9911796707
TMI Blog2025 (3) TMI 303X X X X Extracts X X X X X X X X Extracts X X X X ..... e is a registered trust under Section 12A of the 1.T. Act, 1961 and also under the Public Trust Act. 2. In assessment order, addition is made by denying the exemption u/s 11 of the Act and disallowing the expenses towards the object of the trust. 3. The Hon'ble ITAT, Nagpur Bench, Nagpur, vide their order in ITA NO. 36 to 40, 151-152/Nag/2017 dated 28.06.2022 has quashed the order passed by CIT u/s 263 of the Act wherein the expenses claimed by the appellant towards the object of the trust amounting to Rs. 20,47,792/- was disallowed and resultantly allowed the appeal of the appellant. (141 taxmann.com 100 (Nagpur Trib.)/[2022] 197 ITD 224 (Nagpur Trib.) [28-06-2022]) 4. Copy of order is attached for your reference. 5. On the abo ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Ghonge. During the search, various incrimination documents were found and seized. Assessment in this case was completed under section 143(3) r/w section 153C of the Act on 18/03/2013 on the assessed income at Rs. 3,64,340. The Assessing Officer observed that from the incriminating documents found and information gathered that the trust was formed to get tax benefit on the huge amounts of receipts in the form of donation etc. The trust was not maintaining books of account as no books were found during search operation. The Assessing Officer denied the claim under section 11 of the Act since all the receipts were attributed to Shri Vasantrao Ghonge, and added his income on substantive basis in the hands of individual and on protective basis i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... g Officer imposed penalty of Rs. 5,28,810 under section 271(1)(c) of the Act as the assessee furnished inaccurate particulars of its income. 5. When the matter came up before the learned CIT(A) during the second round of appeal on the issue of penalty levied under section 271(1)(c) of the Act by the Assessing Officer, the learned CIT(A) confirmed the penalty order passed under section 271(1)(c) of the Act levying penalty of Rs. 5,28,810. While dismissing the appeal of the assessee, the learned CIT(A) observed as under:- "5. ............ In ground no.1 & 2, the appellant had stated that the AO was wrong and unjustified in treating the expenditure as claimed by it as concealed income though the same were supported by audited income and e ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d that for the assessment year 2010-11, the learned CIT(A), vide his impugned order dated 14/11/2024, held as under:- "5.2 ............ In this case, the appellant was aggrieved by the decision of the order of the Ld. CIT (Appeal) who upheld the order of the Ld. CIT Central passed u/s 143(3) r.w.s 263 of the Act and therefore, it filed a second appeal before the Hon'ble ITAT, Nagpur Bench, Nagpur. Further, the Hon'ble ITAT, Nagpur Bench, Nagpur, vide their order in ITA NO. 152/Nag/2017 dated 28.06.2022 has quashed the order passed by CIT u/s 263 of the Act wherein the expenses claimed by the appellant towards the object of the trust amounting to Rs. 20,47,792/- was disallowed and resultantly allowed the appeal of the appellant. ..... X X X X Extracts X X X X X X X X Extracts X X X X
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