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Commissioner of Income Tax, Central – I, Calcutta Versus M/s. Apeejay Medical Research & Welfare Association (P) Ltd.

2016 (3) TMI 689 - CALCUTTA HIGH COURT

Claim for exemption u/s. 10(22A) - whether the Association was eligible for exemption under section 10(22A) as a medical institution existing solely for philanthropic purposes? - Held that:- The matter is remanded back to the assessing officer for examining the tax effect, in the light of the Circular no.21 of 2015 dated 10th December, 2015 issued by CBDT. After hearing the submission of the assessee on this limited aspect of the matter the assessing officer shall examine whether the tax effect .....

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ning to the assessment year 1992- 93 by which the learned Tribunal dismissed the appeal preferred by the revenue agreeing with the views of the CIT that the funds were raised by the assessee for the philanthropic purposes. The facts and circumstances of the case appearing from the order of the assessing officer are as follows:- On scrutiny of the Income & Expenditure A/c, it is found that the assessee-company earned interest income to the tune of ₹ 33,93,899/- from its only source. Tot .....

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assessee. There was, however, no such agreements between the above- mentioned tea companies and the assessee to reimburse the expenses incurred them. In the circumstances the expenses which relate to the running of hospital in the tea gardens are disallowed. For the same reasons depreciation claimed on hospital complex is also disallowed. In an appeal preferred by the revenue the CIT(A) allowed the appeal relying on the judgement of the Income Tax Appellate Tribunal pertaining to the assessment .....

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tands accepted for assessment years 1989- 90 to 1991-92 vide order dated 31.3.95 of my predecessor-inoffice. I see no reason to disagree with the appellate findings involving the same issue, arising from identical facts and circumstances. Neither any fresh material or further arguments have been brought on record by the A.O. in negating the claim in so far as assessment year 1992-93 is concerned, I am accordingly, inclined to allow the appeal. As the appellant is to be treated as entitled to exe .....

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or the aforesaid years where the Tribunal confirmed the order of the CIT (Appeals) by which the exemption was allowed to the assessee. Considering those facts, in the assessment year 1988-89 the CIT (Appeals) allowed similar exemption and further held that primary object and final activities of the assessee company were within the purview of eligibility under section 10(22A) of the Act, The Tribunal following its earlier order for the assessment years 1986-87 & 1987-88, upheld the order the .....

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formulated:- Whether on the facts and in the circumstances of the case, the Income Tax Appellate Tribunal was correct in holding that the Association was eligible for exemption under section 10(22A) of the Income Tax Act, 1961 as a medical institution existing solely for philanthropic purposes? We have considered the following questions in great detail in our judgement delivered on the same day pertaining to the assessment year 1988-89. i) Whether on the facts and in the circumstances of the ca .....

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have been answered in the negative. No new facts and circumstances are involved in this case. In the relevant year the income arose out of interest as in the assessment year 1988-89. All the facts in the relevant year are the same as in the assessment year 1988-89. Therefore, we answer the question formulated above in the negative for the same reasons assigned by us in our judgement allowing the Income Tax Appeal No.32 of 2001 between the same parties. A question, however, has been raised by Mr. .....

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t, points out that the tax effect of the present appeal is less than ₹ 10 lakh and this case does not come within the exception as pointed out in CBDT Instruction No.3/11 dated 9th February, 2011. In view of the aforesaid fact, we find that this appeal has been filed by violating the instruction issued by the CBDT, which was binding upon the appellant in view of the provisions contained in Section 268A of the Income Tax Act, 1968. We, thus, dismiss this appeal on that ground alone. He has .....

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. Further, the interest under section 234B of ₹ 8,23,968/- mentioned in the challan approximates the interest chargeable under section 234B with reference to the correct amount of income tax of ₹ 16,72,075/- and is short by ₹ 17/- only. I say that if the income tax is taken at ₹ 17,96,619/- as mentioned in the challan, it gives a rate of 53.72% of the assessed income. The surcharge of ₹ 2,50,811/- mentioned in the challan is 13.96% of ₹ 17,96,619/-. If interes .....

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