SATHYAM EDUCATIONAL & CHARITABLE TRUST ,TIRUPUR vs. ITO , NFAC , DELHI, -

In the result, appeal filed by the assessee in ITA No

Bench: Shri Mahavir Singh, Hon’Ble & Shriarun Khodpia, Hon’Bleआयकरअपीलसं./Ita Nos.611 & 612/Chny/2022 िनधा"रणवष"/Assessment Years: 2014-15 & 2015-16 V. M/S. Sathyam Educational & The Income Tax Officer, Charitable Trust, Income Tax Department, No.233, Vijay Building, National Faceless Appeal Muthur Road, Centre (Nfac), Vellakovil, Delhi. Tirupur-638 111. [Pan:Aajts 4729 D] (अपीलाथ"/Appellant) (""थ"/Respondent) अपीलाथ" की ओर से/ Appellant By : Mr.Y.Sridhar, Fca ""थ" की ओर से /Respondent By : Mr.Hema Bhupal, Jcit सुनवाईकीतारीख/Date Of Hearing : 15.03.2023 घोषणाकीतारीख /Date Of Pronouncement : 06.04.2023

disallowance of exemption of Rs.77,09,830/- made by the AO u/s 10(23C)(iiiad) vide order u/s 154 on the premise that the Gross Receipts were above Rs.1 Crore (as shown below) during the year and hence exemption is not admissible. Corpus Fund Received (Voluntary) Rs. 72,50,000 School Fees/Other income/Bank interest Rs. 77,09,830 Aggregate Gross

KUMAR MEMORIAL EDUCATIONAL TRUST,PERAMBALUR vs. ITO, EXEMPTIONS WARD.,, TRICHY

In the result, the appeal filed by the assessee stands allowed

Bench: Hon’Ble Shri Inturi Rama Rao & Shri Ss Viswanethra Raviassessment Years: 2021-22 Kumar Memorial Educational Trust, Income Tax Officer, No.21, Vellar Street, Exemption Ward, Udayarpalayam Po & Tk, Perambalur, Trichy. Tamil Nadu-621 804. [Pan: Aaatk9001H]

disallowing claim u/s 10(23C)(iiiad) for exemption on the ground that the aggregate annual receipts of the trust exceeds Rs.1 crore. 3.0 On receipt of the said intimation, the appellant’s trust filed a petition u/s 154 of the Act dated 20.05.2024 seeking the amendment of the intimation on the ground that the gross annual receipts from each educational

PRAHAR FOUNDATION,COIMBATORE vs. DCIT (EXEMPTIONS), COIMBATORE

Bench: Hon’Ble Shri Manoj Kumar Aggarwal, Am & Hon’Ble Shri Manu Kumar Giri, Jm आयकरअपील सं./ Ita Nos. 313 & 314/Chny/2024 (िनधा"रणवष" / Assessment Years: 2014-15 & 2015-16) M/S. Prahar Foundation, Vs. The Deputy Commissioner Of No.11/4, R.V.P. Complex, Income Tax (Exemptions), Ivth Cross, Bharathi Park Road, Coimbatore Saibaba Colony, Coimbatore – 641 011. [Pan: Aabtp 4191N] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/ Appellant By : Ms. N.V. Lakshmi, Advocate ""यथ" क" ओर से /Respondent By : Shri Ar.V. Srinivasan, Addl. Cit सुनवाई क" तारीख/Date Of Hearing : 09.05.2024 : 15.05.2024 घोषणा क" तारीख /Date Of Pronouncement आदेश / O R D E R Manu Kumar Giri () The Instant Two Appeals Filed By The Assessee Are Directed Against The Orders Dated 15.11.2021 & 12.11.2021 Passed By The National Faceless Appeal Centre (Nfac), Delhi, Arising Out Of The Orders Passed By The Assessing Officer (Hereinafter Referred As To As ‘The Ao’) I.E; Dcit, Exemptions Circle, Coimbatore U/S 143(3) Of The Income Tax Act, 1961 (Hereinafter Referred As To ‘The Act’) Dated 15.12.2016 & 26.12.2017 For Assessment Years 2014-15 & 2015-16 Respectively. 2. The Registry Has Noted Delay Of 752 & 755 Days In Filing The Appeals. Ld. Counsel For The Assessee Has Filed Affidavit Of The Trustee Who Is Also The Secretary Of The Trust. The Said Affidavit Is As Under: I, Praveen Kumaar, S/O Radhakrishnan, Aged 33 Years, Currently Residing At J 338, J Pocket, Sarita Vihar, New Delhi - 110076, Hereby Solemnly Affirm & Sincerely State As Follows:

disallowance of corpus collections and also treating certain unsecured loans of the trust has the income of the trust." The assessee has resorted to claim exemption under section 10(23), as an alternative source to claim exemption, when the assessee has left with no option. Having become aware that many of the loan creditors introduced by the assessee have turned

