This is premium content. Please become a Premium member. If you are already a member, login here to access the full content.
Revision u/s. 263 quashed as AO duly assessed NIL income due to proper application of funds
Case Law Details
- Case Name
- ACIT Vs Mother Theressa Educational Society (ITAT Visakhapatnam)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2018-19
- Courts
- All ITAT, ITAT Visakhapatnam
Upgrade to Basic or Premium to download.
Already Upgraded? Log in.
Advertisement
ACIT Vs Mother Theressa Educational Society (ITAT Visakhapatnam)
ITAT Visakhapatnam held that revision u/s. 263 quashed as AO already disallowed the claim of depreciation while framing assessment and assessed income at NIL due to proper application of funds.
Facts- The assessee being the society is registered u/s. 12A r.w.s. 12AA(1)(b) of the Act and also registered u/s. 80G of the Act. The assessee filed its return of income declaring NIL income after claiming of application of income u/s. 11 of the Act. The case was selected for complete scrutiny and accordingly the assessme...
Author Info
