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2015 (10) TMI 739 - AT - Income TaxExemption u/s 11 - Charitable activity u/s 2(15) - Addition on account of income from Samudaik Bhawan after allowing expenses - whether net income rightly assessed by invoking proviso to section 2(15) - CIT(A) deleted the addition - Held that:- In the light of ratio laid down in the case of India Trade Promotion Organization vs Director General of Income Tax(Exemptions) (2015 (1) TMI 928 - DELHI HIGH COURT ), in the present case, we note that the use of Samudaik Bhawan and Fitness Centre and receipts of charges/fees therefrom cannot be held as an activity in the nature of trade, commerce or business or rendering of any service in relation to trade, commerce or business and hence the action of the AO was not in accordance with the provisions of the Act which was rightly dismissed by the CIT(A). On the basis of foregoing discussion we are unable to see any infirmity, perversity or any other valid reason to interfere with the conclusion of the CIT(A) on these issues. Therefore, we are inclined to hold that the CIT(A) granted relief for the assessee on justified reasoning and cogent basis and we uphold the same. - Decided against revenue.
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