LA MARTINIERE PROVIDEND FUND. ,KOLKATA vs. ITO, EXEMPTION, WARD-1(4), KOLKATA. , KOLKATA

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ITA 856/KOL/2023Status: DisposedITAT Kolkata08 February 2024AY 2018-19Bench: Shri Sanjay Garg (Judicial Member), Shri Girish Agrawal (Accountant Member)3 pages
AI SummaryRemanded

What did the Tribunal hold?

The Tribunal restored the matter to the CIT(A) to examine the recognition certificate, which the assessee had now traced. The claim for exemption should be allowed if admissible after such examination.

What were the facts?

The assessee, a provident fund, claimed exemption under Section 10(25) of the Income Tax Act. The lower authorities denied this exemption because the assessee failed to furnish the recognition certificate issued by the Commissioner of Income Tax.

What were the issues?

Whether the assessee is eligible for exemption under Section 10(25) and the significance of furnishing the recognition certificate.

Which sections of the Income-tax Act were involved?

Section 10(25),Section 250

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “A” BENCH KOLKATA

Before: Shri Sanjay Garg & Shri Girish Agrawal

order : February 08, 2024 आदेश / ORDER संजय गग�, �या�यक सद�य �वारा / Per Sanjay Garg, Judicial Member: The present appeal has been preferred by the assessee against the order dated 05.07.2023 of the National Faceless Appeal Centre [hereinafter referred to as the ‘CIT(A)’] passed u/s 250 of the Income Tax Act (hereinafter referred to as the ‘Act’).

2.

The assessee in this appeal has agitated against the action of the lower authorities in denying the exemption claimed by the assessee u/s 10(25) of the Act.

3.

The contention of the ld. counsel for the assessee has been that the assessee is a provident fund duly recognised by the Commissioner of Income Tax. However, the lower authorities have rejected the claim of the assessee for exemption u/s 10(25) of the Act on the ground that the assessee has not furnished recognition certificate issued by the Assessment Year : 2018-19 La Martiniere Provident Fund Commissioner of Income Tax. The ld. counsel has submitted that earlier the said certificate was not traceable, however, now the assessee has traced the said certificate, the copy of which has been placed at page 1 of paper book. The contents of which are reproduced as under:

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