TMI Blog2022 (12) TMI 867X X X X Extracts X X X X X X X X Extracts X X X X ..... t fit and appropriate to remand this entire appeal to the file of the ld.AO for denovo adjudication in accordance with law. All the arguments of the assessee could be made before ld.AO in the set aside proceedings. The assessee is at liberty to furnish fresh evidences, if any, in support of all its exempts. Needless to mention that the assessee be given reasonable opportunity of being heard. AO is hereby directed to frame fresh assessment for the year under consideration in accordance with law by considering the aforesaid observations and the evidences filed by the assessee on record. Accordingly, the grounds raised by the assessee are allowed for statistical purposes. - ITA No.4975/Mum/2019 - - - Dated:- 30-9-2022 - SHRI M.BALAGANESH, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... #39;s University has three campuses i.e. Churchgate, Juhu and Pune and various affiliated colleges. c) The Appellant had made a genuine error of obtaining separate PAN and filing its Return of Income on the separate PAN inadvertently. The filing of Return of Income under separate PAN does not change the color of Income or transaction and thereby deny the claim of Exemption u/s.10(23c) (iiiad) of Income Tax Act,1961 which is otherwise available and claimed by SNDT Women's University. 2) The learned CIT (A) erred in confirming Assessing Officer stand of treating Appellant institution as Body of Individuals (BOI) for erroneously obtaining PAN as BOI and filing of returns. 3) The learned CIT(A) erred in upholding the asses ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... onstituent of SNDT Women s University. The assessee in its independent status however, obtained PAN and filed return of income in respect of surplus earned by it and paid taxes thereon. Before the ld.AO, the assessee submitted that it has no independent existence for the purpose of income tax as it is only a constituent of SNDT Women s University. The autonomy enjoyed by it is only academic and cannot be construed as a legal entity having independent existence on its own. The assessee also made a request before the ld.AO that either way, its income exempt u/s 10(23C)(iiiad) of the Act. This plea was rejected by the ld.AO that the said exemption was not claimed by the assessee in the return of income; that the said exemption could not be gra ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... college has been conferred autonomous status and the said letter is addressed to the Registrar of SNDT Women s University. This categorically goes to prove that assessee college is only the constituent of SNDT Women s University and does not have any independent status as such. Hence, we hold that assessee college obtaining PAN in its independent status and filing income tax returns is erroneous in the eyes of law. Though this has been rectified by the assessee from A.Y. 2015-16 onwards by merging financial affairs of the college with the financials of SNDT Women s University as is evident from the affidavits filed by the Principal and Registrar as stated supra, the income offered by the assessee per se does not deserve to be taxed at all ..... X X X X Extracts X X X X X X X X Extracts X X X X
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