act. Th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of Section 139(4A). The appellant is a trust engaged in providing education but has not complied with the Provisions of Sec.12A(1)(ba) of Income Tax Act thai, disqualifies him from availing the exemption. 5.2 The appellant has raised an issue that the disallowance made u/s.143(1 )(a) is not correct because the said section does not empower the A.O. to make the adjustment as in the case of the appellant. However, this contention of the appellant is not correct it is observed that the appellant has been informed while processing of the return that the claim of exemption is incorrect as contemplated in the Provisions of Section 143(1 )(a)(ii) i.e. the claim made is incorrect. There is also no dispute if the return filed is late then the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hich has not been disposed off yet. The assessee has fulfilled the conditions as specified in CBDT circular No.06 of 2020 dated 19.02.2020. She also submitted that Shri H.V Anasuyamma, who is aged about 70 years was suffering from severe low back pain and chronic Multiple Joint Arthritis with neuritis since 15th September and doctor advised for physiotherapy for about six months until March, 2019. Therefore, the assessee had genuine hardship for not filing return of income within the time specified. The ld.AR for the assessee also submitted that the tax should be charged only on the net income but not on the entire gross receipts of the assessee. 6. The ld. DR relied on the order of the lower authorities and he submitted that the assesse ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ,51,999.00 Application Admission Fees 4,90,600.00 Tuition Annual Fees 7,17,92,051 .00 Other Fees 5,95,206.00 Transport Fees 1,04,27,081.00 Events Projects Fees 64,000.00 Miscellaneous Income 4,31,000.00 OCEP fee 17,24,235.00 8. From the above, it is clear that the above receipts includes bank interest of Rs. 24,94,862/- and we noted that in over all, the Trust is in loss for the year of Rs. 6,62,323.82/- The income tax is ..... X X X X Extracts X X X X X X X X Extracts X X X X
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