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2019 (4) TMI 361

l has been confirmed by the Hon’ble Allahabad High Court. The AO granted exemption u/s 11 to the assessee in AY 2010-11, vide order dated 16.11.2017 u/s 148/147. Merely because SLP of the Department is pending before Hon’ble Supreme Court is no ground to deny exemption to assessee u/s 11. - AO shall have to verify the condition of Section 11 of the Act before passing the assessment order afresh and shall have to grant exemption u/s 11 of the Act because of the orders passed by the Tribunal granting registration u/s 12AA of the Act in favour of the assessee. We, accordingly, set aside the orders of the authorities below and restore the matter in issue to the file of AO with direction to grant exemption to the assessee u/s 11 of the Act .....

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also requires reconsideration in view of the fact that assessee is entitled for exemption u/s 11 of the Act - Appeal of assessee is allowed for statistical purposes. - ITA No. 4290/Del/2014, ITA No. 4291/Del/2014, ITA No. 5103/Del/2016 - 3-4-2019 - Shri Bhavnesh Saini, Judicial Member And Shri Prashant Maharishi, Accountant Member For the Assessee : Dr. Rakesh Gupta, Adv., Sh. Somil Aggarwal, Adv. For the Revenue : Smt. Naina Soin Kapil, Sr. DR ORDER PER SHRI BHAVNESH SAINI, J.M. All the appeals by assessee are directed against different orders of Ld.CIT(Appeals)-Meerut dated 28.03.2014 for AYs 2009- 10 and 2010-11, Ld. CIT(Appeals)-Ghaziabad dated 22.06.2016 for AY 2012-13. 2. We have heard Ld. Representatives of both the parties and perus .....

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Act. The AO, accordingly, assessed the total income at ₹ 1.33 crores. 5. The assessee challenged the addition before Ld. CIT(A) who has also on the same reasoning that no registration have been granted to the assessee u/s 12AA of the Act confirmed the order of the AO and dismissed the appeal of assessee. 6. After considering the rival submissions, we are of the view that the matter requires reconsideration at the level of the AO. Ld. Counsel for assessee pointed out from the findings of the Ld.CIT(A) in AY 2012-13 that assessee pleaded before Ld.CIT(A) that appeals of the assessee has been allowed by ITAT granted registration to the assessee u/s 12AA of the Act and that departmental appeal has been dismissed by the Allahabad High Cour .....

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passing the assessment order afresh and shall have to grant exemption u/s 11 of the Act because of the orders passed by the Tribunal granting registration u/s 12AA of the Act in favour of the assessee. We, accordingly, set aside the orders of the authorities below and restore the matter in issue to the file of AO with direction to grant exemption to the assessee u/s 11 of the Act after satisfying the conditions of the same as per law by giving reasonable sufficient opportunity of being heard to the assessee. 7. In the result, appeal of the assessee is allowed for statistical purposes. ITA No. 4291/Del/2014 (AY 2010-11): 8. In this year facts are same, the AO denied exemption u/s 11 of the Act because registration u/s 12AA have been denied t .....

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urther addition of ₹ 4,17,94,857/- and computed the total income of assessee at ₹ 8.93 crores. The Ld. CIT(A) dismissed the appeal of assessee as regards exemption claimed u/s 11 of the Act on the same reasoning that SLP of the Department is pending before the Hon ble Supreme Court. As regards infrastructure reserve fund kept pending on account of surplus, Ld. CIT(A) found that the receipt in question is Revenue in nature, and accordingly, dismissed the appeal of the assessee. 11. After considering the rival submission, we are of the view that the matter requires reconsideration at the level of the AO. As regards exemption u/s 11 of the Act, issue is same as has been considered and decided in AYs 2009-10 & 2010-11 (supra). F .....

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assessee is entitled for exemption from income u/s 11 of the Act as per law. Even if the infrastructure reserve fund may be treated as income of assessee, it will have to be examined, whether, assessee is entitled for exemption u/s 11 of the Act on the same income. Therefore, it would depend upon fundings with regard to exemption u/s 11 of the Act. We have already restored the issue of exemption u/s 11 of the Act to the AO for fresh decision as per law. Further, the authorities below have not appreciated the fact that assessee claimed that infrastructure fund was received for development activities from the State Authorities, the assessee has to spend the amount on the same as per approval of the State Authorities. Thus, there may not be an .....

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