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Director of Income Tax, (Exemption) Versus Fellowship of Physically Handicapped

2015 (3) TMI 716 - BOMBAY HIGH COURT

Exemption under Section 11 denied - Assessee is running separate business activity as by way of renting out its properties to Vodaphone, Reliance Communication Ltd., Jyoti Publicity etc. for advertisements and cell phone towers and also renting out the hall for marriages, party etc. as incidental to its main activity and not maintain separate books of account in contravention of Section 11(4A) as per revenue - grievance of the Revenue is that letting out of property would not amount to income fr .....

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Tax (Appeals) is upheld by the impugned order. We find that as two Authorities under the Act have concurrently come to a finding of fact that the amounts received by the respondent-assessee on account of letting out of its property is income taxable under the head "income from house property". Thus, no occasion to apply Section 11A (4) of the Act as canvassed by the Revenue would not arise. In view of the concurrent findings of the fact arrived at by the Authorities which is not shown to be per .....

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ned order has been passed in respect of Assessment Year 2008-09. 2. The appellant - Revenue formulated the following questions of law for our consideration:- "A.) Whether on the facts and in the circumstances of the case and in law, the Tribunal was justified in confirming the order of the CIT (Appeals) and directing the Assessing Officer to allow exemption under Section 11 of the Act, without appreciation the fact that the assessee is running separate business activity as by way of renting .....

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d registration under section 12A of the Act by the Commissioner of Income Tax. Further the respondent - assessee also received grand-in-aid from the Government of Maharashtra to fulfill its charitable purpose of assisting physically handicapped persons. 3. The Assessing Officer was of the view that the respondent-assessee was commercially exploiting its property inasmuch as it had rented out its premises to Cell companies for the purposes of erection of cell towers as well as renting out hall fo .....

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d be appropriately taxed as 'Income from House Property' and not as 'Income from business' and allowed the assessee's appeal. 4. The Revenue carried the issue in appeal before the Tribunal. The Tribunal by the impugned order held that the income earned by letting out the property cannot be said to be business income. It also upheld the view of the CIT (Appeals) that rent income cannot be assessed as business income but has to be assessed as income from house property. The imp .....

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