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TMI Blog2018 (5) TMI 1881X X X X Extracts X X X X X X X X Extracts X X X X ..... reover, it is the admitted case of the Revenue that the assessee trust is only publishing and selling text book and reading material which is being supplied to the students only. So, merely receiving fee and charges from the universities and selling text books to the students do not amount to entering into trade, commerce and business activities, particularly when the assessee trust is being run on the basis of the grants by the Government of India and on the basis of fee being collected from universities and its members. We are of the considered view that the ld. CIT (A) has passed well-reasoned order in the light of the settled proposition of law in the case cited as Delhi Music Society vs. DGIT [ 2011 (12) TMI 124 - DELHI HIGH C ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n 12AA of the Income-tax Act, 1961 (for short the Act ) on 28.01.1987 and has also been enjoying the benefit of section 80G of the Act vide order dated 06.04.2010. Assessee s main object is to promote education by representing about 550 recognized universities and has been recognized as a nodal agency for recognition of the universities by Ministry of Human Resources Development (MHRD) and also works to give input to the MHRD, University Grants Commission (UGC) and Planning Commission in formulating the education policy of the Government. AO invoking the provisions contained under Proviso to section 2(15) of the Act assessed the total income at ₹ 1,19,18,600/- by making disallowance of depreciation of ₹ 10,69,942/- for the FY ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hich are for the purpose of promoting education. 7. Ld. AR for the assessee contended that since the assessee trust is not involved in any trade, commerce and business, the proviso to section 2 (15) of the Act is not attracted. AO has invoked the proviso to section 2 (15) of the Act only on the ground that the assessee is into publication and sale of books. However, when we examine the chart depicting the nature of receipt in income expenditure account in the preceding assessment years accepted by the Revenue authorities, it is apparently clear that as against the income from fee and subscription and other misc. income, the income from publication is meager one. For facility of reference, chart showing the nature of receipt ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 8. When we examine the order passed by the ld. CIT (A) in the light of the fact that continuously in the preceding years from 2005-06 to 2008-09, income from publication and sale of goods has been accepted and exemption u/s 11 12 of the Act has been allowed, no new fact has been brought on record by the AO to depart from rule of consistency as has been laid down by the Hon ble Apex Court in Radhaswami Satsang Vs CIT (1992), 193 ITR 321 (S.C.) case. 9. Moreover when predominant activities of the assessee trust are promotion of education sports activities and its major source of income is grant from the Ministry of HRD and Ministry of Youth Affairs and Sports, membership fees from the universities etc., n ..... X X X X Extracts X X X X X X X X Extracts X X X X
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