2013 (10) TMI 115

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....For the Respondent : Ashish Bansal ORDER 1. We have heard Sri Dhananjai Awasthi for the appellant-department. Sri Ashish Bansal appears for the respondent-Mandi Samiti. 2. This Income Tax Appeal under Section 260-A of the Income Tax Act, 1961 (the Act) is directed against the order dated 11.05.2007, passed by the Income Tax Appellate Tribunal, SMC Bench, Allahabad in Income Tax Appeal No.....

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....003? 3. Whether the Tribunal is justified in relying upon its earlier decision in ITA No. 445/A/06, Krishi Utpadan Mandi Samiti Mau Vs. CIT despite the fact that an appeal u/s 260-A of the Act is pending before the Hon'ble High Court against that order and the controversy/issue involved is sub-judice? 4. Whether the Tribunal is justified in ignoring the decision of the Hon'ble Supreme Court ....

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....o to develop the facilities for the farmers, are entitled for registration u/s 12-A of the Act as a trust, even if the application for registration was submitted belatedly, to claim tax exemption, as prior to 1.4.2003, registration u/s 12A of the Act was not needed. The respondent assessee was enjoying the exemption by virtue of Section 10 (20) as well as Section 10 (29) of the Act before its dele....