TaxTMI 
TaxTMI 
2014 (8) TMI 944
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....unakaran, Advocate ORDER Challa Nagendra Prasad (Judicial Member).- This appeal is filed by the Revenue against the order of the Commissioner of Income-tax (Appeals)-VII, Chennai dated January 29, 2014 for the assessment year 2009-10. The only grievance of the Revenue in its appeal is that the Commissioner of Income-tax (Appeals) erred in holding that the assessee is eligible for exemption und....
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....iety members instead of the public at large. The Assessing Officer was also of the view that most of the benefits like medical aid, marriage aid, old age pension, let out property, etc. are enjoyed by the society members. Therefore, the Assessing Officer concluded that benefit had ensured to the interested persons as defined under section 13(3), the transactions held to be in violation of section ....
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....g Officer was correct in invoking the provisions of section 13(1)(c) of the Act and denied exemption to the assessee under section 11 of the Act as the assessee granted benefits to the interested persons as defined under section 13(3) of the Act. 4. Counsel for the assessee, reiterating the submissions made before the lower authorities, submits that the assessee is a society registered under the ....
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.... the Act as they are paying adequate rent. Counsel for the assessee supports the order of the Commissioner of Income-tax (Appeals) in allowing exemption under section 11 of the Act. 5. Heard both sides. Perused orders of the lower authorities. The Assessing Officer in the course of assessment proceedings noticed that the assessee- society has given benefits to the executive members and their rela....