Sri Ganapathi Seva Samithi Vs. Income Tax Officer

Parties Involved

Facts Summary

Sri Ganapathi Seva Samithi, a society registered under Andhra Pradesh (Telangana Area) Public Societies Registration Act, 1350F, filed an income return for the assessment year 2016-17 declaring total income of Rs.71,600/-. The Assessing Officer found that the assessee had deposited cash amounting to Rs.43,58,507/- in the bank account. The assessee claimed the income to be in the nature of business income, but the Assessing Officer found no profit motive or commercial activities involved. The Assessing Officer brought the entire amount to tax in the hands of the assessee. The assessee appealed to the Commissioner of Income Tax (Appeals), who upheld the additions made by the Assessing Officer. The assessee then appealed to the Income Tax Appellate Tribunal.…

Legal Issues

• 1. Whether the assessee is entitled to claim the income as business income.
• 2. Whether the assessee is entitled to exemption under section 10(23C)(iv).
• 3. Whether the learned CIT(A) should have granted a personal hearing to the assessee.

Judgment Outcome

Decided in favour of Assessee.

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