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2019 (9) TMI 683 - AT - Income TaxExemption u/s 11 - charitable activity u/s 2(15) - exemption u/s 10(23C)(iv) - HELD THAT:- Section 2(15) of I.T. Act read with 3rd proviso to Section 143(3) of I.T. Act was invoked and exemption U/s 10(23C)(iv) was denied to the assessee. Further, out of assessee’s claim for depreciation was allowed by the AO and the remaining amount was disallowed on the ground that capital expenditure incurred on acquisition of fixed assets in the earlier years had been already allowed to the assessee as application of income. AO took the view that depreciation was to be allowed only on the value of assets acquired during the year under consideration. The assessee filed appeal before CIT(A) against the aforesaid Assessment Order. CIT(A) followed the order of his predecessor for Assessment Year 2011-12 and held in his appellate order dated 08.07.2016 that mischief of proviso of Section 2(15) of I.T. Act was not attracted on the facts on the assessee’s case. CIT(A) also based his decision on the order of Income Tax Appellate Tribunal (“ITAT”) for Assessment Year 2009-10 in assessee’s own case in appeal [2017 (10) TMI 1410 - ITAT DELHI] in which it was held by ITAT that the assessee was not engaged in any sort of commercial activity and all the activities were in furtherance of main objects of the assessee’s society, which remained charitable and further held that authorities below were not justified in deny the exemption of the assessee society. CIT(A) further noticed that the order of the AO was identical to the order of the AO for Assessment Year 2009-10. - Decided in favour of assessee.
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