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TMI Blog2024 (12) TMI 311X X X X Extracts X X X X X X X X Extracts X X X X ..... a sum crores in the assessment order. We are of the considered view that Principal CIT has correctly observed that despite having given/afforded several opportunities of hearing, and despite the assessing officer having taken note of the fact that the assessee had failed to give any material in support of claim of exemption for a sum, since the assessing officer did not make any disallowance with respect to the above claim of exemption in absence of any supporting documents/materials, the assessment order was liable to be set aside as being erroneous and prejudicial to the interests of the Revenue. Appeal of the assessee is dismissed. - Smt. Annapurna Gupta, Accountant Member And Shri Siddhartha Nautiyal, Judicial Member For the Appellant ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d by the learned Assessing Officer cannot be termed as erroneous or prejudicial. (ii) The Learned CIT failed to appreciate that necessary evidences to corroborate the claim of exemption u/s. 10(23C)(iiiab) and 10(23C)(iiiac) were furnished before him in response to his show cause notice, which clearly evidenced that such receipts from the State Government being more than 50% of the total revenue makes the Appellant eligible for exemption u/s. 10(23C) (iiiab) and 10(23C)(iiiac) of the Act. It is submitted that, it be so held now and the order passed by the learned CIT be quashed. 3. The brief facts of the case are that Gujarat Medical Education and Research Society (GMERS), the assessee trust, did not file its return of income for the Assess ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... /supporting documents in support of the aforesaid claim of exemption, the assessing officer still did not make any disallowance with regards to the claim of aforesaid exemption under Section 10(23C)(iiiab) of the Act claimed by the assessee, its return filed in response to notice under section 148 of the Act. Accordingly, Principal CIT held that there was an under-assessment of income amounting to Rs. 718,87,11,813, as this amount had not been included in the total income. The assessment order passed under Section 147 read with Section 144B seemed to be prima facie erroneous and prejudicial to the interests of Revenue under Section 263 of the Income Tax Act. The Principal CIT observed that while the assessee had claimed the exemption of Rs. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ence for educational purposes, which could not be verified in the absence of supporting evidence. In view of these issues, Principal CIT held that the assessment order was both erroneous and prejudicial to the interests of Revenue. As a result, the order was set aside on the issue of examination on whether the exemption under Section 10(23C)(iiiab) was allowable to the assessee. The Assessing Officer was directed to provide an opportunity of hearing to the assessee and to reconsider the exemption claim based on the necessary verification. Any alternative claims made by the assessee were also directed by Principal CIT to be heard and decided on merits. Accordingly, the Assessing Officer was directed to reassess the claim, after verifying the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ITR in response to 148 notice, the explanation/details of the above transactions has not been submitted. If the assessee gives his explanation along with relevant supporting documents with regard to the transactions, then the same can be verified and considered accordingly. How can the exemption be accepted in the absence of any details or evidence? There is no clarity regarding the status of the institution and the grant it receives. Also, as seen from the ITR. the assessee has claimed exemption of Rs. 718,87,11,813 /, the details of which are unexplained. Unless the assessee gives his explanation with relevant necessary documents, the transactions as stated in the above table cannot be verified. Finally, one more opportunity was given to ..... X X X X Extracts X X X X X X X X Extracts X X X X
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