ITO (EXEMPTION),WARD VADODARA, VADODARA vs. MML CHOUDHRY CHARITBALE & EDUCATION TRUST, HARI NAGAR

ITA 645/AHD/2025Status: DisposedITAT Ahmedabad26 June 2025AY 2022-23Bench: Shri T.R. Senthil Kumar (Judicial Member), Shri Narendra Prasad Sinha (Accountant Member)6 pages
AI SummaryDismissed

What did the Tribunal hold?

The CIT(A) allowed the assessee's appeal, holding that the revised Form 10, rectifying a typographical error, should be considered for accumulation under Section 11(2) and 11(5). The ITAT upheld the CIT(A)'s decision, dismissing the Revenue's appeal, affirming that exemption cannot be denied due to wrong details in the original audit report if verifiable.

What were the facts?

An Educational Trust declared Nil income, claiming exemption under Section 11. Due to a clerical error, Form 10 showed Rs. 3,75,000/- instead of Rs. 3.75 crores for accumulation. The CPC denied the exemption under Section 143(1) and rejected the rectification petition due to belated filing of Form 10.

What were the issues?

Whether a revised Form 10, rectifying a typographical error regarding accumulated funds, can be considered for claiming exemption under Section 11(2) of the Income Tax Act, even if filed belatedly, when the assessee's intention and investment mode are verifiable.

Which sections of the Income-tax Act were involved?

Section 11,Section 11(2),Section 11(5),Section 143(1),Section 154,Section 11(2)(c)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, AHMEDABAD “C” BENCH

Before: Shri T.R. Senthil Kumar & Shri Narendra Prasad Sinha

PER : T.R. SENTHIL KUMAR, JUDICIAL MEMBER:-

This appeal is filed by the Revenue as against the appellate order dated 30.01.2025 passed by the Commissioner of Income Tax (Appeals), National Faceless Appeal Centre, Delhi, (in short referred to as “CIT(A)”), arising out of the rectification order passed under section 154 of the Income Tax Act, 1961 (hereinafter referred to as ‘the Act’) relating to the Assessment Year 2022-23. 2. Brief facts of the case is that the assessee is an Educational Trust filed its Return of Income for the Asst. Year 2022-23 on 03- 10-2022 declaring Nil income after claiming exemption u/s. 11 of I.T.A No. 645/Ahd/2025 A.Y. 2022

The order continues below.

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