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2017 (11) TMI 2012 - AT - Income TaxExemption u/s 11 - BMW car purchased in the name of the trustee whereby the funds of the trust were diverted and used for the benefit of excluded person as covered within the provision of Section 13( 1 )(c)(ii) & Section 13(2)(g) r.w.s. 13(3)(cc) - HELD THAT:- Tribunal has made an elaborate discussion with respect to purchase of BMW car and similar observation was made by the Revenue for Assessment Year 2009-10 [2016 (2) TMI 77 - ITAT MUMBAI] also and finally, the appeal of the assessee was allowed directing the DIT(E) that the registration granted u/s 12AA of the Act cannot be denied to the assessee. It is also noted that the order of the Tribunal was affirmed by Hon'ble High Court of Bombay vide order [2017 (7) TMI 1053 - BOMBAY HIGH COURT] No contrary facts/decision were brought to our notice by either side and more specifically the Revenue, therefore, considering the decision of the coordinate Bench of this Tribunal and following the decision from Hon'ble jurisdictional High Court, we find no infirmity in the order of the Ld. Commissioner of Income Tax (Appeal), resultantly, the appeal of the Revenue is dismissed.
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