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TMI Blog2024 (7) TMI 1090X X X X Extracts X X X X X X X X Extracts X X X X ..... out any further discussion therefore, we deem it appropriate to dismiss the said I.T appeals as not maintainable in view of the Circulars referred above that are binding on the department in view of the judgment in S.R.M.B Diary Farming (P) Ltd. [ 2017 (11) TMI 1494 - SUPREME COURT] . For AY 2011-12 and 2012-13 No doubt, the said appeals involve a tax effect exceeding Rs. 1 crore - Additions to be made to the income of the Trust and since the more fundamental issue as regards the availability of exemption to the assessee Trust, consequent to its registration u/s 12AA of the Act has already been sustained - Since the issue of registration u/s 12AA of the Act, and the availability of exemption to the assessee-Trust, has already been answered ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... st and its satellite institutions on 31.10.2011, under Section 132 of the Act, the Department launched proceedings (i) for cancellation of the registration and consequent denial of exemption that was available to the Trust in terms of the Act, and (ii) for the purposes of making additions to the taxable income of the Trust for the various assessment years from 2006-07 to 2012-13. 3. In the appeals before us, we are concerned with the latter proceedings that were initiated by the Income Tax Department for sustaining the additions made to the taxable income of the Trust for the assessment years in question. It would appear that, based on material that was obtained during the search, additions were made to the income of the Trust for the vario ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ad been no application of the funds of the assessee-Trust for purposes unconnected with the objects of the Trust and that, the assessee had not violated any of the conditions mentioned in Section 13 of the Act for denial of the benefits under Section 11 of the Act, or for cancellation of its registration under Section 12AA of the Act. The Tribunal found, therefore, that the assessee was entitled to the benefit of the exemption envisaged for registered trusts under S. 11 of the IT Act It is significant that against the said order of the Tribunal that was in favour of the assessee herein, the revenue did not choose to file any appeal. The said order of the Tribunal has therefore become final and binding on the revenue. 6. We have chosen to hi ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ding effect or where common principles are involved in subsequent group of matters or a large number of matters. In the instant appeals, there is no cascading effect that arises, nor are there common principles involved in large number of matters for the caveat to be observed. 8. Accordingly, we have to see whether the monetary limit in any of these appeals is breached through the filing of these appeals. We find in this context that the tax effect in the appeals pertaining to assessment years 2006-07, 2007-08, 2008-09, 2009-10 and 2010-11 are well below the monetary limit of Rs. 1 crore specified in the circulars referred above. Without any further discussion therefore, we deem it appropriate to dismiss the said I.T appeals as not maintain ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... itional fees for the asst. year 2012-13 and the sworn statement of Shri. Shibu, Administrative officer and Executive Trustee? (ii) Whether on the facts and in the circumstances of the case, the Hon'ble ITAT was legally justified in holding that the assessing officer is to restrict the addition towards collection of additional fees (capitation fees) for the asst. year 2012-13 to the extent of seized material found during search, without appreciating the decisions of the Hon'ble Kerala High Court in the cases of Travancore Diagnostics P. Ltd. v. ACIT (390 ITR 167), CIT v. Hotel Meriya (332 ITR 537) and of the Hon'ble A.P. High Court in the case of Rajnik Co. v. ACIT (251 ITR 561)? iii) Whether, on the facts and circumstances of th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... i) Whether, on the facts and circumstances of the case, the Hon'ble Tribunal was right in law in placing reliance upon Board's Circular No. 286/2/2003-IT (Inv. II) dated 10.03.2003, in giving relief to the assessee on the collection of additional fees (capitation fees), when no confession relating to income has been obtained in the case on hand? 10. Since the issue of registration under Section 12AA of the Act, and the availability of exemption to the assessee-Trust, has already been answered in their favour by the order of the Tribunal dated 16.01.2018 supra, we are of the view that the aforesaid questions of law raised by the revenue in the appeals have to be answered against the revenue and in favour of the assessee. Accordingly, ..... X X X X Extracts X X X X X X X X Extracts X X X X
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