M/s R K Educational Trust , Bangalore V. Income Tax Officer (Exemption) Ward-2 , Bangalore

ITA 1595/BANG/2017

• Counselvise Citation: [2017] 127 COUNSELVISE.COM (IT) 7149 (ITAT-BANGALORE)
• Duration Of Justice: 4 month(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 24-11-2017
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: B
• Assessment Year: 2013-2014
• Appeal Filed On: 24-07-2017
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: PALANI KUMAR
• Section: 11

Judgement Text

IN THE INCOME TAX APPELLATE TRI BUNAL BANGALORE BENCH SMC-B, BANGALORE BEFORE SHRI A.K.GARODIA, ACCOUNANT MEMBER ITA NO.1595 (BANG) 2017 (ASSESSMENT YEAR : 2013 14) M/S R. K. EDUCATIONAL TRUST, APPELLAN T #9/3, TEMPLE CROSS ROAD, SULTANPALYA, R. T. NAGAR, PROP.: HITENDRA SALES CORPORATION, PAN. AAATV0825G VS THE ITO (EXEMPTIONS), WARD 2, BENGALURU RESPONDENT ASSESSEE BY : SHRI NARENDRA SHARMA, ADVOCATE REVENUE BY : SHRI PALANI KUMAR, ADDL. CIT DATE OF HEARING : 22-11-2017 DATE OF PRONOUNCEMENT : 2 4-11-2017 O R D E R PER A. K. GARODIA, A.M.: THIS APPEAL IS FILED BY THE ASSESSEE WHICH IS DIRE CTED AGAINST THE ORDER OF CIT (A) 14, BANGALORE DATED 31.05.2017 FOR A. Y. 2013 14. 2. THE ASSESSEE HAS RAISED AS MANY AS 4 GROUNDS BUT THE EFFECTIVE GRIEVANCE IS ONLY ONE AND THAT IS THIS THAT WHETHER THE ACCUMULATION TO THE EXTENT OF 15% PERMITTED U/S 11 (1) (A) IS TO BE CAL CULATED ON NET RECEIPTS OR GROSS RECEIPTS. 3. LEARNED AR OF THE ASSESSEE SUBMITTED THAT THE IS SUE IS SQUARELY COVERED IN FAVOUR OF THE ASSESSEE BY THE JUDGMENT O F HONBLE APEX COURT RENDERED IN THE CASE OF CIT VS. PROGRAMME FOR COMMU NITY ORGANISATION AS REPORTED IN 248 ITR 1 AND IN PARTICULAR, MY ATTENT ION WAS DRAWN TO PARA 3 OF THIS JUDGMENT. LEARNED DR OF THE REVENUE SUPPORT ED THE ORDERS OF THE AUTHORITIES BELOW. ITA NO. 1595(BANG)2017 2 4. I HAVE CONSIDERED THE RIVAL SUBMISSIONS. IN THE CASE CITED BY THE LEARNED AR OF THE ASSESSEE, IT WAS HELD THAT THE AC CUMULATION HAS TO BE COMPUTED AT THE PRESCRIBED PERCENTAGE OF GROSS RECE IPT AND NOT NET RECEIPT. RESPECTFULLY FOLLOWING THIS JUDGMENT, THIS ISSUE IS DECIDED IN FAVOUR OF THE ASSESSEE. 5. IN THE RESULT, THE APPEAL OF THE ASSESSEE IS ALL OWED. ORDER PRONOUNCED IN THE OPEN COURT ON THE DATE MENT IONED ON THE CAPTION PAGE. SD/- (A.K. GARODIA) ACCOUNTANT MEMBER BANGALORE D A T E D : 24.11.2017 /MS/ COPY TO: 1. APP ELLANT 2. RESPONDENT 3. CIT 4. CIT(A) 5. DR, ITAT, BANGALORE. 6. GUARD FILE BY ORDER SENIOR PRIVATE SECRETARY, INCOME TAX APPELLATE TRIBUNAL, BANGALORE.