ACIT(E) Vs. Shree Surti Modh Vanik Sarvajanik Trust

Parties Involved

Facts Summary

The assessee, Shree Surti Modh Vanik Sarvajanik Trust, is a charitable trust engaged in various charitable activities. The trust was registered with the Charity Commissioner, Surat and under section 12A(a) of the Income-tax Act, 1961. The trust filed its return of income on 30.10.2018 declaring total income of Rs.4,84,580/- after claiming exemption under section 11 of the Act. The Assessing Officer made an addition of Rs.13,69,41,394/- under section 68 of the Act, treating the difference as unexplained income. The assessee carried the matter before the learned CIT(A) who deleted the addition. The Revenue appealed against the order of the CIT(A).…

Legal Issues

• 1. Whether the learned CIT(A) is justified in deleting the addition of Rs. 13,69,41,394/- treated as alleged unexplained income u/s. 68 of the Income Tax Act, 1961.

Judgment Outcome

Decided in favour of Partly Assessee / Partly Revenue.

Precedents Relied Upon

Similar Judgements

• Vanita Samaj vs. Jurisdictional AO Exem

  Mumbai bench

• Radha Devi Charitable Trust vs. Commissioner of Income Tax (Exemption), Delhi

  Delhi Bench 'F', Delhi benchAY 2024-25Allowed

• Trimurti Educational Charitable Trust vs. ITO, Exemption

  Mumbai Bench benchAY 2026-27Allowed

• ITA No.4000/Mum/2025

  Mumbai Bench benchAY 2015-16Dismissed

• Amrut Public Charitable Trust vs. ITO Exemption

  Mumbai Bench benchAY 2026-27Allowed

• Sarvajanik Kelavani Mandal vs. DDIT, CPC, Bengaluru

  Ahmedabad bench