2016 (9) TMI 57

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..... xmi Gurung, Junior Standing Counsel For the Respondent : V. P. Gupta and Anunav Kumar JUDGMENT CM No. 11511 of 2016 1. Allowed, subject to all just exceptions. I. T. A. 211 of 2016 2. This appeal by the Revenue is against the order dated October 12, 2015 passed by the Income-tax Appellate Tribunal ("ITAT") in I. T. A. No. 5799/ Del/2011 for the assessment year ("AY") 2008-09. 3. The assess .....

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..... mises run on licence basis. 5. The question urged by the Revenue in this appeal is whether the earning of income from the above four streams would disentitle it to exemption in terms of section 11(4A) of the Act. 6. The Revenue does not dispute the above streams could be "incidental to the attainment of the objectives" of the institution. However, the Revenue states that "separate books of accou .....

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..... Assessing Officer accepted the assessee's case and allowed its claim for exemption. In particular, the Income- tax Appellate Tribunal has accepted the contention of the assessee that it maintained separate ledgers for each of the sources of income and thereby fulfilled the requirement of section 11(4A) of the Act. 9. Having heard the learned counsel for the parties, the court is of the view t .....

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