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2018 (5) TMI 2009 - AT - Income TaxExemption u/s 11 - activities of the assessee are charitable in nature or not? - main activity of the assessee society is to promote and protect the general mercantile and industrial interest of India acting as an arbitrator in settlement of disputes, organizing periodicals, seminars, meetings and symposia with Government - denying the exemption u/s.11 in terms of proviso to Section 2(15) the assessee’s activities are in the nature of trade and commerce or business - HELD THAT:- First of all in the Assessment Years 2006-07 & 2007-08, the Hon'ble High Court after detailed discussion had held that assessee is eligible for claim of exemption u/s.11, vide judgment and order dated 19th October, 2012 [2012 (11) TMI 429 - DELHI HIGH COURT]. Again for the Assessment Years 2008-09 and 2009-10, the Revenue’s appeal has been dismissed vide judgment and order [2016 (7) TMI 1581 - DELHI HIGH COURT]. In the Assessment Years 2008-09 and 2009-10, the Tribunal has taken into note the scope of proviso to Section 2(15) and following the judgment of Hon'ble Jurisdictional High Court in the case of India Trade Promotion Organization vs. DGIT (E) [2015 (1) TMI 928 - DELHI HIGH COURT] held that none of the activities of the assessee falls in the category as envisaged in the proviso. Thus, respectfully following the binding judicial precedent of Hon'ble Delhi High Court in the case of the assessee, we hold that assessee is entitled for claim of exemption u/s.11. Accordingly, the order of the ld. CIT (A) is affirmed. - Decided in favour of assessee.
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