J.B. Petit High School for Girls Vs. CIT (Exemptions)
Parties Involved
Facts Summary
The case involves J.B. Petit High School for Girls, which was selected for limited scrutiny by the Assessing Officer for the Assessment Year 2022-23 under Section 143(3) read with Section 144B of the Income Tax Act, 1961. The school claimed to have accumulated Rs. 3 Crores for building renovation and reconstruction, out of which Rs. 1,98,15,080 was utilized, and the remaining Rs. 1,01,84,920 was declared as deemed income. The Principal Commissioner of Income Tax (Exemptions) found the assessment order erroneous and prejudicial to the revenue’s interest, setting it aside for de novo assessment. The school appealed this decision, claiming that all relevant documents and details were provided during the assessment and that the order was unsustainable.…
Decision in favour of
Assessee
Legal Issues
- 1. Whether the assessment order was erroneous and prejudicial to the revenue’s interest for not making necessary enquiries or verifications.
Judgment Outcome
Decided in favour of Assessee.
Precedents Relied Upon
2 precedents cited in this judgement.
Similar Judgements
Hale Realtors Private Limited Vs I.T.O. National E-Assessment Centre
Delhi Bench benchAY 2018-19AllowedStar Paper Mills Limited vs. PCIT-2, Kolkata
DCIT, Central Circle-1, Faridabad, Haryana Vs Empire Realtech Pvt. Ltd.
Delhi Bench ‘B’, New Delhi benchAY 2012-13Partly AllowedM/s Chandra Co-operative Group Housing Society Limited v. Income Tax Officer, Ward 1(3), Gurgaon, Haryana
Delhi Bench ‘G’, New Delhi benchAY 2012-13Partly AllowedHoly Cross Church vs Income Tax Officer Exemption
Mumbai Bench benchAY 2023-24AllowedVijay Raaz Vs. Ward 16(1)(5), Mumbai