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2016 (6) TMI 851 - MADRAS HIGH COURT

2016 (6) TMI 851 - MADRAS HIGH COURT - TMI - Grant of absolute stay on the recovery proceedings pending disposal - whether the exercise of discretion on the part of the first respondent is proper and does the impugned order call for interference? - whether the petitioner is entitled for the grant of exemption under Section 10(21) of the Income Tax Act? - Held that:- It is true that this Court is not considering the correctness of the Assessment Order dated 31.03.2015. Therefore, this Court refra .....

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t, when this Court entertained the writ petition, has passed a speaking order on 23.06.2015, granting an order of interim stay. - This Court is of the view that the recovery proceedings shall remain stayed till the appeals are heard and disposed of by the second respondent. - W. P. No. 17949 of 2015, M. P. No. 1 of 2015 - Dated:- 14-6-2016 - T. S. Sivagnanam, J. For the Petitioner : Mr. Dr. Anitha Sumanth For the Respondent : Mr. J. Narayanaswamy ORDER Heard Dr.Anita Sumanth, learned counsel .....

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he order of assessment dated 31.03.2015 for the Assessment Year 2012-13 was not granted, but a condition has been imposed by the first respondent that the petitioner has to pay 50% of the demand immediately on receipt of the impugned communication. 3. After elaborately hearing the parties and carefully perusing the materials on record, this Court is of the view that the only issue which needs to be considered is as to whether the exercise of discretion on the part of the first respondent is prop .....

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ed for exemption under Section 10(21) of the Act. At this stage it would be useful to refer to one such order passed by the Income Tax Appellate Tribunal dated 26.05.2006 for the Assessment Years 1997-98: The denial of exemption by the Assessing Officer is based on the fact that the Assessee is classified as an Institution. It is the case of the Department that the Assessee-society is classified as an insitution and not as an Association and as per the provisions of Section 10(21) of the Act, ex .....

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society from its inception till date. In view of the these facts and circumstances of the case and respectfully following the Tribunal's decision cited supra, we hold that the Assessee is entitled to exemption under Section 10(21) of the Act as the Assessee society is engaged in research work in agriculture related activities. 9. In the result, the appeal of the Assessee is allowed. Similar orders have been passed for the other two years as well. The petitioner had placed these orders for th .....

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pendency of such appeal. Therefore left with no other option, the counsel for the petitioner addressed a letter dated 08.06.2015 enclosing a letter of the petitioner dated 04.06.2015 requesting for details with regard to the said appeals said to have been filed by the Department. However, it appears that the petitioner has not been favoured with any reply till date. Be that as it may, the first respondent, while considering an application under Section 220(2) of the Act, has to consider as to wh .....

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