TMI Blog2022 (5) TMI 1568X X X X Extracts X X X X X X X X Extracts X X X X ..... HELD THAT:- Appellant fairly admits that the first question of law is covered by the decision of this Court [ 2018 (3) TMI 1601 - DELHI HIGH COURT] in favour of the assessee. Also admits that the second question of law is a consequential question of law and accordingly, the same stands covered by the aforesaid judgment. Application of income on the account of depreciation - The third propos ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the circumstances of the case and in law, ld. ITAT has erred in granting the assessee the benefit of section 11 and 12 of the Income Tax Act, 1961 ignoring the fact that the activities are commercial in nature and cannot be held to be charitable in view of the proviso (ii) to section 2(15) of the Act? 2.2 Whether on the facts and in the circumstances of the case and in law, ld. ITAT has err ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... l for the appellant further admits that the third proposed question of law is also covered by the decision passed by the Supreme Court in Commissioner of Income Tax-III, Pune v. Rajasthan Gujarati Charitable Foundation Poona, [2018] 402 ITR 441 (SC). 4. Consequently, this Court is of the view that no substantial question of law arises for consideration. 5. In view of the aforesaid, the pre ..... X X X X Extracts X X X X X X X X Extracts X X X X
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