ITA No.390/Coch/2024 :Asst.Year 2013-2014 and ITA No.391/Coch/2024 :Asst.Year 2014-2015

Parties Involved

Facts Summary

The assessee is a temple trust managing the affairs of Akamala Sri Dharmasastha Kshethram, Wadakkancherry. The source of the income by the assessee is the offering of the devotees and interest received from the bank deposits. The offerings by the devotees are mainly in cash and the said cash deposited into the bank account of the assessee. The AO treated the cash deposited in the bank as unexplained money u/s.68A of the Act. As against the said order, the assessee filed an appeal before the ld.CIT(A) and the CIT(A) also dismissed the appeal ex parte without granting an adjournment. The assessee challenged the ex parte order before the Tribunal with the following grounds: 1. The appellate order dated 08.03.2024 for the assessment year 2013-14 against the assessment order passed u/s 144 r w s 144B on 29.03.2022 determining the Total Income at Rs.1,44,03,070/- as against the returned income of Rs. 57,140/- is opposed to law, facts and circumstances of the case. 2. The learned National Faceless Appeal Centre ought to have found that the appellant Trust is purely a public charitable Trust engaged in charitable activities. 3. The learned NFAC has not been able to pin point a single instance where the appellant Trust has spent any amount for any purpose other than charitable ones. 4. Both the learned Assessing Officer as well as the NFAC has failed to appreciate the fact that the fund has been accumulated to construct Building for the use of the devotees. 5. The entire fund has come…

Legal Issues

• 1. The assessee is a temple trust managing the affairs of Akamala Sri Dharmasastha Kshethram, Wadakkancherry. The source of the income by the assessee is the offering of the devotees and interest received from the bank deposits.
• 2. The AO treated the cash deposited in the bank as unexplained money u/s.68A of the Act.

Judgment Outcome

Decided in favour of Assessee.

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