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TMI Blog2019 (11) TMI 924X X X X Extracts X X X X X X X X Extracts X X X X ..... ming deduction/exemption under s.11 of the Act. On similar facts, the in Ahmedabad Urban Development Authority vs. ACIT [ 2017 (5) TMI 1468 - GUJARAT HIGH COURT] held that general public utility services and amenities provided by such authorities would fall within the meaning of charitable purposes as contemplated under s.2(15) of the Act and consequently, the assessee is entitled to claim exemption of income under s.11 of the Act. The issue has already been adjudicated in favour of the assessee in other assessment years by the co-ordinate bench as noted above. We thus see no error in the conclusion drawn by the CIT(A) in favour of the assessee. Once the activity is considered to be charitable in nature, the assessee would be entitled to all consequential benefits flowing to income generated from such activity including the benefits provided under s.11(2) of the Act and 11(1)(a) of the Act towards accumulation of profits without any demur. - I.T.A. Nos. 2425 to 2428/Ahd/2017 - - - Dated:- 15-11-2019 - Shri Pradip Kumar Kedia, Accountant Member And Smt. Madhumita Roy, Judicial Member For the Appellant : Shri Alok Singh, CIT.D.R. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... first and second proviso to sec.2(15)of the Act. 2. The Ld CIT(A) has erred in the law and on facts in allowing the benefit of exemptions u/s.11 without considering the fact that the assessee is involved in widespread commercial activities in nature of business and the activity of the assessee is covered under first and second proviso to sec.2(15) of the Act. 3. The Ld. CIT(A) has erred in the law and on facts in deleting the addition of ₹ 64,99,534/- made on account of receipt of infrastructure fund considering the capital receipts would be part of balance sheet and not income of the assessee. 4. The Ld CIT(A) has erred in the law and on facts in deleting the addition of ₹ 1,53,00,676/- considering that a capital expenditure by a person need not be a capital receipt of the person receiving that amount which the assessee has received for the discharge of its objects. 5. The Ld CIT(A) has erred in the law and on facts in allowing the accumulation of ₹ 79,11,578/- u/s.11(2) and accumulation @15% of ₹ 59,04,481/- u/s11(1)(a) of the Act without appreciating the fact that once the provis ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... t area for the preparation of development plans or Town Planning Schemes To levy and collect such fees for scrutiny of documents submitted to the appropriate authority for permission for development as may be prescribed by the Regulations. To execute works in connection with supply of water, disposal of sewage and provision of other services and amenities To levy and collect such fees for execution of works and for provision of other services and amenities as may be prescribed by regulation To perform such other functions as are supplemental, incidental or consequential to the activities as mentioned hereinabove. 5.4 The AO while framing the assessment held that the nature of activity of authority is towards advancement of objects of general public utility and the same is in the nature of trade, commerce or business. As a sequel to such observations, the AO held that the activity of the assessee does not fall within the sweep of definition of charitable purpose as defined under s.2(15) of the Act in view of the proviso to Section 2(15) of the Act. The AO accordingly denied the benefit of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... o deny the exemption claimed by the assesses, claim under Section 11 of the Act? 11. While considering the aforesaid questions, the relevant provisions of the Gujarat Town Planning Act, under which, the Assessee has been constituted as Urban Development Authority and powers and functions of the Assesses as an Urban Development Authority are required to be considered, so as to appreciate whether the activities of the Assessed being Urban Development Authority can be said to be in the nature of trade, commerce or business ? The relevant provisions of the Gujarat Town Planning Act, under which, the Assesses AUDA has been constituted as Urban Development Authority are as under: Section 2(viii): Development , with all its grammatical variations and cognate expressions, means the carrying out of any building, engineering, mining, or other operations in, or over, or under land or the making of any material change in any building or land or in the use of any building or land, and includes layout and subdivision of any land; Section 2(xxviii): Urban development authority means an urban development authority constituted under section ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... y that Government, exofficio; (iv) the Presidents of the district panchayats functioning in the urban development area, or, as the case may be, part thereof, exofficio: (v) the Chief Town planner or his representative, exofficio: (vi) the Chief Engineer or Engineers (Public Health) of the local authority or authorities functioning in the urban development area or his or their nominee or nominees, exofficio: 