TMI Blog2001 (3) TMI 62X X X X Extracts X X X X X X X X Extracts X X X X ..... in Income-tax Appeal No. 574 of 2000: In this appeal we are concerned with the assessment years 1991-92 and 1992-93, The respondent is a trust. The respondent is an educational institution. It is running a school. The assessee was required to file its return of income on October 31, 1991. It was filed only on March 11, 1995. There fore, penalty proceedings under section 272A were initiated. There was a default in filing the return of 495days. Therefore, the Assessing Officer imposed penalty. Being aggrieved, the assessee carried the matter in appeal to the first appellate authority, who came to the conclusion that the assessee was a charitable trust, which was required to file a return of income only if its income, without giving effect t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... such income of the previous year in the prescribed form and verified in the prescribed manner and setting forth such other particulars as may be prescribed and all the provisions of this Act shall, so far as may be, apply as if it were a return required to be furnished under sub-section (1)." In the present matter, it is not in dispute that the income of the assessee is exempt under section 10(22) of the Act. Further, the present matter is in respect of the assessment years 1991-92 and 1992-93. Under section 139(4A), every person in receipt of income derived from property held under trust or held under some legal obligation for charitable or religious purposes is required to furnish a return of income if its total income, ignoring exempti ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... or exemption could be decided by the Department only after the relevant material is placed before the Department by the filing of the assessee's return. Therefore, if an assessee who claims exemption under section 11 and section 12 is required to file the return, as stated above, then we do not see any reason as to why an assessee who claims exemption of income under section 10(22) should not file the return because, ultimately, the assessee's claim for exemption has to be decided by the Department only after the relevant material is placed before it by filing the returns. In the case of Aditanar Educational Institution v. Addl. CIT [1997] 224 ITR 310 (SC), it has been held that availability of exemption under section 10(22) of the Act shou ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
