Assessing Officer denied exemption under sections 11 and 12 for reason that assessee had delayed filing Form No. 10A and Form No. 10B. Assessing Officer\u00a0 assessed gross receipt of assessee society as its income and brought same to tax. On appeal the Tribunal held that where assessee’s claim for exemption under sections 11 and 12 is\u00a0 declined, Assessing Officer is\u00a0 obligated to have considered its claim for deduction of expenses raised in income and expenditure account while deducing its taxable income.\u00a0 Matter is\u00a0 remanded \u00a0to Assessing Officer to consider its claim of deduction of expenses as debited in income and expenditure account.\u00a0 (AY. 2016-17)<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 11 : Property held for charitable purposes-Exemption declined-The Assessing Officer is obligated to have considered its claim for deduction of expenses raised in income and expenditure account while deducing its taxable income.[S. 12, Form No.10A , 10B] <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-44489","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-bzz","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/44489","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=44489"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/44489\/revisions"}],"predecessor-version":[{"id":44490,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/44489\/revisions\/44490"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=44489"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=44489"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=44489"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}