TMI Blog2017 (2) TMI 1396X X X X Extracts X X X X X X X X Extracts X X X X ..... ilized for business. - Decided in favour of assessee - ITA No. 3422/Del/2015 - - - Dated:- 10-2-2017 - Shri H.S. Sidhu, JJ. Assessee By : Dr. Rakesh Gupta, Adv. Sh. Akhilesh Kumar, Adv. Department By : Sh. F.R. Meena, Sr. DR ORDER This appeal filed by the assessee is directed against the order passed by the CIT(A), Muzaffarnagar on 16.2.2015 in relation to the assessment year 2010-11 on the following grounds:- 1. Because, the order of learned lower authority is bad in law and against the facts and circumstances of the case and hence is unsustainable. 2. Because, the learned commissioner of income tax (appeals) grossly erred in upholding, that the 'hostel facility' of the school provided exclusively t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... is not allowed on the other hand despite considering the activity a 'separate business'. 6. Because, the learned lower authority further erred in not appreciating the fact that in any eventuality admittedly assessee has already utilized more than 85% of its income for 'charitable purposes' and so any surplus was also be exempt u/s 11-12. 7. Because, learned commissioner of income tax (appeals) grossly erred in confirming the disallowance of depreciation ₹ 89,38,507/- debited to P L a/c without properly appreciating the law on the issue and arguments put forward by the assessee including the one that where there are two views than the one which is favourable to assessee shall prevail. Therefore, it is prayed t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... A) who conf irmed the action of the AO and dismissed the appeal of the assessee vide his order dated 16.2.2015. 4. Now the assessee is aggrieved by the impugned order and fi le the present appeal before the Tribunal. 5. At the time of hearing, Ld. Counsel of the assessee stated that the lower authorities have wrongly observed that the hostel faci l ity of the school provided exclusively to students of the school is not an integral part of education u/s. 2(15) but is a separate business activity in terms of section 11(4A), by wrong placing rel iance on irrelevant material and f indings on the issue are perverse and against the settled law. He further stated that the lower authorities conf irmed the disal lowance of depreciation ͅ ..... X X X X Extracts X X X X X X X X Extracts X X X X
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