The Word Vs. Assistant Commissioner of Income Tax

Parties Involved

Facts Summary

The assessee/appellant filed an appeal against the order of intimation u/s 143(1) dated 30.11.2021 passed by CPC, Bangalore for the A.Y. 2020-21, which was dismissed as barred by limitation. Dissatisfied with the order, the assessee/appellant filed the instant appeal. The assessee is a public trust running a primary level school, registered u/s 12A / 12AA and u/s 80G of the Act. The return was processed u/s 143(1) on gross income without deducting expenses/utilization and accumulated amounts, which the assessee claims should have been deducted. The Ld. CIT(A) dismissed the appeal on the ground that the assessee failed to file the audit report in Form 10B within the extended due date.…

Legal Issues

• 1. Whether the Ld. AO and Ld. JCIT (Appeal) erred in not deducting Rs. 89,74,953.00 from the income being the amount applied for Charitable Purpose.
• 2. Whether the Ld. AO and Ld. JCIT (Appeal) erred in not allowing deduction of Rs. 7,19,413.00 towards amount accumulated and set apart u/s 11(1)(a).
• 3. Whether the Ld. JCIT (Appeal) erred in denying deduction for utilization of expenses due to belated filing of Audit Report in Form 10B.

Judgment Outcome

Decided in favour of Assessee.

Precedents Relied Upon

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