2013 (7) TMI 583

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....case are that assessee i.e. State Urban Development Agency (SUDA) was created on 20th November, 1990 and it was registered as Cooperative Society and became the State Autonomous Body as per the Article of Association. The SUDA i.e. the assessee had applied for the registration under Section 12A of the Income Tax Act as charitable institution, but the CIT has refused registration vide order dated 22.05.2007. Being aggrieved, the SUDA i.e. assessee has assailed the same before the Tribunal, who vide order dated 08.02.2008 has restored the matter back to the file of the CIT with certain directions to examine the matter afresh. But, vide his order dated 25.03.2009, again CIT has endorsed his earlier order, where registration under Section 12A o....

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....188 (Guj); (ii) CIT vs. Madras Stock Exchange Ltd. (Mad), 105 ITR 546 (Mad); and (iii) Delhi Stock Exchange Association Ltd. vs. CIT, 126 ITR 532 (Delhi), affirmed by the Hon'ble Supreme Court, 225 ITR 235. Lastly, he made a request to restore the order of the CIT. On the other hand, Sri K.R. Rastogi holding brief of Sri S.K. Garg, learned counsel for the assessee has justified the Tribunal's order. At the strength of written submission, learned counsel for the assessee has read out the main objectives of the society, which on reproduction reads as under:- (a) To identify the urban poor in the state. (b) To draw up plans and formulate scheme for upliftment of the urban poor in the state. (c) To implement scheme for the ....

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.... ITR 361; (g) Ahmedabad Development Authority vs. Dy. DIT (Exemption); (2011) 335 ITR 575; (h) U.P. Forest Corporation vs. Dy. Commissioner of Income-tax; (2008) 297 ITR 01 (SC); (i) CIT vs. U.P. Forest Corporation Ltd., ITA No. 70 of 2009; (j) CIT vs. U.P. Forest Corporation Ltd., SLP (CC) 2590/2011; (k) Fifth Generation Education Society vs. CIT, (1990) 185 ITR 634 (All.); (l) CIT vs. Red Rose School; (2007) 212 CTR 394 (All.); and (m) Director of Income-tax vs. Garden City Educational Trust, (2009) 28 DTR 139 (Kar). Lastly, he justified the impugned order. We have heard both the parties at length and gone through the material available on record. From the record, it appears that since 1990-91 i.e. when the a....

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....erved by the Hon'ble Apex Court in the case of CIT, Gujarat Maritime Board, [2007] 295 ITR 561 (SC). Further, the words "charitable purposes" defined in Section 2(15) of the Income-tax Act, 1961, include the advancement of any other object of general public utility. Prior to April 1, 1984, the words used in the section were "advancement of any other object of general public utility not involving the carrying on of any activity for profit". The Finance Act, 1983, omitted the words "not involving the carrying on of any activity for profit" from the section with effect from April 1, 1984. Thus, after April 1, 1984, even if there is some profit in the activity carried on by the trust/institution, so long as the dominant object is of general ....