9911796707
TMI Blog2018 (3) TMI 148X X X X Extracts X X X X X X X X Extracts X X X X ..... the Act vide order of the competent authority dated 15.6.2009 and the Assessing Officer framed the assessment merely denying the benefit of exemption to the assessee and its u/s 11(1)(a) of the Act, we find no reason to interfere in the findings of the Commissioner of Income Tax (Appeals) and accordingly uphold the same. - Decided against revenue. - ITA No. 07/Ind/2017 - - - Dated:- 28-2-2018 - Shri Kul Bharat, Hon ble Judicial Member And Shri Manish Borad, Hon ble Accountant Member For The Appellant : Shri Rajiv Jain For The Respondent : Shri Shri S.S. Solanki ORDER PER SHRI MANISH BORAD, AM This appeal of the revenue relating to the assessment year 2012-13 is directed against the order of the learned Commi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... .2013. The learned Assessing Officer during the course of assessment proceedings did not treat the society as a charitable organisation and denied benefit of exemption for net income of ₹ 18,56,244/- claimed by the assessee u/s 11(1)(a) of the Act. The Assessing Officer also made proportionate disallowance of expenditure of ₹ 44,29,178/- and accordingly assessed the income at ₹ 62,85,420/-. 4. Being aggrieved, the assessee preferred first appeal before the Commissioner of Income Tax (Appeals) and succeeded. Now the Revenue is in appeal before the Tribunal. 5. Before us, the learned counsel for the assessee submitted that the CBDT vide Circular No. 07/2010 dated 27.10.2010 clarified that any approval issued on or afte ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... or life until it is withdrawn. Thus, it continued to be effective for the assessment years beyond 2011-12. 3. That, in view of above the certificate continued to be valid for the assessment year 2012-13 and for onwards assessment years the assessee is, therefore, entitled to avail the exemption under Section 10 (23C) (vi) of Income Act during the Assessment Year 2012-13. 4. That, due to inadvertence during the validity of the exemption certificate dated 15-06-2009, the assessee applied for a fresh certificate of exemption for the assessment year 2012-13. However the same was rejected by Hon ble CCIT Indore on various grounds. It is submitted that after Circular No. 07 dated 27/10/2010, the assessee was not required to apply for ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... urned by the assessee shall be the assessed income. 10. Learned CIT (A) vide order dated 3.10.2016 deleted the addition of ₹ 62,85,422/- placing reliance on order of Hon ble M.P.High Court. 11. Interestingly the same AO who has filed the appeal before your honour has passed the order u/s 143(3) dated 29.12.2016 for the Asst Year 2014-15 and has assessed the Total Income at Nil figure. While passing the order he himself has relied on the approval u/s 10(23C)(vi) granted on 03.06.2009 by Hon ble Chief Commissioner. 6. On the other hand, the learned Senior DR relied upon the order of the Assessing Officer. 7. We have heard the rival submissions and perused the material available on record. We find that the CBDT vide ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
