Investment Cannot Be Treated as Income Merely for Alleged Section 13 Breach: ITAT Delhi

Jan Kalyan Samiti Vs ITO (ITAT Delhi) This appeal was filed by the assessee against the order dated 17.07.2025 passed by the Commissioner of Income-tax (Appeals), National Faceless Appeal Centre (NFAC), Delhi, for Assessment Year 2015–16. The assessee, a society registered under Section 12AA of the Income Tax Act, 1961, filed its return of income on 28.09.2015 declaring NIL income. The case was selected for scrutiny under CASS, and notices under Sections 143(2) and 142(1) were issued. During assessment proceedings, the Assessing Officer (AO) observed that the society had total receipts of Rs...