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2022 (11) TMI 627 - HC - Income TaxExemption u/s 11 - application of income - genuineness of the conduct of the charitable activity u/s 2(15) r.w.s 12AA - absence of formal recognition of the school by the competent authority - ITAT allowed the claim of assessee - HELD THAT:- There is no dispute raised in the appeal to the finding of ITAT that the Assessee is in fact running the Rainbow Kids Valley School. Further, the Respondent confirmed on written instructions that no scrutiny assessment was made in the case of the Respondent, Assessee, for Assessment Year (AY) 2017-18 which is relevant for FY 2016-17 when the cash deposits were made in the bank account of the Respondent, Assessee. There is, therefore, no adverse finding of the AO against the Assessee with respect to the said cash deposits. The scope of the application was to examine the genuineness of the objects of the society and to ascertain if the said objects are charitable or not. Learned senior standing counsel for Revenue, has failed to show any infirmity in the findings of the ITAT which hold that the objects of the Assessee are charitable.
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