Section 69C Addition Not Justified for Educational Recorded Expenses: ITAT Bangalore

Vishwabharathi Charitable Trust Vs ITO (ITAT Bangalore)

AO Cannot Treat Recorded Educational Expenses as ‘Unexplained’ u/s 69C- Charitable Trust Running Nursing College To Be Assessed as AOP/BOI If Exemption Denied- Bang Trib

Assessee, a newly established charitable trust running Sri Sharda Nursing College, filed its return of income in ITR-7 declaring NIL income. It had receipts of ₹22.23 lakh (mainly student fees) & expenditure of ₹30.45 lakh, resulting in a deficit of ₹8.22 lakh. The trust was not registered u/s 12AA/12AB or u/s 10(23C).

Assessment

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