Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2019 (7) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2019 (7) TMI 703 - HC - Income TaxExemptions u/s. 11 & 12 denied - activities of the assessee authority are covered by first and second proviso to section 2(15) - Whether entitled to exemption u/s 11 and 12 as per provisions of section 13(8)? - HELD THAT:- Appellate Tribunal has taken view and had ensured the activities of AUDA are at par with the activities of the Gujarat Housing Board. The view taken is that the activities of the assessee are covered under Section 2(15). The endeavour on the part of Ms. Bhatt, the learned senior standing counsel appearing for the Revenue is to bring the case within the proviso. The submission of Ms.Bhatt is that the Gujarat Housing Board might be constructing residential houses for a weaker section of the society or to put it in other words for backward class of the society but, ultimately, it earns business and earns profit out of it. In our opinion what is sought to be submitted by Ms.Bhatt seems to have been taken care of by the decision of this Court in GUJARAT HOUSING BOARD (GHB) [2018 (7) TMI 2012 - GUJARAT HIGH COURT] With respect to Gujarat Housing Board itself on the very same proposed question of law, a coordinate Bench of this Court dismissed the appeal relying on the decision of this Court in the matter of AUDA. It is brought to our notice that the issue is now pending before the Supreme Court. Question proposed cannot be termed as a substantial question of law involved in this Tax Appeal.
|