St. Thomas High School, Mumbai Vs. ITO- ward-2(3)

Parties Involved

Facts Summary

The assesse is a public trust registered under the Maharashtra Public Trust Act, 1950 and also registered u/sec 12AB of the Income Tax Act. The assessee has filed the return of income for the A.Y 2022-23 on 07.11.2022 disclosing a total income of Rs.2,07,551/- after claiming exemption u/sec 11 of the Act and the return of income was processed u/sec 143(1) of the Act on 08.03.2023 determining the total income of Rs.10,53,37,148/- by disallowing the claim of exemption u/sec 11 & u/sec11(2) of the Act. The assessee has filed an appeal with the CIT(A), whereas the CIT(A) has dismissed the assessee appeal. Aggrieved by the order of the CIT(A), the assessee has filed an appeal before the Hon’ble Tribunal.…

Legal Issues

• 1. Denial of benefits of Section 11 of the Act
• 2. Adjustment made under Section 143(1) of the Act is invalid

Judgment Outcome

Decided in favour of Assessee.

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