Punching Error in ITR No Basis for Section 11(3) Addition: ITAT Mumbai

ITO Vs Christ Church Byculla (ITAT Mumbai) Punching Error in ITR cannot justify Addition – Trust’s Accumulated Funds already applied, Sec.11(3) Addition Deleted Revenue filed appeal against the order of CIT(A) deleting addition of ₹5.36 crore made u/s 11(3) in the case of a public charitable trust established in 1933. The case was selected for scrutiny on the issue of “accumulation of income by trust”. During assessment, AO noticed that as per Schedule-I of ITR for AY 2018-19, an amount of ₹5.26 crore appeared as accumulated funds applied during the year.  Assessee explained that ...