Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2022 (5) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2022 (5) TMI 1568 - HC - Income TaxExemption u/s 11 - Claim denied as activities are commercial in nature and cannot be held to be charitable in view of the proviso (ii) to section 2(15) - ITAT allowed deduction - ITAT allowing the claim of accumulated funds u/s 11 (2) in absence of benefit of exemption u/s 11 and 10(23) - HELD THAT:- Appellant fairly admits that the first question of law is covered by the decision of this Court [2018 (3) TMI 1601 - DELHI HIGH COURT] in favour of the assessee. Also admits that the second question of law is a consequential question of law and accordingly, the same stands covered by the aforesaid judgment. Application of income on the account of depreciation - The third proposed question of law is also covered by the decision passed in Rajasthan & Gujarati Charitable Foundation Poona [2017 (12) TMI 1067 - SUPREME COURT].
|