The Income Tax Appellate Tribunal, Ahmedabad ordered the reconsideration of the exemption claim.
Facts
The assessee is a charitable trust engaged in the activity of running a school for children of poor and needy class of the society in Ahmedabad. In the return of income filed by the assessee, the assessee claimed its entire income exempt from tax in terms of section 11 of the Act which was denied in the intimation made by CPC u/s 143(1) of the Act.
Submissions
Counsel for the assessee submitted that its income from charitable activities was inadvertently reflected in the return filed on-line, as income from other sources, amounting to Rs.51,59,168/-.
DR stated that in view of the fact that, the assessee has also sought alternative remedy by filing rectification application before the AO, the appeal be also restored back to the AO to be considered along with rectification application.
Decision
The division bench of Annapurna Gupta, Accountant Member and Madhumita Roy, Judicial Member, Judicial Member considered it fit to restore the issue back to the file of the AO to consider the claim of the assessee to exempt its entire income earned from the charitable activities under section 11 of the Act after taking note of all the evidences filed by the assessee. The issue is to be considered along with 154-applications filed by the assessee, since both relate to the same aspect.
Case title: Shree Vasan Sheri Kelavani Samiti Trust v/s ITO
Citation: ITA No.437/Ahd/2022
