OM KOTHARI FOUNDATION,JAIPUR, RAJASTHAN vs. ITO, (EXEMPTION) WARD-1, JAIPUR, JAIPUR, RAJASTHAN

ITA 57/JPR/2024Status: DisposedITAT Jaipur04 June 2024AY 2009-10Bench: SHRI SANDEEP GOSAIN (Judicial Member), DR MITHA LAL MEENA (Accountant Member)1 pages
AI SummaryPartly Allowed

What did the Tribunal hold?

The Tribunal allowed appeals for A.Y. 2009-10 and 2012-13, and partly allowed appeals for A.Y. 2014-15 and 2015-16. The decision was based on the similarity of grounds with a previously decided appeal (ITA No. 57/JP/2024) concerning building fund, corpus fund, and surplus income.

What were the facts?

The assessee, Om Kothari Foundation, filed appeals against orders of the CIT(A) for multiple assessment years. The Assessing Officer (AO) made additions and disallowed exemptions, which the assessee contested.

What were the issues?

The key issues involved the validity of reopening assessments, the applicability of exemptions under Section 11/10(23C) for trusts, and the taxability of corpus donations, building funds, and surplus income.

Which sections of the Income-tax Act were involved?

Section 147,Section 148,Section 13(1)(d)(iii),Section 12A,Section 12AA,Section 10(23C)(vi),Section 164(2),Section 164(3),Section 11,Section 13

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Income Tax Appellate Tribunal, JAIPUR BENCHES,”A” JAIPUR

Before: SHRI SANDEEP GOSAIN, JM & DR MITHA LAL MEENA, AM vk;dj vihy la-@ITA No. 57 to 60/JP/2024

Hearing: 13/03/2024

PER: SANDEEP GOSAIN, JM These are four appeals filed by the assessee against four different orders of the Ld. CIT (A)-4, Jaipur dated 28.11.2023 for the assessment years 2009-10, 2012-13, 2014-15 and 2015-16 raising therein following grounds of appeal respectively.

ITA No.57/JP/2024 – A.Y. 2009-10

1.

That the Ld. A.O. grossly erred in taking section u/s 147/148 of 1.T. Act, 1961 & reopened the case. That the Ld. CIT(A) also erred in uph

The order continues below.

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