Anjuman-E-Shiateali vs. CIT(Exemption), Mumbai

Parties Involved

Facts Summary

The assessee, a charitable trust, filed an appeal against the appellate order passed by the Commissioner of Income Tax (Exemptions), Mumbai for Assessment Year (A.Y.) 2018-19. The order was passed under Section 263 of the Income Tax Act, 1961, which set aside the assessment order passed by the National Faceless Appeal Centre (NFAC), Delhi. The assessee argued that the assessment order was erroneous and prejudicial to the interest of the Revenue. The assessee claimed that the provisions of Section 50C of the Act do not apply to charitable trusts and that the capital gain from the sale of property was already assessed in the previous year. The assessee also argued that the stamp duty value of the property should not be considered in the current assessment year as it was already assessed in the previous year.…

Legal Issues

• 1. Whether the provisions of Section 50C of the Act apply to charitable trusts?
• 2. Whether the stamp duty value of the property should be considered in the current assessment year?

Judgment Outcome

Decided in favour of Partly Assessee / Partly Revenue.

Precedents Relied Upon

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