TMI Blog2023 (5) TMI 633X X X X Extracts X X X X X X X X Extracts X X X X ..... essee against the order of Commissioner of Income Tax (Appeals) [NFAC], Delhi, dated 10.02.2023 for A.Y.2014-15, emanating from the order u/s.154 of the Act dated 30/03/2021 passed by the Income Tax Officer, Exemption, Kolhapur. The assessee has raised the following grounds of appeal: 1. On the facts and circumstances prevailing in the case and as per provisions scheme of the Income-tax Act, 1961 ( The Act ) it be held that rectification order passed by the ld.AO and that upheld by ld. CIT(A) rejecting the Appellants Claim u/s.10 of the Act is incorrect and contrary to the provisions of section 154 of the Act. Accordingly, the appellants rectification application claiming exemption u/s. 10 of the Act be kindly allowed. Appellant be g ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... essee s claim for exemption of Rs.3,35,16,250/-. Aggrieved, the assessee filed rectification application u/s.154 before the ITO, Exemption, Kolhapur, who rejected the assessee s application on the ground that assessee failed to furnish the details of 12AA registration and, therefore, is not eligible for deduction u/s. 11 of the Act. 3. Aggrieved by the order of the ITO, Exemption, assessee filed appeal before the ld.CIT(A), who upheld the order of ITO, Exemption. The ld.CIT(A) gave the reason for rejecting the assessee s appeal that issue involved is outside the ambit of s.154 and there is no mistake apparent from record. Aggrieved by the order of ld.CIT(A), assessee filed the present appeal before this Tribunal. Submissions of ld.A ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sessee claimed exemption u/s. 10(23C)(iiiab) and not u/s. 11 12. 4.2 Ld.DR relied on the order of the ld.CIT(A). Analysis Findings:- 5. We have heard both the parties and perused the record. At page Nos. 22 to 34 of the paper book, the assessee filed copy of return of income for AY 2014-15. On perusal of the return of income, it is observed that assessee had claimed exemption u/s. 10 of Rs.3,31,83,150/-. Ld.AR has brought to our notice that assessee claimed exemption u/s. 10(23C)(iiiab). On perusal of the income and expenditure account, it is observed that total receipts of the assessee are Rs.4,48,00,293/-, out of which government grants are Rs. 3,04,40,401/-. Thus, it is observed that the government grants are around 68% ..... X X X X Extracts X X X X X X X X Extracts X X X X
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