9911796707
TMI Blog2024 (12) TMI 1063X X X X Extracts X X X X X X X X Extracts X X X X ..... int Commissioner of Income Tax, Appeal(Addl/JCIT (A)-2, Mumbai) is bad both in the eye of law and on facts. 2. On the facts and circumstances of the case, the learned Addl/JCIT(A) has erred both on facts and in law in confirming the adjustment of Rs. 1,88,11,663/- made by the AO(CPC)in the intimation order passed under section 143(1) of the Act. 3. On the facts and circumstances of the case, the learned Addl/JCIT(A) has erred both on facts and in law in confirming the abovesaid adjustment despite the fact that the same has been made by the AO(CPC) by exercising its powers beyond the scope of section 143(1) of the Income Tax Act and does not fall in any of the subclauses of clause (a) in the Explanation to 143(1) of the Act. 4. (i)On t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cting the contention of the assessee that AO(CPC) has brought gross receipts to tax which is against the basic principles of law where only the real income which is determined after deducting expenses from gross receipts can be brought to tax. 6. That the appellant craves leave to add, amend or alter any of the grounds of appeal." 3. Briefly stated, the facts of the case are that the assessee is a resident Charitable Trust registered u/s 12AA of the Income-tax Act, 1961 [the Act, for short]. The assessee is running a hospital for treating patients with mental diseases and also runs various health care centers. 4. The return of income of the assessee was filed on 31-12-2018 declaring NIL income claiming refund of Rs. 1,53,400/-. Return w ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ndings of the ld. CIT(A) and read the operative part. 10. We have heard the rival submissions and have perused the relevant material on record. The main reason for denying the exemption is that the audit report was not filed alongwith Form No. 10B with the return of income. The undisputed fact is that the audit report alongwith Form 10B was signed prior to filing of return of income. It is true that while denying exemption u/s 11/12 of the Act, no intimation was given to the assessee. 11. As mentioned elsewhere, this issue is squarely covered by the Circular [supra]. However, for the sake of verification, we direct the Assessing Officer to verify the details and decide the issue accordingly after affording reasonable and adequate opportun ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
