M/S AVM CHARITIES,CHENNAI vs. ITO,EXEMPTION WARD, CHENNAI

ITA 1638/CHNY/2023Status: DisposedITAT Chennai27 March 2024AY 2018-19Bench: SHRI V. DURGA RAO, HON’BLE (Judicial Member), SHRI MANJUNATHA. G, HON’BLE (Accountant Member)42 pages
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What did the Tribunal hold?

The Tribunal held that the AO and CIT(A) erred in invoking Section 13(1)(c) regarding rental income. For depreciation, it was allowed for AYs 2012-15 but disallowed for AYs 2015-19 due to amendment in Section 11(6).

What were the facts?

The assessee, a charitable trust, claimed exemption under Section 11. The Assessing Officer (AO) denied exemption and made additions, which were upheld by the CIT(A). The assessee appealed against these orders for assessment years 2012-13 to 2018-19.

What were the issues?

Whether the denial of exemption under Section 11 was justified, and whether depreciation on fixed assets should be allowed as application of income.

Which sections of the Income-tax Act were involved?

Section 11,Section 13(1)(c),Section 13(2),Section 11(6),Section 147,Section 2(15),Section 164(2),Section 32

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Cases cited in this judgment(9)Show list

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Income Tax Appellate Tribunal, ‘B’ BENCH: CHENNAI

Before: SHRI V. DURGA RAO, HON’BLE & SHRI MANJUNATHA. G, HON’BLE

Hearing: 26.02.2024

PER BENCH:

This bunch of ‘seven’ appeals filed by the assessee are directed

against separate, but identical orders of the Commissioner of Income Tax

(Appeals)-20, Chennai, all dated 30.10.2023 and pertains to assessment

years 2012-13 to 2018-19. Since, facts are identical and issues are common, for the sake of convenience, these appeals were heard together

and are being dispo

The order continues below.

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