TIRUPUR THOZHIL PATHUKAPPU KULU,TIRUPPUR vs. ACIT, EXEMPTIONS , COIMBATORE

ITA 1086/CHNY/2023Status: DisposedITAT Chennai10 January 2024AY 2020-21Bench: SHRI MAHAVIR SINGH (Vice President)4 pages
AI SummaryAllowed

What did the Tribunal hold?

The Tribunal held that since the assessee did not have 12A registration for AY 2020-21, it should be assessed as an AOP. Tax should be computed on the surplus income and charged as prescribed under Section 164(1)(iv) of the Act, as per CBDT Circular No. 320.

What were the facts?

The assessee trust sought registration under Section 12A of the Income Tax Act for AY 2020-21, but it was granted only from AY 2021-22 onwards. The assessee requested to be assessed as an Association of Persons (AOP) for AY 2020-21.

What were the issues?

Whether the assessee trust, lacking 12A registration for the relevant assessment year, should be assessed as an AOP and taxed on its surplus income.

Which sections of the Income-tax Act were involved?

Section 12A,Section 143(3),Section 144B,Section 164(1)(iv)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, ‘B’ (SMC

Before: SHRI MAHAVIR SINGH

Hearing: 02.01.2024Pronounced: 10.01.2024

This appeal by the assessee is arising out of the order of the Commissioner of Income Tax (Appeals), National Faceless Appeal Centre (NFAC), Delhi in Order No.ITBA/NFAC/S/250/2023- 24/1054810703(1) dated 02.08.2023. The assessment order was passed by the Assessing Officer, Assessment Unit, Income Tax Department for the assessment year 2020-21 u/s.143(3) r.w.s.144B of the Income Tax Act, 1961 (hereinafter the ‘Act’) vide order dated 31.08.2022. 2. At the outset, the ld.counsel for the assessee fairly admitted that

The order continues below.

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