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2018 (9) TMI 1694 - AT - Income TaxDenying the exemption u/s 11 - charitable activity - business activity - generation of surplus - Held that:- The assessee’s major activities during the impugned AY were confined to conducting Award Functions / programs only. The only plea in support of the same as raised by Ld. AR is the assertion that the said activities were incidental to carrying out the main objectives of the assessee Trust and secondly, there was no profit motive in carrying out the same. In support, certain judicial pronouncements have been cited before us. TAR has also raised an alternative plea that the amount of ₹ 78.85 Lacs as written-off by way of credit to Profit & Loss Account had already been offered to tax in earlier years and therefore, the same is exclude while computing the surplus for impugned AY. In our opinion, these submissions require proper appreciation of factual matrix which has not been done by Ld. AO particularly the submissions that the activities being carried out by the assessee were incidental to carrying out the objectives on the basis of which registration was granted to the assessee. Keeping in view the aforesaid facts and circumstances, keeping all issues open, we deem it fit to restore the matter back to the file of Ld. AO for re-adjudication of the same with a direction to the assessee to substantiate its claim as argued before us
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