9911796707
TMI Blog2002 (11) TMI 44X X X X Extracts X X X X X X X X Extracts X X X X ..... atisfied by the assessee. In the absence of a finding as to whether the assessee-trust can be treated as an institution we will not be in a position to decide as to whether the assessee trust is entitled to get the benefit of exemption under section 11 in the light of sub-section (4A) of the Act. Since there is no such finding we are of the view that the matter must be remitted to the assessing authority - - - - - Dated:- 20-11-2002 - Judge(s) : G. SIVARAJAN., K. BALAKRISHNAN NAIR. JUDGMENT The judgment of the court was delivered by G. SIVARAJAN J.-The matter arises under the Income-tax Act, 1961 (for short "the Act"). This is an appeal filed by the Income-tax Department against the order of the Income-tax Appellate Tribunal, Co ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f the Act. Senior counsel also relied on the decision of the Supreme Court in Asst. CIT v. Thanthi Trust [2001] 247 ITR 785. Senior counsel further submitted that in view of this decision, the decision of this court in Dharmodayam Co.'s case [1997] 225 ITR 686, relied on by the Tribunal also is no longer good law. We have also heard the learned counsel for the respondent who sought to sustain the order of the Tribunal. We have perused the judgment of the Supreme Court in Thanthi Trust's case [2001] 247 ITR 785. The Supreme Court considered the question of applicability of the provisions of sub-section (4A) of section 11 as follows: "Sub-section (1)(a) of section 11 says that income derived from property held under trust only for charita ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ncome of its newspaper." The above observations of the apex court indicate that for an assessee to fall within the provisions of section 11(4A), clause (b) it must be an institution. None of the authorities including the Tribunal had considered the question as to whether the assessee-trust is an institution so as to fall within the ambit of section 11(4A)(b) of the Act. All the authorities including the Tribunal proceeded on the assumption that a trust, irrespective of being an institution, will be entitled to exemption provided the other conditions stipulated in clause (b) are satisfied. It is in that context the Tribunal had relied on the decision of this court in Dharmodayam Co.'s case [1997] 225 ITR 686 and decided the matter in favou ..... X X X X Extracts X X X X X X X X Extracts X X X X
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