9911796707
TMI Blog2023 (9) TMI 611X X X X Extracts X X X X X X X X Extracts X X X X ..... CIT(A) that the addition made by the Ld AO u/s 37(1) was accepted by the appellant, thus, also accepted the fact that the assessee has income from business and profession. Moreover, to fit into the definition of Charitable purpose as per section 2(15) of the Act, the appellant was required to fulfill certain prescribed conditions. The appellant was failed in establishing during the penalty proceedings before AO, as well as before the Ld CIT(A). We therefore are of the considered opinion that Ld CIT(A) had correctly appreciated the facts of the case in confirming the penalty imposed by the Ld AO u/s 44AB. We uphold the order of Ld CIT(A), in terms of our observations herein above. Thus, ground of the assessee on the sole issue perta ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ly be cancelled. 2. At the outset the registry pointed out that the appeal filed is delayed by 29 days. Ld AR on behalf of the assessee submitted that the Smt. Bhavna Bohra, President was fall on the ground, keeping unwell, had back pain and was unable to work. Supporting affidavit from the President of the assessee institute along with doctor s prescription advising 3 months rest are submitted. It was also the submission of the Ld AR that the Counsel of the assessee foundation CA Dipesh Sancheti s mother was also suffering with cancer and was under hospitalization during the period from 28.03.2023 to 25.04.2023 and thus, he was unbale to pay attention in filing of the appeal within the stipulated time. Ld AR requested that under such co ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ion u/s 12AA of the Act was granted to the assessee from AY 2018-19, therefore provision of section 2(15) of Act as claimed by the assessee is not applicable during the year under consideration. Ld AO with such observation, imposed penalty u/s 271B of the Act on the assessee. Aggrieved with the penalty order assessee preferred an appeal before the Ld CIT(A), but with no success the appeal of the assessee was dismissed by the Ld CIT(A) accepting the findings of the Ld AO. 4. Dissatisfied with the order of Ld CIT(A), the assessee has filed this appeal before the ITAT. 5. Starting the argument, Ld AR submitted that the assessee trust/society had applied for the registration u/s 12AA which was granted to it on 18.12.2017 effective from AY ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rplus of Rs. 80,751/- as taxable income. It is also a fact that the assessee was in position of registration u/s 12AA dated 18/12/2017 when the return for AY 2017-18 was filed on 15-03-2018. Further an addition proposed by the Ld AO u/s 37(1) was accepted by the assessee, which was further agreed to when a rectification application u/s 154 for mistake in figure of addition was sought by the assessee and the same was rectified by the AO u/s 154. Ld Ao had categorically observed that the assessee trust has a certificate u/s 12AA but the same is effective from AY 2018-19, also the assessee had not claimed any exemption u/s 11 and 12 of the Act. Therefore, the case of the assessee for the year under consideration is treated as business case. Su ..... X X X X Extracts X X X X X X X X Extracts X X X X
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