CENTRE OF STUDIES IN SOCIAL SCIENCES,PUNE vs. INCOME TAX OFFICER (EXEMPTION), WARD-(1), PUNE, PUNE

This is an appeal filed by the assessee directed against the order of the National Faceless Appeal Centre, Delhi [‘NFAC’] dated 03.03.2023 for the assessment year 2012-13.

Briefly, the facts of the case are that the appellant is a Public Charitable Trust engaged in undertaking researches in Social Sciences. The appellant trust was duly registered u/s 12AA of the Income Tax Act, 1961 (‘the Act’). No regular Return of Income was filed for the assessment year under consideration. However, on receipt of information that the assessee trust made a deposit of Rs.8,26,756/- with Saraswat Co-operative Bank Ltd., Pune and also received interest on such deposit of Rs.1,41,186/-, issued a notice u/s 148 on 29.03.2019. In response to the said notice, the appellant trust had filed the return of income disclosing Rs.Nil income. Against the said return of income, the assessment was completed by the Income Tax Officer (Exemptions) Ward-1, Pune (‘the Assessing Officer’) vide order dated 13.11.2019 bringing the deposits of Rs.8,26,756/- as unexplained money u/s 69A of the Act. 3. Being aggrieved by the above assessment order, an appeal was filed before the NFAC, who vide impugned order confirmed the action of the Assessing Officer by holding that no Form No.10B had been filed before the Assessing Authority. 4. Being aggrieved, the appellant is in appeal before this Tribunal in the present appeal.