https://www.taxtmi.com/caselaws?id=764627 ITAT Kolkata allowed the assessee's appeal and quashed the revisionary order passed under section 263. The tribunal held that the assessee trust qualified as a charitable institution entitled to exemption under section 11, as its public utility services were meager, making section 2(15) inapplicable. The section 263 order became infructuous since ITAT had already decided the issue favorably for the assessee in a subsequent assessment year, establishing that the proviso to section 2(15) was not applicable to the trust. en-us Tue, 15 Oct 2024 00:00:00 +0530 Tue, 14 Jan 2025 14:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=764627 ITAT Kolkata allowed the assessee's appeal and quashed the revisionary order passed under section 263. The tribunal held that the assessee trust qualified as a charitable institution entitled to exemption under section 11, as its public utility services were meager, making section 2(15) inapplicable. The section 263 order became infructuous since ITAT had already decided the issue favorably for the assessee in a subsequent assessment year, establishing that the proviso to section 2(15) was not applicable to the trust. Case-Laws Income Tax Tue, 15 Oct 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=764627