TaxTMI 
TaxTMI 
2013 (7) TMI 484
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....ahul Agrawal ORDER We have heard Shri Shambhu Chopra, learned counsel for the income tax department. Shri Rahul Agrawal appears for the respondent assessee. This income tax appeal under Section 260A of the Income Tax Act, 1961 arises out of the judgment dated 29.10.2010 passed by the Income Tax Appellate Tribunal for the assessment year 2004-05. The appeal has been preferred on following quest....
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....ed construction work of College building was given to M/s ICEC Construction Co. which came into existence only on 01.04.03 and the resolution awarding the contract to the said construction co. was passed on 12.05.03 and the resolution dt.24.05.03 shows that the construction of the building had been completed?" Shri Shambhu Chopra relies upon assessment order dated 16.10.2006, which was confirmed ....
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..../- interest under Section 234A, 234B and 234C and directed penalty notice to be issued under Section 271 (1) (c). The Tribunla has found that so long as exemption order stands, which is available under Section 10 (23c) (iii ad) the question as to how amount was spent is not of relevance for the purposes of framing assessment. The Tribunal has held as follows:- "Since the proviso to section 10 (2....
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....l and Lodging Association Educational Institute vs. CBDT, 301 ITR 86 (SC)." The Tribunal also held that since the assessee has already been allowed exemption under Section 10 (23c) (iii ad), therefore, alternate ground taken by the assessee relating to exemption under Section 11 does not require adjudication. We find that the Tribunal has not committed any error in recording this finding that so....