2015 (7) TMI 652

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.... 2.1 The Revenue has raised six elaborate grounds in its appeal, and they are concised herein below for adjudication:-- 1. The Ld. CIT (A) erred by allowing assessee's appeal by holding that the assessee is entitled for exemption U/s.11A of the Act, although the assessee's activities were in the nature of "advancement of general public utility" being printing and sale of books, magazines, pictures, calendars, diaries and novelties wherein the second proviso to Section-2(15) of the Act is attracted. 2. The Ld. CIT (A) erred by allowing the claim of the assessee of depreciation amounting to Rs. 35,447/-. 2.2. Cross Objections The assessee has raised two grounds in support of the order of the Ld. CIT (A), however the crux of the i....

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....ee trust is a part of Vivekananda Kendra group of charitable institutions (VK) which has been the forefront service to humanity for the past five decades, 2. The major activities of the parent trust VK was to maintain and upkeep Vivekananda Rock Memorial at Kanyakumari, propagate teachings and thoughts of Swami Vivekananda, provide value based education by running schools and educational institutions, provide medical relief to the poor, conduct regular yoga camps, to conduct research etc. 3. The assessee also placed reliance in the case of Oxford University Press Vs. CIT in 115 Taxman 69 (SC), Secondary Board of Education Vs. ITO in 86 ITR 408(Orissa). 4. However the Ld. Assessing Officer disregarding the objects of the assessee's ....

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....preservation of monuments of places or objects of artistic or historical interest or advancement of any other general public utility'. The objects of the assessee's trust are only in support of the assessee's parent trust. Therefore, the scope of the assessee's trust cannot go outside the ambit of the objects of the parent trust but in parity with the assessee's parent Trust. Hence all the activities of the assessee's trust which are associated with the main objects of the assessee's Parent trust has to be recognized in consonant with the assessee's Parent Trust "VK" viz., 'education', 'relief to the poor', 'medical relief', 'preservation of monuments of places or objects of artistic or historical interest' or 'advancement of any other gene....