GURUDWARA KALGIDHAR SINGH SABHA,NEW DELHI vs. ITO (E) WARD - 1(2), NEW DELHI

ITA 7984/DEL/2019Status: DisposedITAT Delhi19 February 2021AY 2011-1214 pages
AI SummaryDismissed

What did the Tribunal hold?

The Tribunal held that for claiming exemption under Section 10(23C)(v), approval from the prescribed authority was mandatory for the assessment year in question. Since the assessee failed to obtain such approval, the exemption was rightly denied.

What were the facts?

The assessee, a Gurudwara, claimed exemption under Section 10(23C)(v) of the Income Tax Act for AY 2011-12. The Assessing Officer denied the exemption as the assessee failed to provide proof of approval from the prescribed authority. The CIT(A) upheld this denial.

What were the issues?

Whether approval from the prescribed authority was mandatory for claiming exemption under Section 10(23C)(v) for AY 2011-12, and if the assessee discharged its burden of proof.

Which sections of the Income-tax Act were involved?

Section 10(23C)(v)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, DELHI BENCHES “SMC-1” : DELHI

Before: SHRI BHAVNESH SAINI & SHRI O.P. KANT

Hearing: 18.02.2021Pronounced: 19.02.2021

PER BHAVNESH SAINI, J.M.

This appeal by Assessee has been directed against the Order of the Ld. CIT(A)-40, Delhi, Dated 23.08.2019, for the A.Y. 2011-2012, challenging the Order of the Ld. CIT(A) in wrongly interpreting the provisions of Section 10(23C)(v) of the I.T. Act, 1961. 2 ITA.No.7984/Del./2019 Gurudwara Kalgidhar Singh Sabha, New Delhi.

2.

We have heard the Learned Representatives of both the parties through video conferencing and perused the Orders of the authorities below.

3.

The facts of the case are that as per Individual Transaction Statement, information in this case was received that assessee has received interest other than interest on securit

The order continues below.

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