PRAHAR FOUNDATION,COIMBATORE vs. ACIT EXEMPTIONS, COIMBATORE

Bench: Hon’Ble Shri Manoj Kumar Aggarwal, Am & Hon’Ble Shri Manu Kumar Giri, Jm आयकरअपील सं./ Ita Nos. 313 & 314/Chny/2024 (िनधा"रणवष" / Assessment Years: 2014-15 & 2015-16) M/S. Prahar Foundation, Vs. The Deputy Commissioner Of No.11/4, R.V.P. Complex, Income Tax (Exemptions), Ivth Cross, Bharathi Park Road, Coimbatore Saibaba Colony, Coimbatore – 641 011. [Pan: Aabtp 4191N] (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/ Appellant By : Ms. N.V. Lakshmi, Advocate ""यथ" क" ओर से /Respondent By : Shri Ar.V. Srinivasan, Addl. Cit सुनवाई क" तारीख/Date Of Hearing : 09.05.2024 : 15.05.2024 घोषणा क" तारीख /Date Of Pronouncement आदेश / O R D E R Manu Kumar Giri () The Instant Two Appeals Filed By The Assessee Are Directed Against The Orders Dated 15.11.2021 & 12.11.2021 Passed By The National Faceless Appeal Centre (Nfac), Delhi, Arising Out Of The Orders Passed By The Assessing Officer (Hereinafter Referred As To As ‘The Ao’) I.E; Dcit, Exemptions Circle, Coimbatore U/S 143(3) Of The Income Tax Act, 1961 (Hereinafter Referred As To ‘The Act’) Dated 15.12.2016 & 26.12.2017 For Assessment Years 2014-15 & 2015-16 Respectively. 2. The Registry Has Noted Delay Of 752 & 755 Days In Filing The Appeals. Ld. Counsel For The Assessee Has Filed Affidavit Of The Trustee Who Is Also The Secretary Of The Trust. The Said Affidavit Is As Under: I, Praveen Kumaar, S/O Radhakrishnan, Aged 33 Years, Currently Residing At J 338, J Pocket, Sarita Vihar, New Delhi - 110076, Hereby Solemnly Affirm & Sincerely State As Follows:

disallowance of corpus collections and also treating certain unsecured loans of the trust has the income of the trust." The assessee has resorted to claim exemption under section 10(23), as an alternative source to claim exemption, when the assessee has left with no option. Having become aware that many of the loan creditors introduced by the assessee have turned

VELLORE INSTITUTE OF TECHNOLOGY,VELLORE vs. DCIT, CC IV(1), CHENNAI

Appeals of the Revenue are dismissed whereas that of assessee are partly allowed

Bench: Shri Abraham P. George & Shri Duvvuru Rl Reddy]

23). Surplus is to be understood in contradistinction to generation of income with the sole motive of profit if one has to properly understand the legislative intent of section 10(23C)(vi) ... "... Though charity is a laudable object, that consideration is irrelevant under the said provision. What is relevant is purpose and administration of the institution only for education

DCIT, CENTRAL CIRCLE 1(1), CHENNAI vs. VELLORE INSTITUTE OF TECHNOLOGY, VELLORE

Appeals of the Revenue are dismissed whereas that of assessee are partly allowed

Bench: Shri Abraham P. George & Shri Duvvuru Rl Reddy]

23). Surplus is to be understood in contradistinction to generation of income with the sole motive of profit if one has to properly understand the legislative intent of section 10(23C)(vi) ... "... Though charity is a laudable object, that consideration is irrelevant under the said provision. What is relevant is purpose and administration of the institution only for education

DCIT, CENTRAL CIRCLE 1(1), CHENNAI vs. VELLORE INSTITUTE OF TECHNOLOGY, VELLORE

Appeals of the Revenue are dismissed whereas that of assessee are partly allowed

Bench: Shri Abraham P. George & Shri Duvvuru Rl Reddy]

23). Surplus is to be understood in contradistinction to generation of income with the sole motive of profit if one has to properly understand the legislative intent of section 10(23C)(vi) ... "... Though charity is a laudable object, that consideration is irrelevant under the said provision. What is relevant is purpose and administration of the institution only for education

VELLORE INSTITUTE OF TECHNOLOGY,VELLORE vs. DCIT, CC IV(1), CHENNAI

Appeals of the Revenue are dismissed whereas that of assessee are partly allowed

Bench: Shri Abraham P. George & Shri Duvvuru Rl Reddy]

23). Surplus is to be understood in contradistinction to generation of income with the sole motive of profit if one has to properly understand the legislative intent of section 10(23C)(vi) ... "... Though charity is a laudable object, that consideration is irrelevant under the said provision. What is relevant is purpose and administration of the institution only for education