Case Law Details
Siddhagiri Gurukul Foundation Siddharameshwar Mandir Vs CIT (Exemption) (ITAT Mumbai)
The learned CIT passed an order u/s 263 of the act only for the reason that assessee has admitted in the submission that the AO has not considered the amount of donation in gross receipts in the body of assessment order and there is an error. The assessee mentioned so that it has not been included in the computation made in the assessment order, however, the assessee has categorically stated that it has already been included in the income of the assessee. This was also shown by showing the computation sheet. Thus, though there is some error in the computation of income in the body of the assessment order, however, there is no error in the computation sheet of total income. Even otherwise, in both the cases the total income of the assessee is computed at nil i.e. in the body of the assessment order as well as in the computation sheet.
For the purpose of invoking the jurisdiction u/s 263 of the income tax act, the assessment order passed by the learned assessing officer should be erroneous so far as prejudicial to the interest of revenue. In the present case we do not find that any prejudices is caused to the revenue. In view of this, we quash revisionary order passed by the learned CIT u/s 263 of the Income Tax Act on 16/3/2021 for assessment year 2016 – 17
FULL TEXT OF THE ORDER OF ITAT MUMBAI
01. This appeal is filed by Siiddhagiri Gurukul Foundation (the appellant/assessee) against the order passed by The Commissioner Of Income Tax (Exemption), Mumbai (The CIT) for assessment year 2016 – 17 passed u/s 263 of The Income Tax Act, 1961 (The Act) dated 16th of March 2021, holding that the order passed u/s 143 (3) of The Act dated 1/12/2018 by The Income Tax Officer Exemption
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