INTERNATIONAL BUDDHIST CONFEDERATION,NEW DELHI vs. ITO, WARD EXEMPTION 1(2), DELH, NEW DELHI

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ITA 2881/DEL/2025Status: DisposedITAT Delhi22 July 2025AY 2017-18Bench: SHRI SATBEER SINGH GODARA (Judicial Member)4 pages

In favour of the Revenue: the assessee's appeal was dismissed. From the AI summary of this appeal.

AI SummaryDismissed

What did the Tribunal hold?

The Tribunal held that since the assessee itself declared the income from other sources, it cannot later claim it as an application of income for Section 11 exemption. The findings of the lower authorities were upheld.

What were the facts?

The assessee declared interest income of Rs. 13,80,000/- from FDRs as income from other sources due to a technical glitch. The assessee sought to treat this as an application of income for claiming exemption under Section 11.

What were the issues?

Whether interest income declared as income from other sources can be treated as application of income for claiming exemption under Section 11 of the Income-tax Act, 1961.

Which sections of the Income-tax Act were involved?

Section 143(3),Section 11

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, DELHI BENCH: “SMC” NEW DELHI

Before: SHRI SATBEER SINGH GODARA

Hearing: 22.07.2025Pronounced: 22.07.2025

Date of hearing 22.07.2025 Date of pronouncement 22.07.2025 ORDER This assessee’s appeal for assessment year 2017-18 arises against the Commissioner of Income Tax (Appeals)/Addl./JCIT(A)- 2, Mumbai’s DIN and order no. ITBA/APL/S/250/2024- 25/1070103335(1), dated 05.11.2024, involving proceedings under section 143(3) of the Income-tax Act, 1961 (hereinafter referred to as ‘the Act’). Heard both the parties. Case file perused.

2.

It emerges during the course of hearing that the sole substantive issue which arises between the parties herein is that

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