5[(via) the Municipal Commissioner of the Municipal Corporation, if any, functioning in the urban development area, exofficio:] (vii) a member secretary to be appointed by the State Government who shall also be designated as the Chief Executive Authority of the Urban Development Authority. (5) The provisions of subsections (5) to (12) of section 5 shall apply in relation to an urban development authority as they apply in relation to an area development authority, with the modification that references to an area development authority in the said subsection shall be construed as references to an urban development authority. Section 23. Powers And Function Of Urban Development Authority: (1) [The powers and functions of] an urban development au ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rce, the appropriate authority may make one or more town planning schemes for the development area or any part thereof, regard being had to the proposals in the final development plan,if any. (2) A town planning scheme may be made in accordance with the provisions of this Act in respect of any land which is(i) In the course of development; 1 [(ii) likely to be used for residential or commercial or industrial or for building purposes; or] (iii) Already built upon. Explanation: For the purpose of this subsection the expression land likely to be used for building purposes shall include any land likely to be used as, or for the purpose of providing, open spaces, roads, streets, parks, pleasure or recreation grounds, parking spaces or for the purpose of executing any work upon or under the land incidental to 3 town planning scheme, whether in the nature of a building work or not. (3) A town planning scheme may make provision for any of the following matters, namely:(a) The laying out or relaying out of land, either vacant or already built upon; (b) The filling up or reclamation of low lying, swampy or unhealthy areas, or levelling up of land; (c) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f lands in any area in specified periods, parkings space and loading and unloading space for any building and the sizes or locations of projections and advertisement signs; (I) the suspension, so far as may be necessary, for the proper carrying out of the scheme, of any rule, byelaw, regulation, notification or order mode or issued under any Act of the State Legislature or any of the Acts which the State Legislature is competent to amend: Provided that any suspension under this clause shall cease to operate in the event of the State Government refusing to sanction the preliminary scheme, or in the event of the withdrawal of the scheme under section 66, or on the coming into force of the final scheme; (m) such other matters not inconsistent with the objects of this Act as may be prescribed. Section 91: Fund Of The Appropriate Authority : (1) An appropriate authority shall have and maintain its own fund to which shall be credited(a) All moneys received by the authority by way of grants, loans, 1 [advances, fees, development charges or otherwise:} (b) All moneys derived from its undertakings, projections and other sources; fc) Such amount of contr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... g Act, it can be gathered that Assessee has been constituted as Urban Development Authority under the provisions of Section 22 of the Town Planning Act. The purpose and object of constitution of the Urban Development Authority is proper development or redevelopment of urban area. Even Urban Development Authority consists of (i) a Chairman to be appointed by the State Government; (ii) such persons, not exceeding [four in number] who are members of the local authority or authorities functioning in the urban development area, as may be nominated by the State Government; (iii) Three officials of the State Government, to be nominated by that Government, exofficio; (iv) the Presidents of the district panchayats functioning in the urban development area, or, as the case may be, part thereof, exofficio; (v) the Chief Town planner or his representative, exofficio; (vi) the Chief Engineer or Engineers (Public Health) of the local authority or authorities functioning in the urban development area or his or their nominee or nominees, exofficio, 5[(via) the Municipal Commissioner of the Municipal Corporation, if any, functioning in the urban development area, exofficio;] (vii) a member secretar ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... any allegation of favoritism and nepotism, the plots are sold by public auction it is required to be noted the entire amount realized by the assessee being Urban Development Authority either by selling plots or by recovery of some fees / charges, Urban Authority is required to use only for the purpose of development in the Urban Development Area and not for any other purpose. The learned Tribunal has observed and held that as the assessee is selling the plots, to the extent of 15% of total area, by public auction and gets maximum amount, it amounts to profiteering and therefore, the activities of the -Assesses can be said to be in the nature of business. However, while holding so, learned Tribunal has not properly appreciated the object and purpose of permitting the Urban Development Authority to sale the plots, maximum to the extent of 15% of the total area i.e. to meet with the expenditure for providing them infrastructural facilities like gardens, roads, lighting, water supply, drainage system etc. The learned Tribunal has also not properly appreciated the reasons for selling the plot by holding public auction i.e.; (1) to avoid any further allegation of favoritism and nepotism ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... trade is the exchange of goods for goods or goods for money . 