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2015 (9) TMI 1736 - AT - Income TaxExemption u/s 11 - club is not a charitable organization within the meaning of section 2(15) - CIT-A held that assessee is a Charitable Institution and its income has to be computed u/s 11 to 13 -Whether assessee performs a charitable purposes within the meaning of section 2(15) ? - HELD THAT:- Issue is covered by the decision of Hon’ble Jurisdictional High Court in the assessee’s own case [2012 (4) TMI 214 - BOMBAY HIGH COURT]. Further the co-ordinate bench of Tribunal has also followed the said decision in order to decide an identical issue in favour of the assessee in assessment years 2007-08, 2009-10 [2015 (3) TMI 1419 - ITAT MUMBAI] 2008-09 [2014 (11) TMI 379 - ITAT MUMBAI]. We also notice that it is not the case of the AO that the assessee is hit by the proviso to sec. 2(15) of the Act. Hence, we do not find any infirmity in the order of ld. CIT(A) with regard to the first issue. Claim of the assessee for set off and carry forward of deficit of earlier years - CIT(A) has followed the decision rendered by the Hon’ble Jurisdictional High Court in the case of CIT Vs. Institute of Banking Personnel Selection [2003 (7) TMI 52 - BOMBAY HIGH COURT]. Hence, we do not find any reason to interfere with the order passed by the ld. CIT(A) on this issue also.
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