9911796707
TMI Blog2015 (2) TMI 161X X X X Extracts X X X X X X X X Extracts X X X X ..... nt provision of proviso 1st of clause (ii) of sub section 3 of section 143 of the Income Tax Act. The impugned order dated 18.09.2014 and as well as order dated 17.05.2013 passing in pursuance there of deserves to be quashed as void ab initio. 2. Because the learned both authority has erred in facts and in law in computing the Income at higher amount Rs. 15,58,379/- as against the return total Income of Rs. Nil. 3. Because the impugned order has passed by the both lower authority against facts of the case which was submitted by the appellant. 4. BECAUSE the Project Grant Agreement (PGA) dated 30.09.1992 as had been entered into between the President of India and US AID was not an "agreement" simplicitor as has been observed and held by t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rovisions of Law U/S 143(3) of IT Act and Natural Justice. 8. BECAUSE the "Assessing officer" has erred in Law and on facts in (a) Presuming that there was accumulated income of Rs. 15,58,53,973/- at the end of the financial years 2002- 03. (b) Such an accumulated income remained utilized till financial year 2008-09 (relevant to the assessment year 2009-10) (c) Such unutilized accumulated income is chargeable to tax as per section 1 1(3)(C) in the "precious year 2009- 10"and in subjecting the "appellant" to taxation on the said sum in the assessment year 2010-11, the year under appeal, by invoking the provisions of section 11(3)(C). 9. BECAUSE clause (C) of sub section (3) of section 11 merely refers to income remaining unutilized "for ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... inancial year as per Principal of standard accounting remaining grant end of the financial year automatically carry forward to the next Financial year, this relevant point has not consider by the both lower authority at the time of passing impugned orders. 14. BECAUSE wholly without prejudice to the contentions raised vide Ground Nos. 2 to 12 hereinafter, the "appellant" is entitled for exemption under section 10 (23C) (iv) also, as it stood approved there under right up to the assessment year 2011-12 in terms of the consolidation order dated 23rtl1 July, 2008 as passed by the learned Chief Commissioner on income Tax, Lucknow. 15. BECAUSE the order appealed against is contrary to facts, law and principals of natural justice. 16. BECAUSE ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Assessing Officer that the assessee has not furnished the year-wise break-up of accumulated income of Rs. 52,00,45,745/- and therefore, he presumed that the entire accumulation of income is in respect of assessment year 2002-03 which should have been utilized till financial year 2008-09 and because the assessee has not utilized this accumulation, he has made addition of this amount. In Para 9 of the assessment order, it is observed by the Assessing Officer that this addition is open to rectification if the assessee furnishes the year wise break-up of accumulated income of Rs. 52,00,45,745/- along with supporting accounts and other required documents in the rectification application filed by the assessee u/s 154 of the Act. In the proceeding ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... raised by the assessee in the rectification petition u/s 154 that this accumulated income not utilized as per law is taxable or not cannot be decided in the proceedings u/s 154 of the Act. 6. Regarding the argument of Learned A.R. of the assessee that there is no accumulation of income u/s 11 and this entire receipt is as per the agreement with President of India, through Ministry of Finance, New Delhi and therefore, no part of this income can be taxed, we are of the considered opinion that such a contention cannot be examined and decided in the proceedings u/s 154. 7. Regarding this argument of Learned A.R. of the assessee that the Assessing Officer has not made assessment as per the proviso to section 143(3), we are of the considered o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... opinion, if there is any calculation mistake in the relief allowed by the A.O. in his order /s 154, the same can be challenged by the assessee by filing appeal against this order passed by the Assessing Officer u/s 154 of the Act but in the present appeal, the assessee is not raising any issue about the computation of the amounts done by the Assessing Officer in the impugned order. The case of the assessee is that no such addition is called for because there is no accumulation of income by the assessee. In our considered opinion, this issue can be raised in appeal against the assessment order passed by the Assessing Officer u/s 143(3) of the Act dated 30/03/2013 and not in appeal filed by the assessee against the order passed by the Assess ..... X X X X Extracts X X X X X X X X Extracts X X X X
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