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TMI Blog2015 (10) TMI 1012X X X X Extracts X X X X X X X X Extracts X X X X ..... Respondent : Mr. Denesh Goyal, Advocate AJAY KUMAR MITTAL, J. 1. Delay in refiling the appeal is condoned. 2. This appeal has been preferred by the assessee under Section 260A of the Income Tax Act, 1961 (in short "the Act") against the order dated 9.12.2013 (Annexure A-6) passed by the Income Tax Appellate Tribunal, Amritsar Bench, Amritsar (hereinafter referred to as "the Tribunal") in ITA No ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 3? 3. The facts, in short, necessary for adjudication of the instant appeal as narrated therein are that the appellant-Trust was constituted under the Punjab Town Improvement Trust Act, 1922 (for brevity, "the 1922 Act"). Income of the Trust was exempt under section 10(20A) of the Act upto assessment year 2002-03. However, the said Section was omitted by Finance Act, 2002 w.e.f 2003. The Trust wa ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ation was cancelled in view of the amended provision of Section 2(15) of the Act w.e.f. 1.4.2009 and holding that the Trust is engaged in the business, trade and commerce. Feeling aggrieved, the Trust filed an appeal before the Tribunal who vide order dated 09.12.2013 (Annexure A-6) upheld the order of the CIT and dismissed the appeal. Hence, the present appeal. 4. We have heard learned counsel f ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d the matter to the Tribunal to decide the same afresh keeping in view the proviso to Section 2(15) of the Act inserted w.e.f. April 1, 2009 with reference to the provisions of the 1922 Act after affording an opportunity of hearing to the parties in accordance with law. 7. In view of the above, the order dated 9.12.2013 (Annexure A-6) passed by the Tribunal is set aside and the matter is remanded ..... X X X X Extracts X X X X X X X X Extracts X X X X
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