TMI Blog2022 (2) TMI 317X X X X Extracts X X X X X X X X Extracts X X X X ..... S. 10(23)(iiiac) of the Act and therefore decide as per law. In our considered opinion, learned PCIT has exceeded has power wherein ITAT has categorically given instruction to the AO. In such circumstances, the order under S.263 of the Act cannot be sustained. Thus, appeal of the assessee is allowed. - I.T.A. Nos. 200 to 204/Ind/2020 - - - Dated:- 20-12-2021 - Shri Mahavir Prasad, Judicial Memebr And Shri Manish Borad, Accountant Member For the Appellant : Shri Ashish Goyal And Shri N. D. Patwa, Advs. For the Respondent : Shri S. S. Mantri, CIT. D.R. ORDER PER MAHAVIR PRASAD, JM: These five appeals have been filed by the assessee against the order of learned Pr. Commissioner of Income Tax-1, Bhopal ( CIT(A) i ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he provisions of MP Societies Registration Act, 1872 and as per the bylaws the society have object to impart education, medical education, ayurvedic college etc. for the benefit of public at large. On perusal of the assessment order and case record, it is noticed that the assessee has not filed regular return of income u/s 139(4A) of the Act and had not claimed exemption of ₹ 4,65,000/- u/s 10(23C)(iiiac) in the return of income filed u/s 153C of the Act. Therefore, the assessee's claim of exemption u/s 10(23C)(iiiac) was required to be disallowed and added back to the assessee's total income. In view of the above facts, the assessment order was found to be erroneous and prejudicial to the interest of the society by the learne ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... l. Therefore, based on the above decision of the Hon ble Supreme Court, AO does not have any power to entertain additional claim such. Such a claim made in revised return filed within the due date of revised return of income. In these facts and circumstances, assessee filed the return of income when notice under s.153C of the Act was served upon the assessee. Since no enquiry/verification has been conducted by the AO about the status of the return and claim of exemption by the assessee under S. 10(23)(iiiac) of the Act, the assessment proceedings and the order passed by the AO is prejudicial to the interest of Revenue. The learned PCIT held that it is settled law that if the AO fails to make proper verification, the assessment order passed ..... X X X X Extracts X X X X X X X X Extracts X X X X
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