9911796707
TMI Blog2024 (12) TMI 1392X X X X Extracts X X X X X X X X Extracts X X X X ..... from the Government and generating income in the form of consent fee etc HELD THAT:- AO completed assessment and assessed the entire income over expenditure to determine the net taxable income. However, this order was set aside in appeal vide order dated 05.11.2014 and affirmed by the Appellate Authority, constraining the Revenue to file these appeals. Significantly, we find that the factual matrix has not been considered or discussed by the Tribunal/Authorities below. Rather, perusal of order passed by the Appellate Authority demonstrates that there is no reasoning assigned as to on what basis it arrived at the conclusion mentioned in the order. Remand the matters back to the Commissioner of Income Tax for taking a fresh decision, after co ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hus liable to be set aside, especially since it is contrary to the judgment passed by this Hon ble Court in CWP No. 2066/2009. iii) Whether the govt. Corporation performing regulator functions is entitled to exemption u/s 10 11 of the I.T. Act even though it is not existing for charitable purposes. 3. We have heard learned counsel for the parties and have also gone through the material available on record. 4. At the outset, it needs to be noticed that identical issue came up for consideration before this Court in ITA No.2 of 2010 titled as Commissioner of Income Tax vs. H.P. State Environment Protection Pollution Control Board, decided on 24.10.2017, wherein, the appellant like in the present case, had relied upon following two decisions of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... de order dated 06.01.2014. However, this order was set aside in appeal vide order dated 05.11.2014 and affirmed by the Appellate Authority, constraining the Revenue to file these appeals. 9. Significantly, we find that the factual matrix has not been considered or discussed by the Tribunal/Authorities below. Rather, perusal of order passed by the Appellate Authority demonstrates that there is no reasoning assigned as to on what basis it arrived at the conclusion mentioned in the order. 10. As such, we deem it appropriate to remand the matters back to the Commissioner of Income Tax for taking a fresh decision, after considering the rival contentions of the parties. Needless to add, Commissioner of Income Tax shall discuss the factual matrix ..... X X X X Extracts X X X X X X X X Extracts X X X X
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