TMI Blog2011 (9) TMI 1061X X X X Extracts X X X X X X X X Extracts X X X X ..... eover, the assessee has been also granted the registration u/s.12AA that has not been cancelled. - ITA No. 5150/Mum/2010 - - - Dated:- 30-9-2011 - Pramiod Kumar (Accountant Member) And R. S. Padvekar (Judicial Member) For the Petitioner : Goli Sriniwas Rao For the Respondent : M. Subramaniam ORDER R. S. Padvekar (Judicial Member) In this appeal the revenue has challenged the impugned order of the Ld. CIT (A)-1, Mumbai dated 26.02.2010 for the A.Y. 2007-08. The revenue has taken the following grounds in the appeal:- 1. On the facts and in the circumstances of the case, and in law, the Ld. Commissioner of income-tax (Appeals) erred in directing the AO to allow exemption u/s.11 of the IT Act, 1961 ignoring the e ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to the assessee and accordingly, the assessee claimed the exemption of the entire income u/s.11 of the Act. In the preceding years i.e. A.Ys. 2003-04, 2004-05 and 2006-07, the exemption was denied to the assessee but on appeal before Ld. CIT(A), assessee succeeded and when the matter reached before the Tribunal by way of appeal by the Department, challenging the respective impugned orders of the Ld. CIT (A), the same were dismissed on the reason of want of the COD approval. The A.O., therefore, proceeded to determine claim of the assessee in A.Y. 2007-08 on merit and denied the exemption u/s.11 and accordingly determined the taxable income. The assessee challenged the assessment order before the Ld. CIT (A) and the Ld. CIT (A) following the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ication, or retention, of the income from such activity. 6. In the case of Gujarat Maritime Boards (supra) while interpreting the expression Charitable purpose in section 2(15) of the I.T. Act, the Hon ble Supreme Court has held as under:- 14. We have perused number of decisions of this Court which have interpreted the words, in section 2(15), namely, any other object of generally public utility . From the said decisions it emerges that the said expression is of the widest connotation. The word general in the said expression means pertaining to a whole class. Therefore, advancement of any object of benefit to the public or a section of the public as distinguished from benefit to an individual or a group of individuals would b ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... oviding residential settlements to the slum dwellers without any profit motive. Moreover, primary purpose and the predominant object are to promote the welfare of the general public by providing better residential accommodations to slum dwellers and economically deprived class of society and said purpose would be charitable in nature only. Hence, in our humble opinion assessee s case is squarely covered by the principles laid down by the Hon ble Supreme Court of India in the case of Gujarat Maritime Boards (supra). 7. In our opinion, the activities of the SRA, present assesse are charitable in nature and hence, the assessee is entitled for exemption u/s.11 of the I.T. Act. Moreover, the assessee has been also granted the registration u/s ..... X X X X Extracts X X X X X X X X Extracts X X X X
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