2023 (7) TMI 622 - SCH - Income Tax

Supreme Court Overrules Previous Order, Condones Filing Delay, and Resolves All Pending Applications in Key Judgment.

The SC set aside the impugned order and disposed of the SLP in accordance with a specific judgment. The delay in filing was condoned, and all pending ... Exemption u/s 11 - scope and amplitude of the definition “charitable purpose” - Claim denied as activities are commercial in nature and cannot be held to be charitable in view of the proviso (ii) to section 2(15) - ITAT and HC allowed exemption to assessee - As submitted that this Special Leave Petition could be dispose of in terms of the said judgment in AHMEDABAD URBAN DEVELOPMENT AUTHORITY [2022 (10) TMI 948 - SUPREME COURT] and observations of this Court, inter alia, in para 282 would squarely apply to this case also. HELD THAT:- In the circumstances, the impugned order is set aside. The Special Leave Petition is disposed of in terms of the [2022 (10) TMI 948 - SUPREME COURT] judgment. The Supreme Court in Citation 2023 (7) TMI 622 - SC Order, Justices B.V. Nagarathna and Prashant Kumar Mishra heard a case where the impugned order was set aside and the Special Leave Petition was disposed of in terms of a specific judgment. The delay was condoned, and pending applications were disposed of. Key counsels involved were Mr. N Venkatraman, Mr. Rishabh Sancheti, and others.