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Dy. Director of Income Tax (E) , Trust Circle-IV, New Delhi Versus Sports Authority of India

2016 (1) TMI 33 - ITAT DELHI

Addition on account of rental income - CIT(A) deleted the addition - Held that:- In the instant case, it is noticed that the assessee disclosed the income which was on account of rent receivable and the rent received during the year. Therefore, the AO was not justified in making the impugned addition and the ld. CIT(A) rightly deleted the same. We, do not see any valid ground to interfere with the findings given by the ld. CIT(A). - Decided against revenue.

Addition on account of gran .....

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- ITA No. 2566/Del/2013, ITA No. 2870/Del/2013 - Dated:- 30-9-2015 - Sh. N. K. Saini, AM And Sh. A. T. Varkey, JM For The Assessee : Sh. M. P. Rastogi, Adv. For The Revenue : Smt. Sunita Kejriwal, CIT DR ORDER Per N. K. Saini, AM: These cross appeals by the department and the assessee are directed against the order dated 01.02.2013 of ld. CIT(A)- XXI, New Delhi. 2. First we will deal with the appeal of the department in ITA No. 2566/Del/2013. The only grievance of the department in this appeal .....

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d the relief to the assessee vide order dated 14.01.2005. Against the said order the assessee preferred an appeal to the ITAT wherein vide order dated 15.04.2010 in ITA Nos. 263 & 1587/Del/2008, the matter was set aside to the file of the AO. On the direction of the ITAT, the AO proceeded to frame the assessment and asked the assessee to explain the rental income of ₹ 6,72,30,555/-. In response the assessee submitted as under: Kind attention of your honour is drawn to para (d) on page .....

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observing that the computation of income filed during the course of assessment proceedings did not include this income. 5. Being aggrieved the assessee carried the matter to the ld. CIT(A) and submitted as under: Addition of ₹ 6,72,30,555/- was bad in law and on facts of the case of the appellant-society- Ld. AO, while computing income of the assessee-society added a sum of ₹ 6,72,30,555/- on account of rent. Above amount of ₹ 6,72,30,555/- comprises of ₹ 6,26,06,411/- + .....

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v) In the computation of income of FY 1999-2000 (AY 2000- 01), amount of ₹ 46,24,144/- has been shown as income on account of rent received for previous years not accounted for . Above rental incomes have already been disclosed in the computation of income filed with ITD (copy enclosed as annexure 1). Return of income filed with the ITD in form 3A vide acknowledgement receipt dated 28.03.2002 declaring income deductible u/s 11 ₹ 103,46, 89,830/- includes above rental income (copy enc .....

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ssee furnished the copy of Income Tax Return showing rental income which has already been disclosed in the computation of income and those details were available at Annexure-I & II of the submission. The ld. CIT(A) deleted the addition by observing that the rental income had already been included in the income shown which had been offered and forming part of rental income, therefore, findings of the AO were totally misconceived. 7. Now the department is in appeal. The ld. CIT DR submitted th .....

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the assessee had shown the income from other sources and added the following amounts in the said income: Income from Other Sources Rupees Voluntary Contributions received during the year 66,34,45,918.00 Other Sources 30,40,13,357.51 Add: 1. Amount receivable on account of rent not accounted for 6,26,06,411.00 2. Amount of rent received for previous years not accounted for 46,24,144.00 37,12,43,912.51 Gross Total Income 1,03,46,89,830.51 Less: Income Exempt u/s 11 as per Audit Report in Form 10B .....

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in making the impugned addition and the ld. CIT(A) rightly deleted the same. We, do not see any valid ground to interfere with the findings given by the ld. CIT(A). Accordingly, we do not see any merit in this appeal of the department. 10. Now we will deal with the appeal of the assessee in ITA No. 2870/Del/2013. The only grievance of the assessee in this appeal relates to the sustenance of addition of ₹ 2,22,88,491/- made by the AO on account of grant remaining unspent. 11. Facts of the .....

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tention of your honour is invited to the remarks made by AO in original assessment (refer paper book page 70) passed u/s 143(3) of the Income Tax Act, 1961 vide order dated 11.11.2003. 10. From the income side of the Income & Expenditure Account of the assessee, it is found that out of the grant received from Government of India, sum of ₹ 58,85,314/- and ₹ 1,64,03,177/- have been reduced on account of being shown as fixed assets created. Since assessee is not registered u/s 12A o .....

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ssessee is unable to produce the copy of the registration . He further cited various Court decisions in his favour but the facts of these are different from the facts of the assessee s case. 10.2 The assessee s claim is not acceptable because he is not eligible for exemption u/s 11 of the Income Tax Act as discussed in paras 5 to 5.3 above and thus the amount of ₹ 58,85,314/- and ₹ 1,64,03,177/- taken directly to the corpus by the assessee is treated as his income and added to his in .....

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nour is prayed to grant deduction of ₹ 2,22,88,491/-. Assessee received grants both plan & non-plan from MYAS which are duly recorded in the books of accounts. Out of these grants-non-plan Grants an amount of ₹ 58,85,314/- (refer paper book page 18) was deducted and from Plan Grants an amount of ₹ 1,64,03,177/- (refer paper book page 21) was deducted and transferred to Corpus as Fixed assets were created during the year which can be verified from audited annual accounts of .....

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