9911796707
TMI Blog2015 (7) TMI 652X X X X Extracts X X X X X X X X Extracts X X X X ..... grounds in its appeal, and they are concised herein below for adjudication:-- 1. The Ld. CIT (A) erred by allowing assessee's appeal by holding that the assessee is entitled for exemption U/s.11A of the Act, although the assessee's activities were in the nature of "advancement of general public utility" being printing and sale of books, magazines, pictures, calendars, diaries and novelties wherein the second proviso to Section-2(15) of the Act is attracted. 2. The Ld. CIT (A) erred by allowing the claim of the assessee of depreciation amounting to Rs. 35,447/-. 2.2. Cross Objections The assessee has raised two grounds in support of the order of the Ld. CIT (A), however the crux of the issue is that Ld. CIT (A) erred by holding that the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e institutions (VK) which has been the forefront service to humanity for the past five decades, 2. The major activities of the parent trust VK was to maintain and upkeep Vivekananda Rock Memorial at Kanyakumari, propagate teachings and thoughts of Swami Vivekananda, provide value based education by running schools and educational institutions, provide medical relief to the poor, conduct regular yoga camps, to conduct research etc. 3. The assessee also placed reliance in the case of Oxford University Press Vs. CIT in 115 Taxman 69 (SC), Secondary Board of Education Vs. ITO in 86 ITR 408(Orissa). 4. However the Ld. Assessing Officer disregarding the objects of the assessee's parent trust 'VK' and only taking into consideration of the asses ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... l interest or advancement of any other general public utility'. The objects of the assessee's trust are only in support of the assessee's parent trust. Therefore, the scope of the assessee's trust cannot go outside the ambit of the objects of the parent trust but in parity with the assessee's parent Trust. Hence all the activities of the assessee's trust which are associated with the main objects of the assessee's Parent trust has to be recognized in consonant with the assessee's Parent Trust "VK" viz., 'education', 'relief to the poor', 'medical relief', 'preservation of monuments of places or objects of artistic or historical interest' or 'advancement of any other general public utility' and thereafter if the proviso of Section-2(15) of t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ng Officer for fresh consideration. Cross Objection:- 5.2 Ground No. 1 - Ld. CIT (A) erred by holding that the activities of the assessee trust are not 'education' but in the nature of "advancement of general public utility". In the ground No.1 of the Revenue, we have categorically held that the activities of the assessee trust which is associated with the activity of the parent trust has to be treated in parity with activity of the assessee's parent trust and accordingly in the case of the assessee trust we have held that the activity of the assessee trust has to be treated as an activity in the nature of 'preservation of monuments of places or objects of artistic or historical interest, and therefore the proviso to Section.2(15) would ..... X X X X Extracts X X X X X X X X Extracts X X X X
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