Assessee, a society registered under section 12, filed its return declaring nil surplus from its charitable activities. Return was processed by CPC wherein foreign contribution of certain amount received by assessee-trust was treated as income of assessee\u00a0 Assessee filed a rectification petition under section 154 whereby it sought exemption for said amount on ground that it was a voluntary contribution from foreign sources which could not be exigible to tax. However, CPC passed an order under section 154 wherein it had stated that amount of foreign contribution was not consistent with total contribution and suggested assessee to file a revised return providing correct break-up of foreign contribution as ‘corpus fund donation’ or ‘other than corpus fund donation’. It was also stated in section 154 order that in case revised return was not filed, the difference amount between schedules would be treated as other than corpus fund donation and would be taxed accordingly. Assessee attempted to file a revised return as suggested by CPC, but due to technical glitches, assessee could not upload the revised return. Assessee submitted that since the time for filing the revised return under section 139(5) had supervened, assessee failed to upload the return as the system did not accept it. Tribunal held that the revised return, which the assessee could not file due to technical glitches, was to be considered by the Assessing Officer, subject to verification of donations, and to allow a claim for exemption under section 11 to the assessee-trust. Matter remanded. (AY. 2021-22)<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 11: Property held for charitable purposes-Revised return-Break-up of foreign contribution as ‘corpus fund donation’ or ‘other than corpus fund donation’-Failure to upload revised return-Revised return which assessee could not file due to technical glitches was to be considered by Assessing Officer subject to verification of donations and to allow claim for exemption under section 11 to assessee-trust [S. 12, 139(5), 143(1), 154]<\/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_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_feature_clip_id":0,"_jetpack_memberships_contains_paid_content":false,"footnotes":"","jetpack_post_was_ever_published":false},"categories":[21],"tags":[],"class_list":["post-61287","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-fWv","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/61287","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=61287"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/61287\/revisions"}],"predecessor-version":[{"id":61288,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/61287\/revisions\/61288"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=61287"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=61287"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=61287"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}