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2024 (1) TMI 478 - ITAT DELHIExemption u/s 11 - genuineness of the activities of Society - CIT(Exemptions) had rejected the claim of assessee u/s 80G(5)(vi) of the Act on the ground, inter alia, that gross receipts in all the five years are far in excess of Rs. One crore and the assessee Society has wrongly claimed exemption u/s 10(23C)(iiiad) - HELD THAT:- As decided in SHIV PUBLIC SCHOOL MANAGING COMMITTEE [2018 (2) TMI 2109 - ITAT DELHI] society as indulging predominantly in activities on cash basis and has kept substantial amounts of its so-called receipts out of the regulated banking channels. Society’s indulgence in cash transactions makes the activities not amenable to proper verifications. It doesn’t make the functioning of the entity, based on public funding and sitting over public money, transparent and amenable to scrutiny by the beneficiaries from amongst the general public as also the regulating agencies.” In the light of aforesaid discussion the issue is restored to the file of Learned CIT(Exemptions) to examine the amended and active Memorandum of Association and bye-laws of the Society for the purpose of satisfaction about the genuineness of the activities of Society and pass order afresh in the light of aforesaid observations. Appeals are allowed for statistical purposes.
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