Shri Rishabh Devji KesarimaljiJain SH MP DT S. Sangh,Ratlam vs. CPC Bengaluru/CIT(A)/Addl. JCIT-(A)-11, Mumbai

Parties Involved

Facts Summary

The assessee is a registered trust formed on 30.04.1979. For the Assessment Year 2019-20, the assessee filed a return under section 139(4) in Form No. ITR-7 declaring a total income of Rs. Nil. The Assessing Officer processed the return under section 143(1) and determined the total income at Rs. 23,51,989/- after making certain additions/disallowances and creating a demand of tax and interest. The assessee filed an appeal to the Commissioner of Income-Tax (Appeals) but did not get any relief. The assessee then filed an appeal to the Income Tax Appellate Tribunal. The assessee submitted that they inadvertently filed the return in Form No. ITR-7 instead of the correct Form No. ITR-5 and included exemption under section 11/12 of the Act, which was not applicable as the trust was not registered under section 12A/12AA.…

Legal Issues

• 1. Whether the assessee is entitled to exemption under section 11/12 of the Income-tax Act, 1961?
• 2. Whether the Assessing Officer was correct in taxing the gross receipts as total income?

Judgment Outcome

Decided in favour of Assessee.

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