12.4. In the case of State of Andhra Pradesh vs. Abdul Bakhi and Bros reported in 1964(5) STC 644 (SC) while considering the word business , the Hon'ble Supreme Court has held that the word business was of indefinite import and in a taxing statute, it is used in sense of an occupation, or profession which occupies time, attention or labour of a person, and is clearly associated with the object of marking profit . 12.5 In the case of Institute of Chartered Accountants of India (supra) while considering the whether activities of Indian Trade promotion organization can be said to be in the nature of business , despite the fact that the said organization was collecting rent for providing the space at trade, fair and exhibitions and though was receiving income by way of sale of tickets and income from tickets and sale in Pragati Maidan etc., after considering the various decisions of the Hon'ble Supreme Court as well as decisions of the other High Courts, it is held that activities of the said organization cannot be considered as business . While holding so, Delhi High Cou ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... viso to Section 2(15) of the Act can be understood from the Budget Speech of the Finance Minister while introducing the Finance Bill 2008. The relevant extract to the Speech is as under: Charitable purpose includes relief of the poor, education, medical relief and any other object of general public utility. These activities are tax exempt, as they should be. However, some entities carrying on regular trade, commerce or business or providing services in relation to any trade, commerce or business and earning incomes have sought to claim that their purposes would also fall under charitable purpose. Obviously, this was not the intention of Parliament and, hence, I propose to amend the law to exclude the aforesaid cases. Genuine charitable organizations will not in any way be affected.' The expressions business, trade or commerce as used in the first proviso must, thus, be interpreted restrictively and where the dominant object of an organisation is charitable any incidental activity for furtherance of the object would not fall within the expressions business, trade or commerce. 69. In the case of Addl. Commissioner of Income Tan v. Surat Art S ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ng profit To regard an activity as business there must be a course of dealings, either actually continued or contemplated to be continued with a profit motive, and not for sport or pleasure. (Underlining added) 72. There is nothing on record to indicate the assertion of the petitioner that its activities are not fuelled by profit motive is incorrect. Absence of profit motive, though not conclusive, docs indicate that the petitioner is not carrying on any business 12.7. Identical question came to be considered by the Delhi High Court, in the case of Bureau of India Standard vs. Director General of Income Tax (Exemptions) reported in (2013) 212 Taxman 210 (Delhi). In the said decision, the Delhi High Court was considering whether the activities of the Bureau of Indian Standards (supra) in granting licenses and trading certificates and charging amounted to carrying on business, trade or commerce and while considering the said question, it is observed as under: In these circumstances, rendering any service in relation to trade, commerce or business cannot, in the opinion of the Court, receive such a wide construction as to en ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ities. In the case of M/s G.S. 1 India (Supra), in para 21, 22 and 27, the Delhi High Court has observed and held as under 21. ... As observed above, legal terms, trade, commerce or business in Section 2(15), mean activity undertaken with a view to make or earn profit. Profit motive is determinative and. a critical factor to discern whether an activity is business, trade or commerce. The court further held:- 22. Business activity has an important pervading element of self interest, though fair dealing should and can be present, whilst charity or charitable activity is antithesis of activity undertaken with profit motive or activity undertaken on sound or recognized business principles. Charity is driven by altruism and desire to serve others, though element of self preservation may be present For charity, benevolence should be omnipresent and demonstrable but it is not equivalent to self sacrifice and abnegation. The antiquated definition of charity, which entails giving and receiving nothing in return is outdated. A mandatory feature would be; charitable activity should be devoid of selfishness or illiberal spirit. Enrichme ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... iple