INTERNATIONAL BUDDHIST CONFEDERATION,NEW DELHI vs. ITO, WARD EXEMPTION 1(2), DELH, NEW DELHI
Before: SHRI SATBEER SINGH GODARAAssessment Year: 2017-18 International Buddhist Confederation, Room No. 330-331, Vigyan Bhavan Annexe, Maulana Azad Road, South Avenue, New Delhi Vs. Income Tax officer, Ward- Exemption 1(2), Delhi PAN: AAAAI6962J (Appellant)
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 Assessee by Sh. Rajesh Malhotra, CA
Department by Sh. Manoj Kumar, Sr. DR
Date of hearing
22.07.2025
Date of pronouncement
22.07.2025
2 | P a g e of assessment of the assessee’s interest income derived from FDRs of Rs.13,80,000/- wherein it seeks to treat the same as application of income which stands declined in both the learned lower authorities’ respective findings.
3. Faced with this situation, learned counsel’s case is that it was on account of a technical glitch that the assessee was compelled to declare its above interest income as income from other sources in the return; and, therefore, the same deserves to be treated as eligible income for the purpose of claiming section 11 exemption.
The tribunal hereby see no merit in the assessee’s instant sole substantive ground once it had itself claimed the above interest income as income from other sources. Both the learned lower authorities’ respective findings stand upheld therefore.
4. This assessee’s appeal is dismissed.
Order pronounced in the open court on 22nd July, 2025 (SATBEER SINGH GODARA)
JUDICIAL MEMBER
Dated: 22nd July, 2025. RK/-