SHREE VARDHMAN STANAKVASI JAIN SHRAVAK TRUST,AHMEDABAD vs. THE ITO, WARD-3(2)(1), AHMEDABAD

ITA 1881/AHD/2024Status: DisposedITAT Ahmedabad14 February 2025AY 2020-21Bench: DR. BRR KUMAR (Vice President), SHRI SIDDHARTHA NAUTIYAL (Judicial Member)10 pages
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What did the Tribunal hold?

The Tribunal held that the treatment of corpus donation as voluntary donation by the CPC falls outside the scope of adjustments under Section 143(1). Furthermore, relying on a jurisdictional High Court decision, it held that the late filing of Form 10B is a procedural defect and should not be a ground for denying exemption.

What were the facts?

The assessee, a trust, received Rs. 17,96,000/- as corpus donation for a building fund, which it claimed as exempt. The CPC, however, treated this as income during assessment under Section 143(1) due to late filing of the return and Form 10B. The CIT(A) upheld this.

What were the issues?

Whether the CPC can treat corpus donation as income under Section 143(1) for late filing of return/Form 10B, and whether late filing of Form 10B can lead to denial of exemption under Sections 11 & 12.

Which sections of the Income-tax Act were involved?

Section 12A,Section 143(1),Section 11,Section 12,Section 139(4A),Section 234A,Section 234B,Section 234C

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Income Tax Appellate Tribunal, “SMC” BENCH, AHMEDABAD

Before: DR. BRR KUMAR & SHRI SIDDHARTHA NAUTIYAL

For Appellant: Shri Parin S Shah, A.R
For Respondent: Shri V K Mangla, Sr. DR
Pronounced: 14.02.2025

PER SIDDHARTHA NAUTIYAL - JUDICIAL MEMBER:

This appeal has been filed by the Assessee against the order passed by the Ld. Commissioner of Income Tax (Appeals), (in short “Ld. CIT(A)”), ADDL/JCIT(A)-1, Gurugram vide order dated 30.08.2024 passed for A.Y. 2020-21. 2. The assessee has taken the following grounds of appeal:-

“1. The order passed by lower authorities is bad in law and required to be quashed.

2.

Ld. NFAC erred in law and on facts in treating corpus donation of Rs. 17,96,000/- as voluntary donation.

3.

Ld. NFAC erred in law and on facts in not allowing application of income Rs. 49560/- while computing income. Sh

The order continues below.

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