Suresh Shroff Memorial Trust vs ITO Exem. Ward2(3), Mumbai

Parties Involved

Facts Summary

The assessee, Suresh Shroff Memorial Trust, filed an appeal against the order of the Additional Commissioner of Income Tax (Appeals) dated 23.01.2024 pertaining to the Assessment Year 2017-18. The grievance of the assessee was that the Commissioner of Income Tax (Appeals) erred on facts and in law by confirming the action of the Central Processing Centre (CPC) in passing the intimation dated 26.03.2019 under Section 143(1) of the Income Tax Act, 1961, whereby income of the appellant was computed at Rs. 98,45,058/- as against NIL income returned by the appellant. The assessee also claimed that the CPC erred in denying complete exemption of Rs 98,45,058/- claimed under Section 11 of the Act due to the non-filing of Form No. 10 before the due date. The assessee filed a condonation application for the delay in filing Form 10, which was later condoned by the Commissioner of Income Tax (Exemption).…

Legal Issues

• 1. Whether the CIT(Appeals) erred on facts and in law in confirming the CPC's action in passing the intimation under Section 143(1) of the Act.
• 2. Whether the CIT(Appeals) erred on facts and in law in denying the complete exemption claimed by the appellant under Section 11 of the Act.

Judgment Outcome

Decided in favour of Assessee.

Similar Judgements

• Gujarat Technological University vs. DCIT

  Ahmedabad bench

• The Deputy Commissioner of Income Tax (Exemptions), Circle – 1, Bengaluru. Vs. M/s. Infosys Employee Benefits Trust

  'A' Bench : Bangalore benchAY 2021-22Dismissed

• Akshat Education and Charitable Trust Vs. CIT(E)

  Ahmedabad bench

• Ircon Davanagere Haveri Highway Limited Vs. DCIT

  Delhi Bench benchAY 2022-23Dismissed

• Gujarat Industrial Investment Corporation Ltd. Employees Provident Fund vs. Income Tax Officer

  Ahmedabad bench

• S.D. Education Society vs. ACIT

  Delhi Bench benchAY 2010-11 & 2011-12Allowed