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INCOME TAX APPELLATE TRIBUNAL (DELHI BENCH)
Shri Challag Nagendra Prasad, J, Shri Avdhesh Kumar Mishra, ACJ
Goswami Bhagwan Lal Income Tax Officer – Appellant
Versus
Aayakar Bhawan, Faridabad NIT – Respondent
| Table of Content |
|---|
| 1. factual basis for claim denial and tax implications. (Para 3 , 4) |
| 2. arguments addressing procedural failures and curable defects. (Para 5 , 6) |
| 3. court's rationale supporting the grant of appeal. (Para 9 , 10) |
ORDER
PER AVDHESH KUMAR MISHRA, AM
The appeal filed by assessee for Assessment Year (‘AY’) 2014-15 is directed against the order dated 10.01.2025 of the Additional/Joint commissioner of Income Tax (A)-7, Kolkata [‘Addl./JCIT(A)’].
2. The core issue raised in this appeal is denial of exemption under section 10(23C)(via) of the Income Tax Act, 1961 (‘Act’) and chargeability of entire gross receipts as income instead of taxing the surplus as per Income & Expenditure Account.
3. The relevant facts giving rise to this appeal are that the assessee filed its Income Tax Return (‘ITR’) on 19.09.2015 declaring NIL income after claiming exemption under section 10(23C)(via) of the Act. The audit report uploaded on the Income Tax Portal/annexed with the ITR was in Form No.10BB of the Income Tax Rules. The Ld. Assessing Officer (CPC), while processing the said ITR under section 143(1) of the Act, denied the claim of exemption under section 10(23C)(via) of the Act on reasonin
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