JM FINANCIAL FOUNDATION ,MUMBAI vs. ITO (EXEM) WARD 1(4), MUMBAI

ITA 6557/MUM/2025Status: DisposedITAT Mumbai29 December 2025AY 2017-18Bench: SMT. BEENA PILLAI (Judicial Member), SHRI MAKARAND VASANT MAHADEOKAR (ACCOUNTANT MEMBER) Ι.Τ.Α. Νο. 6557/Mum/2025 Assessment Year: 2017-18 (Judicial Member)1 pages
AI SummaryRemanded

What did the Tribunal hold?

The Tribunal admitted additional grounds related to condoning the delay in filing Form 10, citing substantial justice over technicalities. For AY 2018-19, it directed the assessee to approach CBDT for condonation, and for AY 2017-18, it directed the AO to consider the claim. The matter was remitted to the AO for fresh consideration.

What were the facts?

The assessee, a charitable trust, received CSR funds which were treated as income by the Assessing Officer. The trust argued these funds were corpus donations with specific utilization directions and thus capital in nature. The appeal also involved issues regarding the reopening of assessment and delayed filing of Form 10.

What were the issues?

Whether CSR funds received by a charitable trust are to be treated as income or corpus donations, and whether the delay in filing Form 10 for claiming exemption can be condoned.

Which sections of the Income-tax Act were involved?

Section 147,Section 11,Section 11(2),Section 11(1),Section 148,Section 151A

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Income Tax Appellate Tribunal, “F” BENCH, MUMBAI

Before: SMT. BEENA PILLAI & SHRI MAKARAND VASANT MAHADEOKAR

For Appellant: Dr. K Shivram, A/R
For Respondent: Ms. Kavitha Kashik, Sr. DR
Hearing: 10.12.2025Pronounced: 29.12.2025

Per Bench: Present appeal filed by assessee arises out of order dated 15/08/2025 and 16/08/2025 passed by NFAC, Delhi [hereinafter “the Ld. CIT(A)”] for assessment years 2017-18 and 2018-19 respectively, on the following grounds:-

Assessment Year – 2017-18 “1. That on the facts and circumstances of the case and in law the Ld. National Faceless Appeal Centre (NFAC) has erred on facts and in law in confirming reopening the assessment of the appellant u/s. 147 on the ground of addition of CR contribution received during the year without appreciating that there did not exist any reason to believe that income escaped assessment and reopening is on the basis of borrowed satisfaction

The order continues below.

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