TMI Blog2015 (11) TMI 1832X X X X Extracts X X X X X X X X Extracts X X X X ..... maintenance fee, being in the name of franchisee income earned by the assessee was taxable - CIT-A deleted the addition - HELD THAT:- The issue is covered in favour of the assessee and against the Revenue by a series of decisions of the Tribunal in the assessee s own case. The Ld. CIT(A) has followed the binding decisions of the ITAT in the assessee s own case for the A.Y. 1998-99, 1999-2000, 2001 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (DPS) by itself. Further more, it has granted permission to 90 Societies/Trusts spread across India to open schools in the name of DPS. Similarly permission is granted to 25 entities outside India, to open schools in the name of DPS. Thus DPS Schools are opened and run by other Society/Trusts, after obtaining permission from the assessee Society. These are called Satellite Schools. These Satellit ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... xemption u/s 10(23C)(vi) is no longer available to the assessee for A.Y. 2006-07. However, since the assesse has been granted registration u/s 12AA of the Act, the assessment for A.Y. 2006-07 has been carried out subject to the provisions of s.11 and 12 of the Act. In this regard, in the assessment order it has clearly been recorded that In view of the fact that notification u/s 10(23C)(vi) of th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... arious orders, as consistently upheld the orders of the Ld. CIT(A) and decided the issue in favour of the assessee. 3. Aggrieved, the Revenue is in appeal before us on the following grounds. 1. On the facts and in the circumstances of the case, the Ld. CIT(A) ;has erred in deleting the addition of ₹ 6,56,56,420/- made by the AO in respect of franchise fees received by the DPS Society ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
