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2020 (12) TMI 1302 - AT - Income TaxAssessment of trust - addition in respect of profit from business undertakings - setting off the loss incurred by the Trust from the profits of business undertakings - THAT:- Hon’ble Uttarakhand High Court in Assessee’s case for A.Y. 2009- 10 [2019 (2) TMI 1616 - UTTARAKHAND HIGH COURT]has held that the Assessing Officer was not justified in denying the assessee exemption under Section 11/12 of the Act which is confirmed by the Hon’ble Apex Court [2019 (8) TMI 535 - SC ORDER] Besides this, for A.Y. 2010-11, 2011-12, 2012-13 and 2013-14 as well the Tribunal has decided the identical issue in favour of the assessee. There is no change in facts in the present assessment year and no distinguishing facts were pointed out by the Ld. DR. Therefore, the CIT(A) rightly allowed the appeal of the assessee. There is no need to interfere with the findings of the CIT(A). Hence, appeal of the Revenue is dismissed.
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