9911796707
TMI Blog2021 (8) TMI 1357X X X X Extracts X X X X X X X X Extracts X X X X ..... ct) concerning AY 2011-12. 2. The grounds of appeal raised by the assessee read as under: " 1) On the fact sand in the circumstances of the case, Commissioner of Income- tax (Appeals) erred in confirming action of Assessing Officer in treating unutilized amount as on 31.03.2011 of Rs.1,44 ,11,0 03/ - out of grant received from "Essar Limited" at the fag end of the year as income of the society for the year under consideration without considering the fact and circumstances of the case properly and judicially. 2) On the facts and in the circumstances of the case, Commissioner of Income- tax (Appeals) erred in confirming action of Assessing Officer in not allowing exemption u/ s 1 1 merely for procedural default , if any, without conside ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... troverted the aforesaid amount treated by the assessee as accumulated or set apart for specified purpose and claimed under s.11(1) of the Act. 3.2 To support its claim of entitlement of deduction under s.11(1) of the Act, it is the case of the assessee that in terms of Explanation 1 to Section 11(1) of the Act, the assessee is entitled in law to extend the period of application of income for specified purposes in the immediately next financial year also. Such application will be deemed as adequate compliance of set apart/application of donation accumulated for specified purposes. It is reiterated on behalf of the assessee that money has been actually utilized in the immediate next year and therefore substantial compliance of the law has be ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Section 11(1) or Section 11(2) of the Act, in our view, is not fatal for the purposes of granting tax relief to a charitable trust engaged in benefit of public at large. The substantial compliance of the conditions laid down in the respective provision is of overriding importance. The assessee, in the instant case, claimed that, on facts, it has complied with the provisions of Section 11(1) of the Act read with Explanation (1)(1)(b) thereto towards utilization of CSR money received and thus entitled to tax benefits available to the charitable trust. 6. In this backdrop, we observe that the claim towards actual application of income in the immediately next financial year is a question of fact. The aforesaid fact thus requires suitable exam ..... X X X X Extracts X X X X X X X X Extracts X X X X
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