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

ITA 6558/MUM/2025Status: DisposedITAT Mumbai29 December 2025AY 2018-19Bench: SMT. BEENA PILLAI (Judicial Member), SHRI MAKARAND VASANT MAHADEOKAR ( (Accountant Member)1 pages
AI SummaryPartly Allowed

What did the Tribunal hold?

The Tribunal admitted additional grounds regarding the condonation of delay in filing Form 10. It directed the Assessing Officer to consider the assessee's claim for both assessment years, emphasizing substantial justice over technicalities and granting an opportunity of being heard.

What were the facts?

The assessee, a charitable trust, received CSR funds which were treated as income by the Assessing Officer. The assessee argued these funds were corpus donations with specific utilization directions and not voluntary income. The delay in filing Form 10 for accumulation was also an issue.

What were the issues?

Whether CSR contributions received by a charitable trust are to be treated as income under Section 11, and whether a delay in filing Form 10 for accumulation 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

AI-generated summary — verify with the full judgment below

Cases cited in this judgment(8)Show list

Detected automatically from the text. Citations are also linked where they appear in the judgment. The count shows how many other judgments on BharatTax rely on the same authority.

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 borro

The order continues below.

Read the full judgment

A free account opens 10 full judgments a month. Re-reading one you have already opened does not count again.

Create a free accountSign in

See plans and prices

The summary, the parties, the sections and the citations above are open to everyone and always will be. Only the text of the order and the PDF are metered.

More judgments on Section 147

All 49,210 judgments and leading authorities on Section 147 →

Recent GST High Court judgments

Search GST case law →