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2016 (2) TMI 735 - ITAT DELHI

2016 (2) TMI 735 - ITAT DELHI - TMI - Benefit of exemption u/s 11 and 12 - Held that:- As the activities carried out by the Assessee certainly amounts to charitable purpose, as it is being covered under the limb “education” to the definition of charitable purpose is contained in section 2(15) of the Act. Therefore, the Assessee has to be necessarily considered a genuine charitable organization eligible to claim exemption u/s 11 & 12 of the Act and the provisions of the first proviso to section 2 .....

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eal:- 1. "On the facts and in the circumstances of the case and in law, the Ld. CIT(A) has erred in excluding the development fees of ₹ 93,02,137/- out of the gross receipts as computed by the A.O. 3. "On the facts and in the circumstances of the case and in law, the Ld. CIT(A) has erred in allowing Date of Hearing 4.1.2016 Date of Pronouncement 18.1.2016 the benefit of exemption u/s 11 & 12 of the Act ignoring the fact that the society was involved in violating the Rules/gui .....

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e benefit of exemption u/s 11 & 12 ignoring the fact that the assessee society was imparting education on commercial principle with having profit motto. 5. "On the facts and in the circumstances of the case and in law, the Ld. CIT(A) has erred in allowing the claim of depreciation of ₹ 23,29,584/- to the assessee. 2. Brief facts of the case as recorded by the ld. Assessing Officer are as under:- 2.1. The assessee had filed its income declaring Nil on 29.9.2010. The return was proc .....

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rts and in general for imparting any useful knowledge, to construct, demolish, alter or rent any buildings which may be necessary for its objectives, to provide hotels and residence for students, for its members and for such persons as may work for it, to establish, organize, maintain and run, libraries, reading rooms, common rooms for the general use of members, students and the general public, etc. 2.2. Ld. Assessing Officer observed that the assessee is registered u/s 12A(a) of the Act vide o .....

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Act. He therefore denied the benefit of section 11 and 12 and made an addition of ₹ 93,02,137/- being the Development Fund received by the assessee. The ld.AO further made addition by disallowing the depreciation of ₹ 23,29,584 and held that the claim amounted to double deduction on account of the claim of capital expenditure as application of fund. 3. Aggrieved by the order of the ld. Assessing Officer, the assessee preferred an appeal before the ld. CIT(A). 3.1. The Ld. CIT(A) rely .....

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the activities of the assessee come under education within the definition of charitable purposes u/s 2(15) of the Act. 4. Aggrieved by the order of the ld. CIT(A), the department is in appeal before us. Ld. DR has placed his reliance on the order passed by the Assessing Officer. Ground no. 1 4. Ld. AR, at the outset, submitted that this ground stands covered by the order of this Tribunal for assessment year 2009- 10 in I.T.A. No. 152/Del/14 in the assessee s own case. He submitted that the Seni .....

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further submitted that exemption granted by the CIT/DIT(E) u/s 12AA of the Act has not yet been cancelled and that the assessee has and is still being considered as charitable society. Ld. AR has placed reliance upon the decision of this Tribunal for assessment year 2008-09 in assessee s own case in I.T.A. No. 4476/Del/2011 vide order dated 8.1.2014. 5. Ld. AR submitted that in this decision of this Tribunal in the assessee s own case, where it has been held that the assessee is entitled to col .....

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sdictional High Court and the consistent findings of this Tribunal in assessee s own case in the preceding years, dismiss this ground of appeal raised by the revenue. Ground No.5 7. This ground relates to the claim of deprecation amounting to ₹ 23,29,584/- to be treated as application of fund for the purposes of exemption. Ld. DR relied upon the order of ld. Assessing Officer. 7.1. On the contrary, ld. AR submits that this addition has been made for the first time in the year 2008-09 by ho .....

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.T.A. No. 4476/Del/2011. This Tribunal has deleted the addition made by the Assessing Officer on the claim of depreciation by relying upon the decision of Hon'ble Punjab & Haryana High Court in the case of Tiny Tots Education Society in ITA No. 93/2010. It is further brought to our notice that aggrieved by this deletion, the Revenue had preferred an appeal before the Hon'ble Jurisdictional High Court in I.T.A. No. 424/2014, wherein the Hon'ble High Court had upheld the decision o .....

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