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2014 (8) TMI 944 - AT - Income TaxExemption under section 11 - Revenue contends that Commissioner of Income-tax (Appeals) failed to appreciate that the benefit has been extended to interested persons as defined under section 13(3) of the Act as the transactions were held to be in violation of section 13(1)(c) of the Act and exemption under section 11 was denied. - Held that:- The Assessing Officer in the course of assessment proceedings noticed that the assessee- society has given benefits to the executive members and their relatives by way of granting medical aid, marriage aid, old age pension, letting out property, etc. The Assessing Officer did not give any details, i.e., who are the beneficiaries relating to the executive members and who are the executive members getting benefits from the assessee-society. No other details have been furnished by the Assessing Officer in the assessment order except for stating that the assessee-society is giving benefit to the executive members of the society which is a bald statement without any details. The assessee also submits that relatives of executive members are paying market rent to the assessee-society for the use of let out property. Taking the totality of the facts and circumstances of the case into consideration, we are of the considered view that this issue has to be examined afresh in detail by the Assessing Officer before denying deduction under section 11 of the Act. Thus, we restore the matter to the file of the Assessing Officer with a direction to examine the whole issue in detail and decide in accordance with law after providing adequate opportunity to the assessee. - Decided in favour of Revenue.
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