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1 - 10 of 11 (0.41 seconds)Section 148 in The Income Tax Act, 1961 [Entire Act]
The Commissioner Of Income Tax ... vs Shanti Devi Educational Trust Rewari ... on 20 April, 2018
c. CIT Vs Shanthi Devi Educational Trust (P & H - High Court)
Assessing officer was not justified to be included the corpus donations in
to aggregate annual receipts.
Section 154 in The Income Tax Act, 1961 [Entire Act]
Section 10 in The Income Tax Act, 1961 [Entire Act]
Sathyam Educational & Charitable Trust ... vs Ito , Nfac , Delhi, - on 6 April, 2023
5. We have heard the parties, and perused the material available on
record. The assessee during the year under consideration claimed exemption
u/s. 10(23C)(iiiad) of the Act. The A.O denied the said exemption on the
ground that the assessee has not incurred any expenditure towards educational
purpose during the year under consideration and that the total receipts of the
assessee exceeds Rs.1 Crore. In this regard, we notice that the A.O has
included a sum of Rs.20,50,000/- received by the assessee as contribution
from the trustees and that without including the said contribution the receipts
in the hands of the assessee for the year under consideration is less than Rs.1
Crore. We further notice that the Coordinate Bench in the case of M/s.
Sathyam Educational and Charitable Trust (supra) has considered the issue of
whether corpus donations should be included for the purpose of exemption
u/s. 10(23C)(iiiad) of the Act, and held that:
Acit(Exemption), Jaipur vs Mahima Shiksha Samiti, Jaipur on 3 March, 2017
16. The judgement in the case of Shiksha Samiti (supra) relied upon by
the assesseeis absolutely relevant for the present case, wherein, the
assessee's society has corpus receipt of Rs.39,14,102/- and the other
receipts of Rs.60,24,857/-,wherein, the AO has wrongly aggregated these
two receipts of the society and inferred that the annual receipts of the
assessee society have exceeded Rs.1 Cr., therefore, exemption
u/s.10(23C)(iiiad) of the Act, cannot be allowed. The addition was made
by the AO, however, the same was deleted by the Ld.CIT(A) and the ITAT
has also upheld the decision of the Ld CIT(A), held that the amount
contributed voluntarily by the donors with specific direction that it will
form part of corpus, would not constitute income of the society. Therefore,
the annual receipts of educational institutions for the purpose of section
10(23C)(iiiad) were below Rs.1 Cr. and as such exemption
u/s.10(23C)(iiiad) of the Act, was allowable.
Section 250 in The Income Tax Act, 1961 [Entire Act]
Income-Tax Officer,, vs Serum Institute Of India Research ... on 29 January, 2018
10. On the basis of principle of law laid down in the aforesaid judgments,
it was the prayer of the assessee that since aggregate annual receipt of the
school was below Rs.1 Cr., the AO has taken a stand against the
provisions and intent of law and facts of the case which was further
unjustifiably affirmed by the Ld CIT(A), therefore, it was the prayer of the
Ld AR that the order of the Ld.CIT(A) is liable to be quashed and the
exemption u/s.10(23C)(iiiad) of the Act deserves to be restored /allowed to
the assessee.