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TMI Blog2013 (10) TMI 1374X X X X Extracts X X X X X X X X Extracts X X X X ..... te discussion of issues and facts and circumstances of the case by the AO". 2. The appellant prays that the order of CIT(A)I, Mumbai be set aside and that of the AO be restored. 3. The appellant craves leave to amend or alter any ground or add a new ground which may be necessary. 2. Briefly stated the facts of the case, as observed by the AO in the assessment order are that, the assessee Slum Rehabilitation Authority, primarily known as SRA is a local Authority created by the Government of Maharashtra by enacting SRA Act. Being the local authority in terms of SRA Act as well as within the meaning of then existing Section 10(20) and 10(20A) of the Income Tax Act, 1961, (the Act), it enjoyed the blanket exemption under the Income Tax Act u ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s not accepted the appellate order passed in favour of the assessee, denied the exemption under section 11 of the Act for the impugned assessment year and accordingly determined the taxable income at Rs. 83,98,10,894/- vide order dated 22.12.2011 passed under section 143(3). 3. On appeal, the CIT(A) following the order of the coordinate Bench of the Tribunal for the assessment year 2003-04 and the decision of the Hon'ble Supreme Court in CIT vs Gujarat Maritime Board, reported in, 295 ITR 561 (SC) and in ACIT vs Surat City Gymkhana (2008) as reported in, 300 ITR 214 (SC) directed the AO to Slum Rehabilitation Authority. allow the exemption under section 11A of the Act to the assessee for the assessment year in question. 4. Being aggrieved ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... o promote the welfare of the general public by providing better residential accommodations to slum dwellers and economically deprived class of society and said purpose would be charitable in nature only. Hence, in our humble opinion assessee's case is squarely covered by the principles laid down by the Hon'ble Supreme Court of India in the case of Gujarat Maritime Boards (supra). 7. In our opinion, the activities of the SRA, present assessee are charitable in nature and hence, the assessee is entitled for exemption under section. 11 of the IT Act. Moreover, the assessee has been also granted the registration under section. 12AA that has not been cancelled. Therefore, in our opinion, in the light of our above discussion no interference is c ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... income to tax. In appeal, CIT(A) following the decision of the Apex Court in the matter of CIT V/s Gujarat Maritime Board reported in [2007] 295 ITR 561 (SC) allowed the respondent-assessee's appeal. 4. On further appeal by the revenue, the Tribunal by the impugned order held that the respondent-assessee was established for providing residential settlement to slum dewellers without any profit motives. The respondent-assessee had no profit motive and the primary purpose was to promote the welfare of the general public by providing accommodation to the economically weaker sections of the Society. In these circumstances, the Tribunal held that the purpose and object of the respondent-assessee was charitable in nature. The Tribunal followed th ..... X X X X Extracts X X X X X X X X Extracts X X X X
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