ITO, CHENNAI V. V.Ramakrishna Charitable Trust, CHENNAI

MA 191/CHNY/2015

• Counselvise Citation: [2016] 124 COUNSELVISE.COM (IT) 4028 (ITAT-CHENNAI)
• Duration Of Justice: 3 month(s) 21 day(s)
• Appeal Type: Miscellaneous Application
• Pronouncement Date: 19-02-2016
• Appeal Filed By: Department
• Bench Allotted: C
• Next Hearing Date: 19-02-2016
• Assessment Year: 2011-2012
• Appeal Filed On: 28-10-2015
• Court: TRIBUNAL
• Department Lawyers: A V SREEKANTH JCITD R
• Assessee Lawyers: R VIJAYARAGHAVAN
• Section: 11

Judgement Text

, , IN THE INCOME TAX APPELLATE TRIBUNAL C BENCH, CHENNAI , ! . ' #$ BEFORE SHRI CHANDRA POOJARI, ACCOUNTANT MEMBER AND SHRI G.PAVAN KUMAR, JUDICIAL MEMBER M.P.NO.191/MDS./2015 (I.T.A.NO.92 /MDS./2015 ASSESSMENT YEAR :2011-12) INCOME TAX OFFICER(EXEMPTONS) WARD-I,ANNEXE BUILDING,III FLOOR, 121,MAHATMA GANDHI ROAD, CHENNAI 600 034. VS. M/S.V.RAMAKRISHNA CHAITABLE TRUST, NO.2,DR.P.V.CHERIAN CRESCENT RAMAKRISHNA BUILDINGS, EGMORE, CHENNAI 600008. PAN AAATV 0025 C ( %& / APPELLANT ) ( '(%& / RESPONDENT ) / APPELLANT BY : MR.A.V.SREEKANTH,JCIT,D.R / RESPONDENT BY : MR.R.VIJAYARAGHAVAN,ADVOCATE / DATE OF HEARING : 19 .02.2016 /DATE OF PRONOUNCEMENT : 19.02.2016 ) / O R D E R PER CHANDRA POOJARI, ACCOUNTANT MEMBER: THIS MISCELLANEOUS APPLICATION IS FILED BY THE DE PARTMENT SEEKING RECTIFICATION OF THE ORDER OF THE TRIBUNAL IN ITA NO.92/MDS./2015 VIDE ORDER DATED 15.05.2015. MP NO.191/MDS/2015 2 2. LD.D.R SUBMITTED THAT ASSESSEE WAS IN APPEAL BE FORE THIS TRIBUNAL WITH REGARD TO APPLICABILITY OF SEC.11(1) OF THE ACT ONLY AND THERE IS NO ISSUE BEFORE THIS TRIBUNAL WITH REGARD TO THE VIOLATION OF SEC.11(2) OF THE ACT. HOWEVER, THE TRIBUNAL EXCEED S THE JURISDICTION OF GIVING FINDINGS OF CLAIMING U/S.11(2) OF THE ACT IN PARA-11 OF THAT ORDER AS FOLLOWS:0 11. WITH REGARD TO ALLOWANCE OF DEDUCTION OVER AND ABOV E 15% OF THE INCOME, FOR WHICH THE ASSESSEE IS TO SATISFY THE CO NDITIONS LAID DOWN IN SECTION 11(2) OF THE ACT. AS PER THE DISCUSSION MAD E ABOVE, THE REQUIREMENT OF SECTION 11(2) IS THAT IF SUCH INCOME IS ACCUMULATED OR SET APART, THEN SUCH INCOME SHALL NOT BE INCLUDED I N THE TOTAL INCOME OF THE PREVIOUS YEAR IF SUCH PERSON SPECIFIES BY NOTIC E IN WRITING GIVEN TO THE ASSESSING OFFICER IN PRESCRIBED MANNER, THE PUR POSE FOR WHICH THE INCOME IS BEING ACCUMULATED OR SET APART AND THE PE RIOD FOR WHICH THE INCOME IS TO BE ACCUMULATED OR SET APART, WHICH SHA LL, IN NO CASE EXCEED 10 YEARS. THE MONEY SO ACCUMULATED OR SET AP ART IS INVESTED OR DEPOSITED IN THE FORMS OR MODES SPECIFIED IN SUB SE CTION (5) OF SECTION 11 OF THE ACT. A REGARDS THE CONDITION IN RESPECT O F FURNISHING OF PRESCRIBED FORM 10 WE HAVE GIVEN THE FINDING THAT F ORM NO.10 SUBMITTED BEFORE THE COMPLETION OF THE ASSESSMENT I S REQUIRED TO BE CONSIDERED IF THE CONDITION AS LAID DOWN IN SECTION 11(2)(A) IS SATISFIED. HOWEVER, AS REGARD THE CONDITION (B) OF SECTION 11( 2) THAT THE MONEY SO ACCUMULATED OR SET APART IS INVESTED OR DEPOSITE D IN THE FORM OR MODE SPECIFIED IN SUB SECTION (5) OF SECTION 11 IS SUBJECT TO VERIFICATION. WE, THEREFORE, THINK PROPER TO SEND THIS ISSUE TO T HE FILE OF THE ASSESSING OFFICER WITH A DIRECTION TO VERIFY THE SA ID CONDITION OF CLAUSE (B) OF SECTION 11(2) OF THE ACT AS TO WHETHER THE A SSESSEE HAS MADE INVESTMENT IN THE PRESCRIBED SECURITIES OR NOT. ACC ORDINGLY, THE ASSESSING OFFICER WILL DECIDE THIS ISSUE AFTER PROV IDING OPPORTUNITY OF HEARING TO THE ASSESSEE AND THE ISSUE IN DISPUTE IS REMITTED TO ASSESSING OFFICER FOR FRESH CONSIDERATION. MP NO.191/MDS/2015 3 AFTER HEARING BOTH THE PARTIES, WE ARE OF THE OPINI ON THAT THERE IS FORCE IN THE ARGUMENT OF THE LD.D.R. ACCORDINGLY, PARA-1 1 OF THAT ORDER IS DELETED. HOWEVER, THERE IS NO CHANGE IN THE FINAL RESULT OF THE ASSESSEES APPEAL. IT IS ONLY PARTLY ALLOWED FOR S TATISTICAL PURPOSES. 3. IN THE RESULT, THE MISCELLANEOUS APPLICATION FIL ED BY THE DEPARTMENT IS ALLOWED. ORDER PRONOUNCED ON FRIDAY, THE 19 TH OF FEBRUARY,2016 AT CHENNAI. SD/- SD/- ( . ) (G.PAVAN KUMAR) ( ( ! ) ) ' CHANDRA POOJARI #$ JUDICIAL MEMBER ACCOUNTANT MEMBER CHENNAI, DATED THE 19 TH FEBRUARY,2016 . K S SUNDARAM. %&'$$() *$ +* /COPY TO: $ 1. /APPELLANT 2. /RESPONDENT 3. % $% ,$' # /CIT(A) 4. % $% , /CIT 5. *-.$((/0 /DR 6. .12$3 /GF