TATTWAJNANA VIDYAPEETH,MUMBAI vs. DCIT (E)-2(1), MUMBAI

ITA 4799/MUM/2024Status: DisposedITAT Mumbai27 November 2024AY 2011-12Bench: SHRI SANDEEP GOSAIN, HON'BLE (Judicial Member), SHRI PRABHASH SHANKAR, HON'BLE (Accountant Member)1 pages
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What did the Tribunal hold?

The Tribunal held that income exempt under Section 10 cannot be brought to tax under Section 11, following the decision of the Jurisdictional High Court. The matter was remanded to the AO for verifying the claim regarding tax deducted at source.

What were the facts?

The assessee challenged reassessment proceedings and the addition of exempt income (dividend and agricultural income) to its total income. The assessee argued that income exempt under Section 10 cannot be subjected to Section 11.

What were the issues?

Whether income exempt under Section 10 is taxable under Section 11, and whether reassessment proceedings were validly initiated.

Which sections of the Income-tax Act were involved?

Section 10,Section 11,Section 147

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Cases cited in this judgment(3)Show list

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Income Tax Appellate Tribunal, “E” BENCH, MUMBAI

Before: SHRI SANDEEP GOSAIN, HON’BLE & SHRI PRABHASH SHANKAR, HON’BLE

For Appellant: Shri Rajesh Shah, A/R
Hearing: 19/11/2024Pronounced: 27/11/2024

Heard together (3 matters)

I.T.A. No.4800/Mum/2024
I.T.A. No. 4798/Mum/2024
I.T.A. No. 4799/Mum/2024

Read from the judgment's own cause title. This page is filed under one of them.

PER SANDEEP GOSAIN, JM: The present appeals by theassesseeare preferred against the separate orders passed by the NFAC, Delhi [hereinafter ‘the ld. CIT(A)’]dated 30/07/2024, 29/07/2024 & 01/08/2024pertaining to AYs2009-10, 2010-11 & 2011-12 respectively.

2.

As the issues arising in all these appeals are identical, they were heard together and are disposed off by way of this common order.

3.

At the concession of the representatives, we have heard the appeal for AY 2009-10 and are conside

The order continues below.

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