9911796707
TMI Blog2024 (10) TMI 424X X X X Extracts X X X X X X X X Extracts X X X X ..... ax authorities below and also in the present proceeding claimed that it was entitled to accept SBN being a Government College. The said claim is not only baseless but untrue in the evince of category of registration granted by AICTE. The material placed on records does in no way suggest that the appellant is a Central or State Govt. College engaged in running educational institution, rather it a private unaided college as per the details laid in letter of approval extension issued by AICTE. Thus the very foundation of being a Government College is failed on record, in consequence explanation that it accepted the fees from the student also failed like house of cards. Further there is hardly any cogent deprecative material placed by the appel ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ct by the Income Tax Officer, Exemption Ward-Nanded [ Ld. AO hereinafter] for assessment year 2017-18 [ AY hereinafter]; 1. Pithily stated facts of the cases are that; the assessee is a Trust which failed to file its return of income for the year under consideration, resultantly it was identified as non-filer . Upon the receipt of information through Annual Information Return [ AIR hereinafter] that the assessee during the period of demonetisation deposited huge special bank notes [ SBN hereinafter] amounting ₹26,69,500/- into its bank account No. 62206087647 maintained with State Bank of Hyderabad, Dhamangaon, Phulambri, Dist. Aurangabad [ SBH hereinafter], by notice dt. 12/12/2017 issued 142(1) of the Act the assessee was called upo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... o the Central Govt. Gazette amended notification dt 24/11/2016 published by Ministry of finance, department of economic affair [ the Gazette hereinafter], Ld. AR contended the assessee is a aided trust running government college affiliated to Dr Babasaheb Ambedkar Marathwada University, Aurangabad [ DBAMU hereinafter]. The difference of opening cash / SBN balance held as on 09/11/2016 by the assessee and the amount of SBN actually deposited by it solitarily represents the exam fees collected from its students during the subsistence of demonetisation which then remitted to the Registrar of the DBAMU. 4. It was also submitted that in the course of hearing that, the assessee being/running a government college therefore in view of clause (t) in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ificate to demonstrate its claim of being Govt College. The representation/contention is after thought therefore misplaced for the purpose of any relief. The appeal of the assessee thus deserves to be dismissed and impugned addition needs to be upheld. 6. We have heard rival submission and subject to rule 18 of ITAT-Rules, 1963 perused the material placed on record and considered the facts in the light of settled position of law which are also forewarned to the parties present. As agreed by the rival parties, the sole substantive issue to be adjudicate in the present appeal leads us to vouch merits of the addition sustained. 7. We accordingly proceeded and noted that, the appellant assessee is a trust running college in the name style of Sa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... m is not only baseless but untrue in the evince of category of registration granted by AICTE. The material placed on records does in no way suggest that the appellant is a Central or State Govt. College engaged in running educational institution, rather it a private unaided college as per the details laid in letter of approval extension issued by AICTE. Thus the very foundation of being a Government College is failed on record, in consequence explanation that it accepted the fees from the student also failed like house of cards. Further there is hardly any cogent deprecative material placed by the appellant to dismantle the Revenue s findings beyond an iota of doubt that the difference of SBN deposits assessed as income and brought to tax u ..... X X X X Extracts X X X X X X X X Extracts X X X X
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