9911796707
TMI Blog2023 (6) TMI 169X X X X Extracts X X X X X X X X Extracts X X X X ..... us donation without availing the registration u/s 12AA. But the unverified corpus donation is the moot point of the grievance of the revenue. The assessee filed a written submission with details of the payment and assessee is also interested re verification of the evidence before the ld. assessing authority. DR had not made any strong objection against this assessee s submission. Accordingly, the matter is remitted back to the ld. AO for further verification of the corpus donation received by the assessee for this impugned assessment year. Appeal of the assessee allowed for statistical purposes. - I.T.A. No. 344/Asr/2016 - - - Dated:- 15-5-2023 - DR. M. L. MEENA , ACCOUNTANT MEMBER AND SH. ANIKESH BANERJEE , JUDICIAL MEMBER For ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rity that they made corpus donation supported by the affidavits along with relevant evidence of donation made by them to the society to the assessing authority during the assessment proceeding and Ld CIT(A) erred in confirming in the same. 4. That the amount of donations received as corpus fund were duly utilized for construction of school building as per the objects of the society and confirmation of addition by Ld CIT (A) is opposed to facts and law and circumstances of case. 5. Ld CIT (A) completely ignored the facts, supported with decided case law that corpus donations are capital receipts and confirmation of addition is bad in law. 6. That order pass by Ld CIT (A) is bad in Law. 3. Brief fact of the case is tha ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Smt. Shanti Devi Educational Trust, 409 ITR 522 (P H). As per the order of Hon ble jurisdictional High Court, the assessee has not barred for taking corpus donation related to claim of exemption u/s 10(23C) though the assessee has not registered u/s 12AA. The ld. AR pointed out that the assessee s gross receipt is below Rs. 1 crore. So, the assessee is eligible to take corpus donation without availing the registration U/s 12AA of the Act. 5. The ld. DR argued first pointed out that the entire corpus donation amount to Rs.97,42,782/- was added back due to lack of verification. The ld. DR invited our attention in assessment order page no. 5. The relevant paragraph is extracted as below: The counsel of the assessee filed 36 affidav ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r book which is kept in the record. The ld. AR submitted that the assessee is eligible the exemption u/s 10(23C) as the gross receipt is below the Rs.1 crore during impugned assessment year. The assessee is eligible the corpus donation though the assessee is not holding the registration u/s 12AA. From the factual matrix and considering the order of the revenue authorities, it is found that the grievance of the revenue is related to unverified corpus donation. The entire corpus donation was taken in the total income and was taxed accordingly. There is no point that the assessee cannot take the corpus donation without availing the registration u/s 12AA. But the unverified corpus donation is the moot point of the grievance of the revenue. The ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
