2019 (2) TMI 1917 - HC - Income Tax

Admissibility of Sections 11 and 12 - AO had ruled that the assessee was disentitled to the exemptions - CIT(A) and the ITAT, h reversed the decision and relied upon the decision of this Court in India Trade Promotion Organization vs. DGIT 2015 (1) TMI 928 - DELHI HIGH COURT . Double benefit claimed by the assessee i.e. towards depreciation reported in respect of the assets acquired out of previous exempt income - Tribunal relied upon a binding decision of the Supreme Court in CIT vs. Rajasthan Gujarat Charitable Foundation 2017 (12) TMI 1067 - SUPREME COURT Both questions urged are answered by the decisions of this Court and the Supreme Court. Therefore, no substantial question of law arises.

Summary

The Delhi High Court dismissed the appeal regarding the admissibility of Sections 11 and 12 of the Income Tax Act. The Assessing Officer disallowed exemptions, but the CIT(A) and ITAT reversed the decision citing relevant court precedents. The Tribunal also addressed the issue of alleged double benefit claimed by the assessee, relying on a Supreme Court decision. The court concluded that no substantial question of law arose, and the appeal was dismissed.