GLOBAL INSTITUTE OF TECHNOLOGY SOCIETY,JAIPUR vs. DCIT-CIRCLE-EXEMPTION, JAIPUR

ITA 296/JPR/2024Status: DisposedITAT Jaipur11 December 2024AY 2017-18Bench: DR. S. SEETHALAKSHMI (Judicial Member), SHRI RATHOD KAMLESH JAYANTBHAI (Accountant Member)1 pages
AI SummaryPartly Allowed

What did the Tribunal hold?

The Tribunal partly allowed the assessee's appeal by deleting the addition sustained by the CIT(A) on account of salary paid to Shri M.L. Kandoi. The Tribunal dismissed the Department's appeals, upholding the CIT(A)'s decision on various grounds, including salary, interest, and development fees.

What were the facts?

The assessee society challenged additions made by the AO on account of salary paid to specified persons and certain fees. The Revenue appealed against the CIT(A)'s deletion of additions related to salary, interest, and development fees, and also challenged the allowance of exemption.

What were the issues?

Whether salary paid to specified persons was excessive and whether certain fees and development fees were revenue or capital in nature, impacting the exemption under Sections 11 & 12.

Which sections of the Income-tax Act were involved?

Section 13(3),Section 13(1)(c),Section 11,Section 12

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, JAIPUR BENCHES, ‘’B” JAIPUR

Before: DR. S. SEETHALAKSHMI, JM & SHRI RATHOD KAMLESH JAYANTBHAI, AM vk;djvihy la-@ITA No.296& 297 /JP/2024

Hearing: 13/11/2024

PER: RATHOD KAMLESH JAYANTBHAI, AM These above mentioned four Appeals are the Cross Appeals filed against two different orders of the ld. CIT(A) da

The order continues below.

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