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2009 (12) TMI 14 - HC - Income TaxDeletion of additions - A.O. made the various additions, which were upheld by the first appellate authority. However, the Tribunal vide its impugned orders has observed that these entities were created under U.P. Krishi Utpadan Mandi Adhiniyam, 1964 and they are subject to provision of the Act and control of the Government. Finally, Tribunal treated these assessees as "Charitable Institutions" and deleted the addition made by the A.O. – held that - these institutions were accepted by this court as charitable institution for the assessment year 2003-04 and subsequent assessment years including the assessment years under consideration. Once, these assesses are declared "Charitable Institutions", their income is exempted from Income Tax. When income is exempted then there is no justification to make additions and the same are likely to be deleted.
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