Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2020 (3) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2020 (3) TMI 941 - AT - Income TaxRevision u/s 263 - A.O. failed to take note of the provisions of section 11(2) & 11(3) - A.O. failed to take note of the provisions of section 11(2) & 11(3) and has not carried out the enquiries as per the provisions of section 263 - HELD THAT:- As per the records, it is evident that the show cause notice was issued on 16.3.2018 and the impugned order was passed on 21.3.2018. Therefore, the issue of initiation of the proceedings is concerned, we do not see any infirmity in to the same as the A.O. failed to take note of the provisions of section 11(2) & 11(3) of the Act. The contention of the assessee is that the provisions of section 11(3) sub clause (d) of the Act speaks that “is credited or paid to any trust or institution registered u/s 12AA or to any fund or institution or trust or any university or other educational institution or any hospital or other medical institution referred to in sub clause (4) or sub clause (5) or sub clause (6) or sub clause (6A) of clause (23C) of section 10 In the present case, no such sum was credited or paid to any trust or institution. It is contended that amount was merely set apart but not in fact credited or paid to any trust or institution registered u/s 12AA of the Act. We find merit into this contention of the assessee. Therefore, set aside the impugned order and restore the same to the file of the Ld. CIT to decide it afresh after considering the submissions of the assessee and examining the records - Grounds raised by the assessee are allowed for statistical purposes.
|