Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2021 (10) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2021 (10) TMI 513 - ITAT DELHIExemption u/s 11 - denial of Exemption u/s 11 for violation of Section 13(1) (C) read with Section 13(3) - HELD THAT:- It is pertinent to note that the CIT(A) has categorically given the finding that for the Assessment Years 2011-12, 2012-13, 2013-14 and 2014-15. The assessee’s application of income of trust outside India was denied and thus Exemption u/s 11 was denied to the assessee on account of violation in terms of Section 11 (1)(c), Exemption under this Section cannot be denied under this Section and only the portion of income to the extent not applied in India will not be eligible for Exemption. The Assessing Officer was directed according by the CIT(A). CIT(A) has held that the Assessing Officer is not justified in deny the benefit of Exemption u/s 11 of the Act and thus deleted the disallowance made in Assessment Year 2014-15 being 15% of salary made u/s 40A(2) (a) and allowed the said ground of the assessee. As related to floating the levy of interest u/s 234B and Section 234D. CIT(A) relied the decision of Anjuman H Glass Ware [2001 (10) TMI 4 - SUPREME COURT], Hindustan Bulb Carriers [2002 (12) TMI 10 - SUPREME COURT] as well as the decision of Kerala Chemicals and Proteins. [2010 (1) TMI 263 - KERALA HIGH COURT] and Infrastructure Finance Company Ltd. [2011 (9) TMI 591 - MADRAS HIGH COURT] for the period after 1/6/2003 irrespective of the Assessment Year involved as it was introduced w.e.f. that date and thus, dismiss the grounds of the assessee. The decision of the CIT(A) on each of the issues were elaborated and the same are as per law. Thus, there is no need to interfere with the findings of the CIT(A) - Decided against assessee.
|