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2020 (3) TMI 428 - AT - Income TaxExemption u/s 11 - charitable activity u/s 2(15) - to promote the handloom sector. - organizing exhibitions in different parts of the country for display and sale of handloom fabrics/ cloth manufactured by handloom weavers and handloom society. - Whether activities carried out by the assessee which resulted in the profits/ surplus are commercial in nature? - HELD THAT:- Since the facts of the case are same as in assessment year 2010-11, respectfully following the order of the ld. CIT(A)-36 for assessment year 2010-11, it is held that the assessee cannot be said to be involved in carrying on any business, trade or commerce and the Assessing Officer is directed to allow the benefit of section 11 with consequential benefits and the Tribunal vide its order [2019 (3) TMI 1738 - ITAT DELHI] has also upheld the order of the Ld. CIT(A) by holding that AO has not appreciated the activities and objective of the society properly and therefore he is not justified in holding that provision of section 2(15) will be attracted in the case of the assessee. In view of above, we do not find any infirmity in the order of the Ld. CIT(A), hence, uphold the same by respectfully following the Tribunal’s order above and reject the grounds raised by the Revenue.
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