2023 (3) TMI 990 - SC - Income Tax

Exemption u/s 11 - activity for charitable purpose in terms of Section 2(15) - Tribunal holding that assessee carried on activity for charitable purpose in terms of Section 2(15) and directing Commissioner of Income Tax to grant registration under Section 12-AA - HC held that expression charitable purpose charity is soul of the expression. Mere trade and commerce in education cannot be said to be a charitable purpose - HELD THAT - Appellant states that the present appeal has rendered infructuous as the appellant-National Institute of Aeronautical Engineering Educational Society, was subsequently granted benefit under Section 10 (23C) of the Income Tax Act, 1961. Further, notices which were issued under Section 148 of the aforesaid Act for reopening were consequently dropped. In view of the statement made, the present appeal is dismissed as infructuous.

Summary

The Supreme Court dismissed the appeal as infructuous because the appellant was granted benefit under Section 10(23C) of the Income Tax Act, 1961, and notices for reopening under Section 148 were dropped.