9911796707
TMI Blog2025 (3) TMI 96X X X X Extracts X X X X X X X X Extracts X X X X ..... Act and the documents annexed therewith, prima facie, shows that there is no income earned by the petitioner but there is excess of expenditure over income for the year under consideration and as such the petitioner was not liable to file the return of income if there is no taxable income or exemption claimed by the petitioner.
Petition succeeds and is accordingly allowed. X X X X Extracts X X X X X X X X Extracts X X X X ..... n total Rs.22,40,000 during the year and it is utilized towards expenses of Ashram Shala. Your Notice is wrong as we have not deposited any cash. Also, the transaction of Rs.22,40,000 is counted five times making total amount of information of Rs.1,12,00,000. So it is wrong reporting by bank. We are attaching herein Audited Profit & Loss A/c. And Balance Sheet for Sant Shri Asharam Shala, Ilol and Mahatma Gobarji Seva Sansthan, Ilol for FY 2018-19 and Passbook of Bank of Baroda. So we request to consider out above answer and drop the further proceedings. As the income of Trust is below the limits, we have not filed Return of Income." 6. The petitioner also annexed with the reply the audit report for the financial year 2018-2019 for the pe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 19-2020. 8. Learned advocate Mr. Rushin Patel relied upon the documents placed on record which were filed along with the reply and demonstrated that there was no excess of income over expenditure but in fact there is an excess of expenditure over income for the year under consideration and the accounts of the petitioner were audited and there is no taxable income of the petitioner so as to file the return of the income for the year under consideration. It was therefore submitted that the respondent-Assessing Officer has passed the impugned order dated 28/03/2023 under Section 148A (d) contrary to the documents available on record and there is no information available with the respondent-Assessing Officer to come to the conclusion that it i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e. 12. It was further submitted that the petitioner trust subsequently filed the Form-10 (B) on 27/04/2023 showing that amount of Rs. 27,08,559/- applied to charitable and religious purpose. It was therefore submitted that the petitioner ought to have filed the return of income and as no return of income is filed, the respondent-Assessing Officer was justified in reopening the assessment so a to enable the petitioner to file the return of income. It was further submitted that as the petitioner did not file the return of income, the explanation tendered by the petitioner that there is no exempt income claimed by the petitioner and the issue that there is excess of expenditure over income for the year under consideration can be raised during ..... X X X X Extracts X X X X X X X X Extracts X X X X
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