TMI Blog2019 (8) TMI 456X X X X Extracts X X X X X X X X Extracts X X X X ..... nal noticed that assessee has considered the said voluntary contribution as a loan and had refunded the same to the donors though would not have any relevancy to the facts on hand, since it is held that this is a capital receipt and cannot be regarded as income under Section 2(24)(iia) of the Act and it would be immaterial as to whether same amount was converted by the assessee as loan and refunded to the donors. Tribunal has held, and rightly so, that said amount cannot be subjected to tax on the ground that assessee was not granted registration under Section 12-AA of the Act, inasmuch as, assessee did not claim eligible for exemption under Section 11 of the I.T. Act, but on the other hand, claim of the assessee was to the affect that i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... aritable Trust). Being aggrieved by said addition of net gross receipts, assessee filed an appeal before Commissioner of Income Tax (Appeals) in I.T.A. No.CIT(A)191 / HBL - 2012 13 / AY 2010-11, which came to be allowed on the ground that amount which had been calculated had been returned on different dates namely amount of ₹ 2,52,59,808/-. Thus, relief sought for by assessee came to be granted by the Commissioner of Income Tax (Appeals). Being aggrieved by the same, appeal was preferred by Revenue before the Commissioner of Income Tax Appellate Tribunal (ITAT), which has dismissed the same by relying upon its earlier order passed in I.T.A. No.927/2009, on 23.09.2009 in the case of Basanthi Devi and Shri Chakan Lal Garg Education Tr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... egistration under Section 12-AA of the Act, inasmuch as, assessee did not claim eligible for exemption under Section 11 of the I.T. Act, but on the other hand, claim of the assessee was to the affect that it was a voluntary contribution and not liable to tax and it is not an income. 5. In the light of facts discussed hereinabove and also the fact that issue involved in the present appeal being squarely covered by order dated 14.08.2015 passed by ITAT in ITO vs. Vokkaligara Sangha in I.T.A. Nos.281- 285(B)/2015 and same having not been pursued by the department or in other words, issue involved in said appeal being squarely applicable to the facts on hand and said finding having attained finality, we are of considered view, ther ..... X X X X Extracts X X X X X X X X Extracts X X X X
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