REGIONALSPORTS CENTRE,COCHIN vs. THE JT CIT(OSD)(EXEMPTION), COCHIN
In the result, the appeal of the assessee is allowed for statistical purposes and that of the Revenue is dismissed
ITA 568/COCH/2014[2006-07]Status: DisposedITAT Cochin05 Oct 2017AY 2006-07
Bench: Shri P. K. Bansal & Shri George George K.Assessment Year:2006-07 Vs Regional Sports Centre, Jt. Director Of Income Tax (Osd) Elamjulam Road, Kadavanthara, (Exemptions), Range-4, Kochi. Kochi. Pan:Aaatr 8832 M (Appellant) (Respondent) Assessment Year:2006-07 Vs A.C.I.T. (Exemptions), Regional Sports Centre, Kochi. Elamjulam Road, Kadavanthara, Kochi. Pan:Aaatr 8832 M (Appellant) (Respondent)
Section 11Section 12ASection 143(3)Section 147
12A of the Act. The return for the impugned assessment year was filed on 31/10/2006 declaring nil income.
The assessment was completed under section 143(3) of the Act on nil income showing excess application at Rs.19,76,692/-. Subsequently, the assessment was reopened by recording the following reasons:
“On verification of the assessment records