ITO(EXEMPTIONS), VADODARA vs. SHETHANI MANEKBAI CHERITABLE TRUST , KAPADWANJ

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ITA 1449/AHD/2024Status: DisposedITAT Ahmedabad13 December 2024Bench: DR.BRR KUMAR, VICE PRESIDENT SHRI TR SENTHIL KUMAR (Judicial Member)2 pages
AI SummaryDismissed

What did the Tribunal hold?

The Tribunal dismissed the appeal filed by the Revenue. This was based on the submission by the Revenue's representative that the tax effect involved was below the limit prescribed by the CBDT circular.

What were the facts?

The Revenue appealed the CIT(A)'s order allowing exemption to the assessee trust. The grounds of appeal questioned the exemption granted under Section 11(1)(d) without registration under Section 12A and without furnishing the audit report in Form 10B.

What were the issues?

Whether the exemption under Section 11(1)(d) can be granted without registration under Section 12A and without furnishing the audit report in Form 10B. The appeal was dismissed on the grounds of low tax effect.

Which sections of the Income-tax Act were involved?

Section 11(1)(d),Section 12A

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “C” BENCH, AHMEDABAD

Before: DR.BRR KUMARSHRI TR SENTHIL KUMAR

For Appellant: Shri AP Singh, CIT.DR
For Respondent: Ms Amrin Pathan, AR
Hearing: 11.12.2024Pronounced: 13.12.2024

IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH, AHMEDABAD BEFORE DR.BRR KUMAR, VICE PRESIDENT SHRI TR SENTHIL KUMAR, JUDICIAL MEMBER (Assessment Year: 2016-17) The Income Tax Officer Vs. Shethani Manekbai Charitable (Exemptions), Trust, Vadodara. Modiya Street, Dalal Wada, Kapadwanj, Gujarat-387620 [PAN No.AABTS1222M] (Appellant) (Respondent) .. Appellant by : Shri AP Singh, CIT.DR Respondent by: Ms Amrin Pathan, AR Date of Hearing 11.12.2024 Date of Pronouncement 13.12.2024 O R D E R PER: DR. BRR KUMAR, VICE PRESIDENT:

This appeal has been filed by the Revenue against the order passed by the Ld.Commissioner of Income Tax (Appeals), vide order dated 07.06.2024, passed for the Assessment Year 2016-17.

2.

The Assessee has taken the following grounds of appeal:-

1. Whether the Ld.CIT(A) has erred in the law and on facts in allowing the exemption of Rs.1,68,99,572/- u/s. 11(1)(d) of the Act despite the fact that the assessee is not registered under section 12A of the Act.

2. Prejudice to question no.1, whether the Ld.CIT(A) has erred in the law and on fact in allowing the exemption of Rs.1,68,99,572/- u/s.11(1)(d) of the Act despite the fact that the assessee has not furnished audit report in form 10B within due date as required under section 12A of the Act.

ITO vs. Shethani Manekbai Charitable Trust Asst.Year –2016-17 - 2–

3. The revenue craves to add, alter amend modify, substitute, delete and/or rescind all or any grounds of appeal on or before the final hearing, if necessary, so arises.

3.

At the outset, the Ld. DR fairly submitted that the Tax effect involved in this appeal is below the tax limit prescribed by the CBDT Circular No. 09/2024 dated 17.09.2024. Accordingly, the appeal of the Revenue is hereby dismissed as infructuous.

4.

In the result, the appeal of the revenue is dismissed due to low tax effect.

Order pronounced in Open Court on 13.12.2024

Sd/- Sd/- (TR SENTHIL KUMAR) (DR. BRR KUMAR) JUDICIAL MEMBER VICE PRESIDENT Ahmedabad; Dated 13.12.2024 Manish, Sr. PS TRUE COPY आदेश क� ��त�ल�प अ�े�षत आदेश क� ��त�ल�प अ�े�षत/Copy of the Order forwarded to : आदेश क� ��त�ल�प अ�े�षत आदेश क� ��त�ल�प अ�े�षत 1. अपीलाथ� / The Appellant 2. ��यथ� / The Respondent. 3. संबं�धत आयकर आयु त / Concerned CIT 4. आयकर आयु त(अपील) / The CIT(A)- 5. �वभागीय ��त�न�ध, आयकर अपील(य अ�धकरण, अहमदाबाद / DR, ITAT, Ahmedabad 6. गाड- फाईल / Guard file. आदेशानुसार/ BY ORDER, आदेशानुसार आदेशानुसार आदेशानुसार

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