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2018 (7) TMI 2012 - HC - Income TaxExemptions u/s. 11 12 - applicability of Section 2(15) - HELD THAT - It is required to be noted that as such by the impugned order and after having noted the decisions of this Court in the case of Ahmedabad Urban Development Authority Vs. ACIT (Exemption) 2017 (5) TMI 1468 - GUJARAT HIGH COURT and CIT Vs. Gujarat Industrial Development Corporation 2017 (7) TMI 811 - GUJARAT HIGH COURT learned Tribunal has restored the issue to the file of the Assessing Officer to conclude the issue de novo. No question of law arises. We do not propose to interfere with the impugned order of remand. On the basis of the material on record, which may be before the AO, the Assessing Officer may consider the applicability of the aforesaid two decisions vis-a-vis the activities being carried out by the assessee. Under the circumstances, present Tax Appeal deserves to be dismissed and is accordingly dismissed.
Issues involved:
1. Challenge to the impugned judgment and order passed by the Income Tax Appellate Tribunal regarding deduction/exemptions u/s. 11 & 12 of the Act for the Assessment Year 2011-12. 2. Justification of the Appellate Tribunal's decision to set aside the issue in view of the applicability of Section 2(15) of the Act and previous court judgments. Analysis: Issue 1: The appellant challenged the judgment of the Income Tax Appellate Tribunal regarding the deduction/exemptions under sections 11 & 12 of the Act for the Assessment Year 2011-12. The Tribunal had remanded the issue to the Assessing Officer for fresh consideration in light of specific court decisions. The appellant contended that sufficient opportunities were given during the assessment proceedings. However, the High Court, after hearing the arguments, upheld the Tribunal's decision of remand. The Court emphasized that the Assessing Officer should re-examine the issue based on the material available and consider the applicability of the relevant court decisions to the assessee's activities. Consequently, the Tax Appeal was dismissed. Issue 2: The second issue involved the justification of the Appellate Tribunal's decision to set aside the deduction/exemptions issue under sections 11 & 12 of the Act. The Tribunal had considered the applicability of Section 2(15) of the Act and previous court judgments, including the cases of Ahmedabad Urban Development Authority Vs. ACIT (Exemption) and CIT Vs. Gujarat Industrial Development Corporation. The appellant argued against the Tribunal's decision, citing that the Department had filed Special Leave Petitions (SLPs) before the Supreme Court challenging those judgments. However, the High Court found no merit in the appellant's contentions and upheld the Tribunal's decision of remand for fresh assessment by the Assessing Officer. The Court emphasized the need for a thorough re-evaluation of the issue in light of the relevant legal provisions and court decisions. In conclusion, the High Court dismissed the Tax Appeal, affirming the Tribunal's decision to remand the issue of deduction/exemptions under sections 11 & 12 of the Act for fresh consideration by the Assessing Officer. The Court stressed the importance of a comprehensive review of the matter based on the available material and relevant legal precedents to ensure a just and informed decision.
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