of equality enshrined in Article 14 of the Constitution India. In order to save the Constitutional validity of the proviso, the same would have to be read down and interpreted in the context of Section 10(23C)(iv) because, in our view, the context requires such an interpretation. The correct interpretation of the proviso to Section 2(15) of the said Act would be that it carves out an exception from the charitable purposes of advancement of any other object of general public utility and that exception is limited to activities in the nature of trade, commerce or business or any activity of rendering any service in relation to any trade, commerce or business for a cess or fee or any other consideration. In both the activities, in the nature of trade, commerce or business or the activity of rendering any service in relation to any trade, commerce or business, the dominant and the prime objective has to be seen. If the dominant and prime objective of the WP(C) 1872/13 Page 54 of 55 institution, which claims to have been established for charitable purposes, is profit making, whether its activities are directly in the nature of trade, commerce or business or indirectly in the renderi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... is earned / received by the assesses even while selling the plots (to the extent of 15% of the total area covered under the Town Planning Scheme) is required to be used only for the purpose to carry out the object and purpose of Town Planning Act and to meet with expenditure while providing general utility service to the public such as electricity, road, drainage, water etc. and even the entire control is with State Government and even accounts are also subjected to audit and there is no element of profiteering at all, the activities of the assesses cannot be said to be in the nature of trade, commerce and business and therefore, proviso to Section 2(15)of the Act shall not be applicable so far as assessee is concerned and therefore, the assesses is entitled to exemption under Section 11 of the Income Tax Act. Therefore, the question no.1 is to be held in favour of the assessee and against the revenue. 15. Now, so far as another question which is posed for the consideration of this Court i.e. whether while collecting the cess or fees, activities of the assessee can be said to be rendering any services in relation to any trade, commerce or business is concerned, ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... roviso are that the entity should be involved in carrying on the activities of any trade, commerce or business or any activities of rendering service in relation to any trade, commerce or business, for a cess or fee or any other consideration. Such statutory amendment was explained by the Finance Ministers speech in the Parliament. Relevant portion of which reads as under: I once again assure the House that genuine charitable organizations will not in any way be affected. The CBDT will, following the usual practice, issue an explanatory circular containing guidelines for determining whether any entity is carrying on any activity in the nature of trade, commerce or business or any activity of rendering any service in relation to any trade, commerce or business. Whether the purpose is a charitable purpose will depend on the totality of the facts of the case. Ordinarily, Chambers of Commerce and similar organizations rendering services to their members would not be affected by the amendment and their activities would continue to be regarded us advancement of any other object of general public utility. 7. In consonance with such ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ritable purpose. In such a case, the object of general public utility will be only a mask or a device to hide the true purpose which is trade, commerce or business or the rendering of any service in relation to trade, commerce or business. Each case would, therefore, be decided on its own facts and no generalization is possible. Assessees, who claim that their object is charitable purpose within the meaning of section 2(15), would be well advised to eschew any activity which is in the nature of trade, commerce or business or the rendering of any service in relation to any trade, commerce or business. 8. What thus emerges from the statutory provisions, as explained in the speech of Finance Minister and the CBDT Circular, is that the activity of a trust would be excluded from the term charitable purpose if it is engaged in any activity in the nature of trade, commerce or business or renders any service in relation to trade, commerce or business for a cess, fee and/or any other consideration. It is not aimed at excluding the genuine charitable trusts of general public utility but is aimed at excluding activities in the nature of trade, commerce or business which are ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... velopment Act. The appellant is a registered u/s 12A of the IT Act. Therefore as held by Hon'ble Gujarat H.C. in decision quoted above, the appellant cannot be considered to covered by the proviso to section 2(15) of the Act. Thus AO cannot withdraw the claim of exemption by invoking proviso to section 2(15) r w.s. 