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TMI Blog2024 (10) TMI 488X X X X Extracts X X X X X X X X Extracts X X X X ..... 63 of the Act, this Court [ 2017 (5) TMI 1468 - GUJARAT HIGH COURT] had already decided the issue in favour of the assessee holding that the assessee-Society constituted under the Gujarat Town Planning and Urban Development Act, 1976 would be providing general public utility services within the meaning of Section 2 (15) of the Act. The Hon ble Supreme Court has also upheld the view of this Court [ 2022 (10) TMI 948 - SUPREME COURT] . It was therefore, rightly held by the Tribunal that the PCIT could not have initiated the proceedings u/s 263 of the Act as the Assessment Order cannot be said to be erroneous or prejudicial to the interest of Revenue. No substantial question of law would arise from the impugned order of the Tribunal. - HONOU ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ear, the decision of Hon'ble Jurisdictional High Court will not apply during the year under consideration? 3.1. The respondent-assessee filed return of income for Assessment Year 2017-18 declaring total income of Rs. NIL . Thereafter, the case was selected for scrutiny under CASS and assessment was finalised under Section 143 (3) of the Act assessing the income at Rs. 94,91,81,330/-. 3.2. The Principal Commissioner of Income Tax (PCIT) observed that though the claim of the deduction of the assessee has been withdrawn by the Assessing Officer in light of provisions of Section 13 (8) of the Act by stating that the decision of the High Court of Gujarat is not being considered in the instant case till the issue is finally settled by the Hon ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eedings under Section 263 of the Act were initiated had already decided the issue in favour of the assessee by holding that the assessee is a charitable organisation within the meaning of Section 2 (15) of the Act in case of the Ahmedabad Urban Development Authority versus Assistant Commissioner of Income Tax (ACIT) reported in 83 Taxmann.com 78 (Gujarat). It was contended that it was held in the said decision that the assessee-Society constituted under Gujarat Town Planning and Urban Development Act, 1976 to execute the works in connection with supply of water, disposal of sewarage and provision of other services and amenities could be said to be providing general public utility services within the meaning of Section 2 (15) of the Act. It ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... l Gujarat High Court in the aforesaid case.Accordingly, in view of the above, we are of the considered view that the order passed bl the assessing officer cannot be held to be erroneous and prejudicial to the interest of Revenue. Accordingly, the 263 order passed by the Id. Principal CIT is dismissed. 4. Considering such findings of facts recorded by the Tribunal to the effect that when the PCIT initiated the proceedings under Section 263 of the Act, this Court had already decided the issue in favour of the assessee holding that the assessee-Society constituted under the Gujarat Town Planning and Urban Development Act, 1976 would be providing general public utility services within the meaning of Section 2 (15) of the Act. The Hon ble Suprem ..... X X X X Extracts X X X X X X X X Extracts X X X X
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