Shree Swaminarayan Charitable Trust vs ITO, Ward-2

Parties Involved

Facts Summary

The assessee, Shree Swaminarayan Charitable Trust, filed an appeal against the order of the Commissioner of Income Tax (Appeal), National Faceless Appeal Centre (NFAC), Delhi dated 26.05.2024 for the Asst.Year 2016-17. The assessee raised grounds that the order passed by lower authorities was bad in law and required to be quashed. The assessee argued that the NFAC erred in law and on facts in deciding the appeal, rejecting the benefit under section 11 of the Act of Rs 824380/- and alternate claim under section 10(23C)(iiiad) of the Act. The assessee also argued that the charging of interest under sections 234A, 234B, 234C was unjustified.…

Legal Issues

• 1. Whether the order passed by lower authorities is bad in law and required to be quashed?
• 2. Whether the NFAC erred in law and on facts in deciding the appeal?
• 3. Whether the NFAC ought to have granted benefit u/s 11 of the Act?
• 4. Whether the NFAC ought to have given direction to compute income on commercial principle and real income theory?

Judgment Outcome

Decided in favour of Partly Assessee / Partly Revenue.

Precedents Relied Upon

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