9911796707
TMI Blog1980 (4) TMI 146X X X X Extracts X X X X X X X X Extracts X X X X ..... tentions, they are disposed of by this combined order for the sake of convenience. The assessee is an AOP, being an association of owners having power-looms. For the asst. yr. 1973-74 the assessee applied for exemption as a charitable trust under s. 12A(a) of the IT Act to the CIT on 20th March, 1974. The assessee claimed that as it had already applied for exemption, the return of income was filed ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eme Court in Indian Chamber of Commerce vs. CIT,(4) held that the assessee was not entitled to the exemption under s. 11 of the Act as claimed by it. He, therefore, brought to tax a sum of Rs. 56,956 for the year under appeal. 3. Being aggrieved, the assessee carried the matter in appeal before the AAC, who upheld the claim of the assessee for asst. yr. 1974-75, following the decision of the Sup ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... pheld the claim of the assessee that it was entitled to exemption under s. 11 of the Act. It was, thus, pointed out on behalf of the assessee that since the objects of the said assessee are in pari materia with those of the assessee in appeal, for the same reasons as recorded in the said order of the Tribunal, the assessee's claim under s. 11 must be upheld. The revenue on the other hand, contende ..... X X X X Extracts X X X X X X X X Extracts X X X X
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