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2017 (6) TMI 830 - ITAT PUNE

2017 (6) TMI 830 - ITAT PUNE - TMI - Accrual of income - receipt of grant - assessee trust received funds from the Government of India as per sanction of the President of India under the scheme of Support to Training and Employment Programme for women “STEP” - Held that:- Where the assessee was constituted by the Government of India for specific purpose of carrying the activities for the empowerment of women and the grants & advances disbursed by the Government to the assessee cannot be held to .....

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r which the same was granted. Accordingly, we direct the Assessing Officer to delete the addition - Decided in favour of assessee. - ITA Nos. 505 & 506/PUN/2014 - Dated:- 7-6-2017 - Ms. Sushma Chowla, JM And Shri Anil Chaturvedi, AM Appellant by : Shri M.K Kulkarni Revenue by : Shri A.N Honawar ORDER Per Sushma Chowla, JM Both the appeals filed by the assessee are against consolidated order of CIT(A)-IT/TP, Pune dated 03.02.2014 relating to assessment years 2007-08 & 2008-09 against the resp .....

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he order of the A.O who in turn has brought into the purview of taxation the surplus of ₹ 10,26,680/- which surplus was on account of corpus donation received from Govt. of India for specific purpose. The tagged donations and surplus arising out of it which the Trust is entitled to carry forward to subsequent years for its application towards the object of the Trust. It is not an income of the Trust taxable under the Act irrespective of the fact whether the Trust is registered or not u/s 1 .....

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dition confirmed by Ld. CIT(A) be quashed. 3) On the facts and circumstances of the case and in law the levy of interest u/s 234A, 234B and 234C is not justified. The levy of interest be quashed. 4) The appellant craves/leave to add, amend or alter any of the above grounds of appeal. 4. The learned Authorized Representative for the assessee pointed out that the assessee had received grant-in-aid from the Government of India for specific purpose and the surplus, if any, on account of corpus donat .....

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ds of assessee. In this regard, reliance was placed on the orders of Assessing Officer and CIT(A). 6. We have heard the rival contentions and perused the record. Briefly, in the facts of the case, the assessee trust was engaged in the activities relating to upliftment of women through education, financial support and other projects for the benefit of poor. The assessee received funds from the Government Grant. The registration under section 12AA of the Act was granted w.e.f. 01.04.2009 by the Co .....

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assessment year 2008-09 at ₹ 1,72,242/-. 7. The CIT(A) upheld the order of Assessing Officer holding that the grant was made towards corpus of the trust. 8. The assessee is in appeal against the order of CIT(A). 9. We have heard the rival contentions and perused the record. In the facts of the present case, the assessee trust received funds from the Government of India as per sanction of the President of India under the scheme of Support to Training and Employment Programme for women STEP .....

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STEP . The assessee in the respective years had received the grant and after debiting expenditure incurred on the specified projects had surplus at the end of the year. The assessee had claimed the said surplus to be not its income as the same belonged to the Government of India. The plea of assessee vis-à-vis grant-in-aid was that the said grant did not belong to the assessee and they do not form its corpus. Further, surplus if any, is not to be taxed in the hands of assessee. The case .....

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