2023 (8) TMI 227

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..... - HELD THAT:- ITAT allowed the benefit of exemption on ground that, GS1 India is in fact, involved in advancement of general public utility, its services are for the benefit of trade and business, from which they receive significantly high receipts. In view of the Judgement of the Apex Court in the matter of Ahmedabad Urban Development Authority [ 2022 (10) TMI 948 - SUPREME COURT] , the impu .....

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..... on behalf of the respondent/assessee, says that he does not oppose the prayer made in the application. 3. Accordingly, the application is disposed of. ITA 391/2023 4. This appeal concerns Assessment Year (AY) 2013-14. 5. Via this appeal, the appellant/revenue seeks to assail the order dated 06.08.2021 passed by the Income Tax Appellate Tribunal [in short, Tribunal ]. 6. Mr Sanc .....

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..... r the benefit of trade and business, from which they receive significantly high receipts. In the circumstances, its claim for exemption cannot succeed having regard to amended Section 2(15). However, the Court does not rule out any future claim made and being independently assessed, if GS1 is able to satisfy that what it provides to its customers is charged on cost-basis with at the most, a nomin .....

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