9911796707
TMI Blog2015 (7) TMI 652X X X X Extracts X X X X X X X X Extracts X X X X ..... associated with the main objects of the assessee’s Parent trust has to be recognized in consonant with the assessee’s Parent Trust “VK” viz., ‘education’, ‘relief to the poor’, ‘medical relief’, ‘preservation of monuments of places or objects of artistic or historical interest’ or ‘advancement of any other general public utility’. The issue is with respect of the sale of books, magazines, pictures, calendars, diaries and novelties etc., containing the preaching’s of swami Vivekananda which is directly attributable to the upkeep of the Sami Vivekananda Rock Memorial because it will bring an awareness to the public at large and influence them to participate in the cause of the parent trust who’s one of the objects is ‘preservation of monu ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... es, calendars, diaries and novelties wherein the second proviso to Section-2(15) of the Act is attracted. 2. The Ld. CIT (A) erred by allowing the claim of the assessee of depreciation amounting to ₹ 35,447/-. 2.2. Cross Objections The assessee has raised two grounds in support of the order of the Ld. CIT (A), however the crux of the issue is that Ld. CIT (A) erred by holding that the activities of the assessee trust are not education but in the nature of advancement of general public utility . 3. The brief facts of the case are that the assessee is a trust, registered u/s 12A(a) of the Act vide DIT(E) No.2(97)/94-95, filed its return of income for assessment year 2010-11 on 14.10.2010 admitting Nil income after claimin ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nal institutions, provide medical relief to the poor, conduct regular yoga camps, to conduct research etc. 3. The assessee also placed reliance in the case of Oxford University Press Vs. CIT in 115 Taxman 69 (SC), Secondary Board of Education Vs. ITO in 86 ITR 408(Orissa). 4. However the Ld. Assessing Officer disregarding the objects of the assessee s parent trust VK and only taking into consideration of the assessee s trust objects held that the primary objects of the assessee trust is to propagate the thoughts and teaching of Swami Vivekananda through printing, publication of books, journals, literature, pamphlets, picture post cards, diaries and other novelties like greeting cards, stickers etc. Therefore the Ld. Assessing Office ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he activities of the assessee s trust which are associated with the main objects of the assessee s Parent trust has to be recognized in consonant with the assessee s Parent Trust VK viz., education , relief to the poor , medical relief , preservation of monuments of places or objects of artistic or historical interest or advancement of any other general public utility and thereafter if the proviso of Section-2(15) of the Act is applicable to any of the activity of the assessee s trust, to that extent the benefit of Section-11 of the Act only can be withdrawn. In this case before us the issue is with respect of the sale of books, magazines, pictures, calendars, diaries and novelties etc., containing the preaching s of swami Vivekana ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ivities of the assessee trust which is associated with the activity of the parent trust has to be treated in parity with activity of the assessee s parent trust and accordingly in the case of the assessee trust we have held that the activity of the assessee trust has to be treated as an activity in the nature of preservation of monuments of places or objects of artistic or historical interest, and therefore the proviso to Section.2(15) would not be attracted. Thus this CO of the assessee is disposed in favour of the assessee by granting benefit to the assessee U/s. 11 of the Act. 6. In the result, the appeal of Revenue is dismissed and the Cross objection of the assessee is allowed as indicated herein above. Order pronounced on 15th ..... X X X X Extracts X X X X X X X X Extracts X X X X
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