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2014 (5) TMI 328 - HC - Income TaxAllowability of exemption u/s 10(23C)(iiiad) of the Act Trust not solely for charitable purpose Held that:- The Tribunal was of the view that there may be certain dormant objects which have never been pursued in reality by the assessee and the mere existence in a Memorandum constituting the assessee would not be sufficient to decline an exemption - it has never been the contention of the revenue either before the CIT(A) or before the Tribunal that the assessee had carried on any activity other than education - The AO relied on the prospectus of the assessee which made a reference to the business carried on by a Private Limited Company in the same "group" as the assessee - The observations which are extracted in the order of the AO are from the order passed by the CIT-II, Agra on 23 August 2011 rejecting the request of the assessee for registration u/s 12AA - the assessee is a trust and not a Private Limited Company - The trust does not carry on any other business save and except conducting education - the entitlement of the assessee to the exemption u/s 10(23C) was dealt with by the CIT(A) there was no reason or justification to hold that the CIT(A) ought to have remitted the proceedings before the AO no substantial question of law arises for consideration Decided against Revenue.
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