TMI Blog2022 (8) TMI 1034X X X X Extracts X X X X X X X X Extracts X X X X ..... he CIT(A) that the assessee is not registered under any Law either as a Society or as a Trust is not factually correct - AR has produced a copy of the Registration Certificate duly registering the assessee-society under the Societies Registration Act vide Registration No.464 of 1995 - contributions received for a specific purpose cannot be treated as income u/s. 2(24)(iia) of the Act. Accordingly, we set-aside the order of the Ld. CIT(A) on Grounds no.3 and 4 raised by the assessee and these grounds raised by the assessee are allowed. Depreciation and bank charges on the basis that the assessee is not entitled to the benefit of section 32 - We find that since the asset has not been claimed as a deduction or exemption in the same year o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e summary assessment, the assessee filed an appeal before the Ld. CIT(A), NFAC, Delhi. The Ld.CIT(A) dismissed the appeal in limine upholding the intimation u/s. 143(1). Aggrieved by the order of the Ld.CIT(A), the assessee is in appeal before us. 3. The assessee has raised the following grounds of appeal: 1. The order of the Ld. CIT(A) is contrary to the facts and also the law applicable to the facts of the case. 2. The Ld. CIT(A) ought to have held that the adjustments made by CPC while processing the return of income were beyond the scope of intimation u/s. 143(1) of the Act. Without prejudice to the above 3. The Ld.CIT(A) is not justified in sustaining the adjustment of Rs. 47,20,000/- made towards disallowance of exem ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... heard both the sides and perused the material available on record and also the orders of the Ld. Revenue Authorities. The admitted facts are that the assessee has received voluntary contribution towards corpus for the construction of building for Rs. 47,20,000/- and for plantation expenses Rs. 5,50,000/-. Disclosure was also rightly made while filing the return of income for the AY 2019-20. However, while processing the return summarily, due to non-availability of Registration u/s. 12A of the Act, these contributions were treated as income of the assessee. Reliance placed by the Ld. AR on the jurisdictional coordinate Bench in ITA No. 101/Viz/2015 (supra) wherein vide para 6.2 of the order the Tribunal has held as follows: 6.2. In the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... w either as a Society or as a Trust is not factually correct. The Ld. AR has produced a copy of the Registration Certificate duly registering the assessee-society under the Societies Registration Act vide Registration No.464 of 1995. Respectfully following the decision of the jurisdictional Coordinate Bench of the Tribunal, we hold that contributions received for a specific purpose cannot be treated as income u/s. 2(24)(iia) of the Act. Accordingly, we set-aside the order of the Ld. CIT(A) on Grounds no.3 and 4 raised by the assessee and these grounds raised by the assessee are allowed. 7. With respect to Ground No.5, the Ld. CIT(A) has disallowed the depreciation and bank charges aggregating to Rs. 3,82,340/- on the basis that the asses ..... X X X X Extracts X X X X X X X X Extracts X X X X
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