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2019 (7) TMI 931 - AT - Income TaxExemption u/s. 11 (1) - assessee has shown receipts from Sponsorship Income Sale of Liquor, Income from Corporate Boxes, Sale of Tickets and Advertising/Contractual Receipts which are purely commercial in nature - HELD THAT:- Coordinate Bench of the Tribunal in AYs 2009-10 & 2010-11 [2015 (1) TMI 608 - ITAT DELHI] and [2018 (9) TMI 1311 - ITAT DELHI] has addressed exactly similar kinds of objections raised by the revenue before us and after dealing with each and every issue Tribunal has come to conclusion that the assessee is not carrying out any business activities and none of its receipts can be termed as an activity in the nature of 'trade, commerce and business'. Once such a finding of fact has been given on similar set of facts, then we do not find any reason to deviate from such a finding in assessee’s own case, therefore, following the aforesaid decision, we find no illegality or perversity in the impugned order passed by the CIT (A) extending benefit of sections 11 & 12, hence findings returned by the CIT (A) in the impugned order are upheld. Consequently, the appeal filed by the Revenue is hereby dismissed.
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