SANTHINIKETAN MINORITY EDUCATIONAL SOCIETY,GUNTUR vs. THE ASSISTANT COMMISSIONER OF INCOME TAC (EXAMPTION), VIJAYAWADA

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ITA 601/VIZ/2019Status: DisposedITAT Visakhapatnam16 April 2021AY 2015-20165 pages
AI SummaryRemanded

What did the Tribunal hold?

The Tribunal found the CIT(A)'s order to be cryptic and lacking detailed discussion. Both parties agreed to remit the issue back to the CIT(A) for a fresh decision on merits, considering additional evidence.

What were the facts?

The assessee society claimed exemption under Section 12A. The Assessing Officer denied this exemption and made an addition of Rs. 3,34,90,000/- for allegedly violating Section 13(1)(c) by advancing funds to a company where the society's president had substantial interest. The CIT(A) dismissed the assessee's appeal.

What were the issues?

Whether the exemption under Section 11/12A was wrongly denied due to alleged violation of Section 13(1)(c) and whether additional evidence should be admitted.

Which sections of the Income-tax Act were involved?

Section 12A,Section 13(1)(c),Section 11

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, VISAKHAPATNAM BENCH, VISAKHAPATNAM

Before: SHRI N.K.CHOUDHRY, HON’BLE & SHRI D.S. SUNDER SINGH, HON’BLE

For Appellant: Shri C.Subrahmanyam, AR
Hearing: 07.04.2021

आदेश की प्रतितिति अग्रेतषि/Copy of the order forwarded to:- 1. तिर्धाररिी/ The Assessee – M/s Santhinikethan Minority Educational Society, 592-43, 2nd Lane, Devapuram, Guntur 2. रधजस्व/The Revenue – Asst.Commissioner of Income Tax (Exemptions) Vijayawada 3. The Commissioner of Income Tax (Exemptions), Hyderabad 4. The Commissioner of Income Tax (Appeals)-2, Guntur 5. तवभधगीय प्रतितितर्, आयकर अिीिीय अतर्करण, तवशधखधिटणम/DR, ITAT, Visakhapatnam 6.गधर्ाफ़धईि / Guard file

आदेशधिुसधर / BY ORDER // True Copy //

Sr. Private Secretary ITAT, Visakhapatnam

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