ACIT, CIRCLE (EXEMPTION), JODHPUR vs. M/S. VIDYA BHAWAN SOCIETY, UDAIPUR

per cent of the above income was to be allowed as a deduction. [Para 9] In the instant case, there is no dispute that the appellant trust is registered u/s. 12A and eligible for benefit of sec. 11 & 12 and the appellant society is expected to apply 85% of surplus, thus, since when all expenses are charged on the income by applying the commercial principle, therefore, no addition is warranted. Accordingly, it is held that there is no question of making separate disallowance for loss on sale of fixed assets, like-wise prior period expenses which were mostly written-off amount of unrecoverable debit balances (bad-debts), and in fact cannot be characterized as prior period expenses. As regards the provision of gratuity for Rs. 19,33,611/-, the appellant society established that it had not claimed the same as application of funds in its computation. Accordingly, the AO is directed to delete the additions made on these 'accounts. The ground no. 2 raised by the appellant regarding these issues is allowed. 6. The next issue is regarding the AO's action in not allowing the credit of tax already deducted at source. There is no mention/ discussion on the indicated controversy in the assessment order. As per provision of I. T. Act, 1961, every tax payer is to be given credit of the TDS made against him in a particular financial year, as per law. The Assessing Officer is accordingly, directed to allow necessary credit of TDS to the appellant as per law after satisfying himself with the original evidence in support thereof produced before him. The ground of appeal is treated as allowed.”

14. The aforesaid finding on fact has not been rebutted by the Revenue by placing any contrary material on record. Moreover, the Revenue has not brought to our notice any other binding precedent other than what is relied in the impugned order. Therefore, we do not see any infirmity into the order of Ld.CIT(A), the same is hereby affirmed. Ground Nos. 3 to 5 raised by the Revenue are thus, rejected.

15. Ground No.6 raised by the Revenue is general in nature, needs no separate adjudication hence, dismissed.