9911796707
TMI Blog2013 (7) TMI 225X X X X Extracts X X X X X X X X Extracts X X X X ..... 1/2012 - - - Dated:- 19-6-2013 - Hon. Shri Justice Krishn Kumar Lahoti, Acting C.J. And Hon. Shri Justice M.A. Siddiqui,JJ. For the Appellant : Shri Sanjay Lal, Advocate For the Respondent : Shri Mukesh Agrawal, Advocate ORDER Per Krishn Kumar Lahoti, J: As both the appeals are preferred on similar grounds before this Court, both the appeals are being decided by this common order. For the convenience, we have taken facts from I.T.A. No.169/2012. 2. This appeal is directed against an order dated 09.05.2012 by the Income Tax Appellate Tribunal, Indore Bench, Indore in I.T.A. No.73/Ind/2011 by which an appeal preferred by the assessee against the order of the Commissioner of Income Tax (Appeals) in Appeal No.CIT(A)-I/ ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... as to provide education. The exemption was claimed under sections 11 and 12 of the Act. The assessing officer after examining the claim of the assessee had found that the CIT, Bhopal vide order dated 29.10.2007 had rejected the application of the assessee seeking approval for exemption under Section 10(23C)(vi) of the Act, therefore, the assessee's case was to be examined under Section 13 of the Act and the Trust was required to be registered under Section 12A of the Act. The assessing officer had found that section 13(1) was applicable and sections 11 and 12 were not applicable and the assessee was liable to be assessed accordingly. The assessing officer further directed for initiating penalty proceedings under Section 271(1)(c) of the Act ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... in providing education. The similar loans were given by the assessee society in the year 2004-2005 and the same issue was raised before the Tribunal and the Tribunal vide order dated 27.11.2009 had decided the same in favour of the assessee. The Tribunal have further found that M/s Pyramid Education Society was not registered under Section 12AA of the Act but was a charitable society registered with the Registrar of Societies under the M.P. Societies Registration Act, 1973 with the same object of education. The amount of loan lent to the Society was Rs.69,370/-. The Commissioner of Income Tax (Appeals) had applied the provisions of section 13(3) read with section 13(2)(a) of the Act. For application of the aforesaid provision, share in pro ..... X X X X Extracts X X X X X X X X Extracts X X X X
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