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Deputy Commissioner of Income tax (Exemptions) Ahmedabad Versus K Verma Charitable Trust

ITA No.1860/Ahd/2009 - Dated:- 4-9-2009 - SHRI P K BANSAL AND MAHAVIR SINGH. Appellant by :- Shri P M Shukla, Senior DR Respondent by:- Shri Jyotish M Shah ORDER Per P K Bansal (Accountant Member): This appeal has been filed by the Revenue against the order of the CIT(A) dated 16th March, 2009 by taking the following effective grounds of appeal:- 1 The Ld. CIT(A) has erred in law and on facts in holding that the assessee trust is entitled to exemption u/s 11 of the I.T. Act. 2 The Ld. CIT(A) has .....

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377; 1835,003/- and donation for Building Fund - ₹ 2,20,500/- as specific donations being capital receipts. The assessee has claimed an expenditure of ₹ 1,26,483/- being incurred for the object of the Trust. The Assessing Officer on the basis of the original return observed that the assessee has claimed an amount of ₹ 5,09,547/- i.e. 25% of the gross receipts accumulated in terms of section 11(1). Further, a sum of ₹ 5,50,313/- claimed as applied for Earthquake Relief in .....

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ection 11(5). The plea of the assessee that the donations received for Earthquake Relief and Building Fund are to be excluded u/s 11(1)(d), was not considered. The assessee has spent out of the Earthquake Relief donation ₹ 5,50,313/- during the year and the balance donation of ₹ 13,19,509/- were spent in the subsequent year. The amount from Hari Om Fin Stock (P) Ltd. was duly recovered and was given for the purpose of Earthquake Relief. The Assessing Officer ultimately denied the exe .....

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is having valid registration certificate for the year under consideration and deduction claimed by them could not be denied as they have fulfilled the conditions laid under section 80G. These donations are made part of disallowance on the ground that in those cases these donations have not been accepted to be eligible for deduction under section 80G, so the facts discussed in the cases of M/s Hari Om Sarjak, M/s Hari Om Associates and Hari Om Finstock Ltd. will be relevant while deciding the is .....

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-12-2008 denying the exemption to the assessee u/s 11. The assessee went in appeal before the CIT(A). The CIT(A) took the view that the assessee is entitled to exemption u/s 11 and accordingly directed the Assessing Officer to grant the exemption u/s 11, by observing as under:- 7 I have considered the assessment order and the above submissions. I have also perused the order of the ITAT referred to above dated 9-3-2007. It is noticed that the ITAT has in the above referred order accepted the fact .....

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er of the ITAT No.3870/Ahd/2003 dated 9-3-2007 in the case of Hari Om Sarjak, ITA No.3439/Ahd/2004 & ITA No.180/Ahd/2006 in the case of M/s Hari Om Associates, ITA No.2436 & 3440/Ahd/2004 in the case of Hari Om Finstock Ltd. The ITAT has in these cases stated that the fact that the said donors had given donations to the appellant trust which holds a valid certificate as Charitable Trust and is entitled to receive exemption u/s 80G. It was also observed by the Tribunal that they hold rece .....

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was deficit of ₹ 1,26,460/-. The said return is accompanied by Auditors reports duly certified. The Assessing Officer has not given any reason why specific donations are not to be excluded from total income. There is no reason for taking specific donations as part of total income. Assessing Officer has not mentioned regarding Earth quake relief expenditure of ₹ 5,50,313/- duly certified in Auditors report and reasons for not considering them as genuine. It is quite surprising on the .....

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