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TMI Blog2022 (2) TMI 36X X X X Extracts X X X X X X X X Extracts X X X X ..... the case for assessment years 2009-10 and 2010-11 [ 2018 (1) TMI 189 - ITAT DELHI] and held that no part of the function carried out by the assessee is in the nature of trade / business. The said order of the Tribunal has also been affirmed by the Hon ble Delhi High Court [ 2018 (5) TMI 1814 - DELHI HIGH COURT] and 2018 (9) TMI 1994 - DELHI HIGH COURT] respectively. Respectfully following the order of the Hon ble High Court, who has upheld the order of the Tribunal holding that the same has to be laid down by the Hon ble Delhi High Court in the case of M/s. GSI India Vs. Director General of Income Tax (Exemption) [ 2013 (10) TMI 19 - DELHI HIGH COURT] . Not only that again in the appeal for the assessment year 2011-12 passed by the Tr ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n the circumstances of the case and in law, the Ld. CIT(A) has erred in ignoring the fact that assessee was earning huge profits by providing data connectivity to its subscribers in lieu of consideration as per its objects and charity can nowhere be seen in the whole process. 3. At the outset, the ld. Counsel for the assessee submitted that these issues are squarely covered by the decision of the Tribunal in assessee s own case pertaining to the assessment years 2009-10 to assessment year 2015-16 and the appeal for the assessment year 2009-10 and 2010-11 passed by the Tribunal has also been confirmed by the Hon ble Delhi High Court. Therefore, these cases are squarely covered. 4. The ld. DR also admitted that the issues are square ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nt is covered by the proviso to amended definition contained in section 2(15) and its activities are not charitable and exemption under section 11 was denied. 6. Since exemption under section 11 was denied, voluntary contributions received were treated as income. Hence, addition made to earmarked funds amounting to ₹ 28,72,65,874/- was added to the income of the assessee. Entire surplus as per Income Expenditure account was held to be taxable. Only depreciation on assets purchased during the financial year 2013-14 was allowed since capital expenditure for earlier years had been allowed as application of income. Income was computed at ₹ 35,44,66,022/-. 7. The ld. CIT (Appeals) after incorporating the entire submissions of ..... X X X X Extracts X X X X X X X X Extracts X X X X
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