13(8) of the Act. The corollary is that the appellant cannot be assessed u/s 28 to 44 of the Act. 5.4 Although hon'ble High Court of Gujarat has denied applicability of provisions of proviso to section 2(15) r.w.s. 13(8) to the appellant, the AO needs to be careful while computing the income of the appellant. There are issues with regard to maintenance of accounts and the appellant has treated the various grants received by it. There are issues with regard (a) to claim of accumulation@ 15% u/s 11(1)(a) of the Act; (b) to claim u/s 11(1)(d) of the act; (c) to claim of correct rate of depreciation; (d) to claim of income receipts being reflected in the balance sheet; (e) to claim of application of income from project specific grants, (f) to claim of capital expenses as application of income etc. As certain grounds of appeal pertain to these issue ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n Vanik Jain Sangh 151 Taxman 270 Hon'ble Gujarat High Court has held that contribution received by the assessee trust towards construction of wadi for caste people would form part of corpus of trust and therefore would not be treated as income of assessee trust. It further held that on the plain reading of sec.12, any voluntary contribution made with a specific direction would not be deemed to be income derived from property held under trust wholly for charitable or religious purpose. In the case of DIT vs Sri Ramakrishna Seva Ashram 18 Taxman.com 37 (Kar.) it was held that donation for specific project shall be treated as corpus donation and the 85% application condition shall not apply. It was held that the word 'corpus' is used in the context of the Act. Therefore, it any voluntary contribution is made with a specific direction, it shall be treated as the capital of the trust for carrying on its charitable or religious activities, then such an income falls u/s.11(1)(d) and is not liable to tax. In many other cases various High Courts have held that any receipt of capital nature cannot be treated as income and hence it was outside the purview of sec 12. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... atment of the grant and the accounting treatment of the expenditure to which the grant relates. 5.4 It is generally considered appropriate that accounting for government grant should be based on the nature of the relevant grant. Grants which have the characteristics similar to those of promoters' contribution should be treated as part of shareholders' funds. Income approach may be more appropriate in the case of other grants. 5.5 It is fundamental to the 'income approach' that government grants be recognised in the profit and loss statement on a systematic and rational basis over the periods necessary to match them with the related costs. Income recognition of government grants on a receipts basis is not in accordance with the accrual accounting assumption (see Accounting Standard (AS) 1, Disclosure of Accounting Policies). 5.6 In most cases, the periods over which an enterprise recognises the costs or expenses related to a government grant are readily ascertain able and thus grants in recognition of specific expenses are taken to income in the same period as the relevant expenses. 6. Furthe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eciation on those assets is charged. Grants related to non-depreciable assets should be credited to capital reserve under this method. However, if a grant related to a nondepreciable asset requires the fulfillment of certain obligations, the grant should be credited to income over the same period over which the cost of meeting such obligations is charged to income. The deferred income balance should be separately disclosed in the financial statements. 15. Government grants related to revenue should be recognised on a systematic basis in the profit and loss statement over the periods necessary to match them with the related costs which they are intended to compensate. Such grants should either be shown separately under 'other income' or deducted in reporting the related expense 8. Thus, it is seen from the AS-12 as quoted above that as per AS-12 the grants received with specific direction especially for specified fixed assets which is applicable to the appellant can be accounted for in two ways in the books of the appellant. Where the grant leads to creation of fixed assets equals the whole or virtually the whole of the cost of the asse ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ccumulation @ 15% u/s 11(1)(a) of the Act on such specific grants. The assets creation made out of these grants would be reflected in the balance sheet and the appellant (b) cannot claim capital expenditure out of these grants as the money applied towards its objects as application of income. Finally, the appellant (c) cannot claim depreciation on fixed assets created out of grants given for specific purpose, as application of income. (iii) (a) During the appellate proceedings it is seen from the Balance Sheet and Income and Expenditure Account of the appellant that certain receipts have been taken by the appellant directly to the Balance Sheet, The AG. Audit had been raising audit objection for treating them as revenue receipts and hence the said