NATIONAL INSTITUTE OF BANK MANAGEMENT,MUMBAI vs. ACIT EXEMPTION CIRCLE 2, MUMBAI
Income Tax Appellate Tribunal, MUMBAI “B” BENCH : MUMBAI
Before: SHRI B.R. BASKARAN & SHRI SANDEEP GOSAINAssessment Year : 2016-17
PER B.R. BASKARAN, A.M :
The assessee has filed this appeal challenging the order dt.26-11-2024 passed by the Ld. Commissioner of Income Tax
(Appeals)-National Faceless Appeal Centre (NFAC), Delhi [„Ld.CIT(A)‟]
and it relates to AY. 2016-17. The assessee is aggrieved by the decision of the Ld.CIT(A) in confirming the order passed by the AO u/s. 154 of the Income Tax Act, 1961 („the Act‟); wherein the AO had levied tax at the rate of maximum marginal rate on the assessee u/s. 167B of the Act.
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2. We heard the parties and perused the record. The Ld.AR submitted that the assessee is a Society registered under the Societies
Registration Act, 1860 on 24-09-1969. This fact is very much known to the revenue since many years. The assessee is also granted registration u/s 12A of the Act as Society only. The Ld A.R also produced a copy of a Certificate of registration dt. 24-09-1969 issued by the Asst.