9911796707
TMI Blog2024 (8) TMI 1022X X X X Extracts X X X X X X X X Extracts X X X X ..... expenditure incurred during the year on imparting training and other expenses to attain the objective of the society, net balance amount was shown as liability under the head Grant Account in Schedule B of the Balance Sheet. After going through the entire details, we find that the disallowance has been made by the CPC and confirmed by the CIT(A) owing to wrong filling of the relevant column in the Income Tax Return. We also find that the A.Y. 2018-19, the ld. CIT(A) has duly allowed the exemption. Hence, we hold that the wrong filling of a column in the return cannot take away the benefit which is otherwise statutorily available to the assessee . Hence, the AO is directed to rectify the order of the CPC and nullify the demand. Appeal assess ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he government. 4. BECAUSE the Id. CIT(A) has erred in law in holding that the appellant was required to furnish audit report in Form No. 10BB under the tenth proviso to clause (23C) of Section 10 of the Act as per Rule 16CC of the Income Tax Rules, 1962. 5. BECAUSE the Id. CIT(A) has erred in law and failed to appreciate the fact that Form No. 10BB is required to be submitted electronically in the case of fund or trust or institution or any university or other educational institution or any hospital or any other medical institution referred to in sub-clause (iv) or sub-clause (v) or sub-clause (vi) or subclause (viia) of section 10(23C) of the Act. Therefore, as per law there was no obligation on the appellant to submit audit report in Form ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t to impart technical education/training and to carry on skill development activities in the state under the Technical Education Department of Government of Uttarakhand. Senior Officers of Uttarakhand Government are on the Board of Governors and are also the members of the society. The grant to the society is sanctioned on the basis of budget proposals and is disbursed by the state government only for specified head of expenses as notified by the government. Unspent amount of grant at the end of the year is either refunded to the state government or carried over for adjustment against the future sanctions. The unspent amount is shown as Current Liability in the Audited Balance Sheet as at the end of each year by the society. Grant received ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... fter deducting the amount of expenditure incurred during the year on imparting training and other expenses to attain the objective of the society, net balance amounting to Rs. 16,27,02,221/- was shown as liability under the head Grant Account in Schedule B of the Balance Sheet. Details are as under: S. No. Particulars Amount (in Rs. ) i. Opening Balance in Grant Account as on 01-04-2018 30,13,85,385.00 ii. Add: Grant Received during the year from Government 1,50,00,000.00 iii. Less: Expenses incurred during the year to attain the objects of the Society 15,36,83,164.00 iv. Closing Balance as on 31-03-2019 in Grant Account (Shown in Schedule B of Balance Sheet) 16,27,02,221.00 9. After going through the entire details, we find that the disall ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