receipts have been considered as capital receipts. According to these audit objections for e.g. receipt from 'Betterment Charges' are required to be shown as liabilities in Balance sheet because they should be adjusted against the net amount to be paid by the owners. Similarly as per the Form Q under GTPUD Rules, 1979, 'Development Charges' are required to be shown in the Balance Sheet under the head of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cy. Accordingly the rate of depreciation would apply and not the rates of depreciation as per section 32 of the Act. (v) A.O. is directed to calculate the expenditure incurred or amount towards the objects of the appellant. The amount applied would also include the capital expenditure as per the direction given above (Reliance placed on the judgment of Gujarat High Court in the case of Satyavijay Patel Hindu Dharmashala Trust vs CIT 86 ITR 683, Hon'ble Supreme Court in the case of SRM CTM Tirupanni Trust, 230 ITR 636, Hon'ble Allahabad High Court in the case of CIT vs Moolchand Sharbati Devi Hospital Trust 190 Taxman 338). (vi) After the calculation of expenses or amount applied for the objects of the appellant, A.O. will allow the accumulation u/s 11(1)(a)of the Act to the extent of 15% of income. If the excess of income over the expenditure is less than 15% of the income, then A.O. shall allow accumulation to the extent of 15% u/s.11(1)(a) of the Act. (For example: If appellant earns ₹ 100 and applies ₹ 90 then only ₹ 10 would be allowed to be accumulated u/s 11(1)(a) of the Act.) (vii) If the appe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ve paras and the directions have been given at para-5.3 to para-9 above. Accordingly, Ground of appeal nos.2 3 are the grounds which are directly covered by the judgment of Hon'ble Gujarat High Court in the case of ADDA dated 2/5/2017. Therefore, all these grounds of appeal are hereby allowed. 10.1 Vide ground of appeal No 4, the appellant has raised the issue of considering receipt of Infrastructure Fund as income by the A O. It is already held that the appellant is an exempt entity. I have discussed the issue of receipt of exempt entity under various categories at para 9(i), (ii) and (iii) above. The treatment for receipts from generic grants, project specific grants and operational and recurring income has been discussed at these paras and A.O has been given specific directions for computing the income of appellant. The A.O is directed to verify and recomputed the income accordingly. This ground is allowed subject to these directions. 10.2 Vide ground of appeal Nos.5 8, the appellant has raised the issue of denial of expenditure incurred on addition to fixed assets and on capital expenditure by the A.O. At para-9(i), 9(ii) and 9(v) h ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... activity of the assessee was found to be covered by the main provision of Section 2(15) of the Act in the matters concerning subsequent assessment years and it has held by the co-ordinate bench in assessee s own case in ITA No.102/Rjt/2016 concerning AY 2012-13 that the activities carried out by the assessee does not fall within the scope of proviso to Section 2(15) of the Act. It was further pointed out on behalf of the assessee that the ratio of the decision in AY 2012-13 was applied by the Tribunal in AY 2013-14 in ITA No. 435/Ahd/2018 concerning AY 2013-14 as well. The learned AR accordingly submitted that the grievance of the Revenue as taken in Ground Nos. 1 2 is not justified. It was further submitted that Ground No.5 is consequential once the activity of the assessee is considered to be charitable in nature for availing benefit of exemption under s.11 of the Act. As regards Ground Nos. 3 4 of the Revenue s appeal, the learned AR for the assessee submitted that it is incorrect to say that the CIT(A) has deleted the additions per se but has directed the AO to make suitable verifications and ascertain the issues in the light of facts that may emerge. The learned AR thus s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Ground No.5 of the Revenue s appeal is also bereft of any merit. 10.4 Ground No.5 of the Revenue s appeal is accordingly dismissed. 10.5 As pointed out on behalf of the assessee, Ground Nos. 3 4 has been addressed by the CIT(A) and certain directions have been given to the AO in this regard. We have pursued the direction of the CIT(A) and we find the approach adopted to be just and reasonable. The Revenue has failed to demonstrate the grievance arising from such directions of CIT(A) as raised in Ground Nos. 3 4 of its appeal. We are thus inclined to uphold the findings of the CIT(A) in this regard. 10.6 Ground Nos. 4 5 of the Revenue s appeal is dismissed. 11. In the result, the appeal filed by the Revenue is dismissed. 12. The issues involved in ITA Nos.2426 to 2428/Ahd/2017 are identical. In parity with the conclusion drawn in ITA No. 2425/Ahd/2017 concerning AY 2009-10, appeal of the Revenue in AY 2010-11, 2011-12 2014-15 are also dismissed. 13. In the combined result, all appeals filed by the Revenue are dismissed. This Order pronounced in Open Court on ..... X X X X Extracts X X X X X X X X Extracts X X X X
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