Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2015 (3) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2015 (3) TMI 601 - AT - Income TaxDeduction under section 11 - CIT(A) allowed the claim - assessee-trust runs a school - Held that:- Exemption under section 11 of the Act was disallowed by the Assessing Officer, inter alia, on the ground that the assessee-trust gave contract for constructing the school building to Niche Realty Pvt. Ltd in which one of the trustees was having substantial interest. The learned Commissioner of Income-tax (Appeals) placing reliance on the photocopy of annual report filed with the Registrar of Companies held that Mr. Desai only holding 4 per cent of the equity shares of M/s. Niche Realty Pvt. Ltd and therefore it cannot be said that he was holding a substantial interest in that company. During the appellate proceedings before us neither this document nor any evidence to the effect that this was before the Assessing Officer was found in the paper book of the assessee. Though later on photocopy of annual report with the Registrar of Companies was submitted but no evidence in respect of this document being filed before the Assessing Officer was filed. We further find that in its submission before the Assessing Officer it was claimed by the assessee-trust that Sri Ashish J. Desai was not having substantial interest in M/s. Niche Realty Pvt. Ltd. but even in these submissions of the assessee which have been reproduced by the Assessing Officer in his order there is any mention about the copy of annual report with the Registrar of Companies being filed, though in the submission before the learned Commissioner of Income-tax (Appeals), it was mentioned by the assessee-trust that copy of annual report with Registrar of Companies was being filed. In view of these undisputed facts of this case, we are inclined to agree with the contention of the learned Departmental representative that the learned Commissioner of Income-tax (Appeals) has given relief to the assessee by admitting and relying on the additional evidence which was not before the Assessing Officer, therefore in the interest of natural justice and fair play we are of the considered opinion that matter be restored back to the file of the Assessing Officer for fresh adjudication as per law. - Decided in favour of revenue for statistical purposes. Cancellation of registration of the assessee granted under section 12AA and disallowing exemption in respect of corpus donation - Held that:- Both the denials as based on assessee's non eligibility to exemption under section 11. Since the point of eligibility is remanded back for reconsideration, these matters should also go back to the file of the Director of Income-tax (Exemption) and Joint Director of Income-tax (Exemption) respectively for fresh adjudication after the matter is decided by the Assessing Officer in respect of eligibility to exemption under section 11 - Decided in favour of assessee for staitistical purposes.
|