KEDARNATH VIDYA PRASARINI,NEHRU NAGAR, KURLA vs. ITO, PEDDAR ROAD, MUMBAI

ITA 1321/MUM/2024Status: DisposedITAT Mumbai29 July 2024AY 2017-18Bench: SHRI AMARJIT SINGH (Accountant Member), SHRI ANIKESH BANERJEE (Judicial Member)1 pages
AI SummaryAllowed

What did the Tribunal hold?

The Tribunal noted that Form 10B was filed and the utilization of funds was explained. However, the appeal before the CIT(A) was ex-parte, denying the assessee a reasonable opportunity. Therefore, the appeal order was set aside.

What were the facts?

The assessee, a charitable trust, claimed accumulation of Rs. 99 lakhs under Section 11(2) but failed to file Form No. 10 by the due date. The AO added back the entire amount to the assessee's total income for non-compliance. The CIT(A) upheld the AO's order ex-parte.

What were the issues?

Whether the addition of the accumulated sum to the total income was justified due to the non-filing of Form 10 and whether the ex-parte order by CIT(A) denied a reasonable opportunity.

Which sections of the Income-tax Act were involved?

Section 11(2),Section 11(2)(c),Section 11(5),Section 139(1),Section 143(3),Section 250,Section 10(23C)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, MUMBAI BENCH “E”, MUMBAI

Before: SHRIAMARJIT SINGH & SHRI ANIKESH BANERJEE

Hearing: 25/07/2024

PER ANIKESH BANERJEE, J.M:

Instant appeal of the assessee was filed against the order of theLearned National Faceless Appeal Centre (NFAC), Delhi [for brevity, ‘Ld.CIT(A)’] passed under section 250 of the Income-tax Act, 1961 (in short, ‘the Act’), for Assessment Year 2017-18, date of order22.01.2024.The impugned order emanated from the order of the Learned Income-tax Officer, Exem.Ward 1(4), Mumbai (in short, ‘the A.O.’) passed under section 143(3)of the Act, date of order20/12/2019. 2. The assessee has taken the following grounds of appeal:-

“1. He Learned Income Tax Officer has erred in adding Rs.99,00,000/- to the total returned income of the ass

The order continues below.

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