9911796707
TMI Blog2015 (7) TMI 1115X X X X Extracts X X X X X X X X Extracts X X X X ..... ing Officer has to reconsider the issue afresh. It is made clear that the first proviso to section 2(15) of the Act would be applicable from assessment year 2010-11, therefore, in view of the changing scenario, the eligibility of the assessee has to be examined by the Assessing Officer afresh from assessment year commencing from 2010-11. We are not expressing any opinion with regard to exemption for assessment year 2010-11. Suffice to say that subject to fulfillment of conditions of section1 11,12 & 13 of the Act, the assessee is eligible for exemption for assessment year 2009-10. Accordingly, the orders of the lower authorities are set aside and the entire issue is remitted back to the file of the Assessing Officer to reconsider the is ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... service to the trade, commerce, or business, the assessee is eligible for exemption u/s 11 of the Act. 3. The ld. Representative has also placed his reliance on the judgment of the Hon'ble Delhi High Court in India Trade Promotion Organization vs Director General of Income-tax (Exemptions) [2015] 53 taxmann.com 404. The ld. Representative has also placed his reliance on the statement made by the Hon'ble Finance Minister on the floor of the Parliament while moving Finance Bill, 2008. 4. On the contrary, Shri A.V. Sreekanth, ld. Departmental Representative submitted that the assessee is providing service to the Tamil Film Producers and collecting money in the name of fees. Referring to first proviso to section 2(15),the ld. D ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the assessee is eligible for exemption u/s 11 subject to fulfillment of further conditions as laid down in sections 11,12 and 13 of the Act. Since the lower authorities have not considered the conditions laid down in sections 11, 12 13 of the Act, this Tribunal is of the considered opinion that the Assessing Officer has to reconsider the issue afresh. It is made clear that the first proviso to section 2(15) of the Act would be applicable from assessment year 2010-11, therefore, in view of the changing scenario, the eligibility of the assessee has to be examined by the Assessing Officer afresh from assessment year commencing from 2010-11. We are not expressing any opinion with regard to exemption for assessment year 2010-11. Suffice to sa ..... X X X X Extracts X X X X X X X X Extracts X X X X
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