2013 (4) TMI 726

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....rcumstances of  the appellant's  case, the Learned CIT (Appeals) has erred in not appreciating the fact  that grant received of Rs. 7,68,96,000 is accompanied by legal obligation  and, therefore, it does not partake the character of voluntary contribution  within the meaning of Section 12(1) of the Act and  partake the character  of corpus donation which is not required to be applied under Section 11 of  the Act and exempt u/s 11(1)(d) of the Act.  3. In law and on facts and in the circumstances of  the appellant's  case, the Learned CIT (Appeals) has erred in upholding that intimation  under explanation 2 to section 11(1) is mandatory.  The Ld CIT(A) ought  to....

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....(1) of the Act claimed by appellant cannot be granted as it depends on  utilization certificate showing the utilization of  fund by Indian Red Cross  Society. The Ld CIT(A) ought to have appreciated th at the liability  attached with grant of Rs. 7,68,96,000 was discharge d by the Appellant  Society at the time of disbursement of the fund to  the Indian Red Cross  Society in accordance with the guidelines laid down by the NRHM and,  therefore, the application of income of Rs. 7,68,96, 000/- under Section  11(1) should be allowed to the appellant authority  in A.Y.2009-10."  3. The learned counsel for the assessee submitted t hat the assessee was  incorporated by the Government o....

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....d in the  compilation before the Tribunal. He submitted that the issue is covered in  favour of the assessee with the decision of the Hon'ble jurisdictional High  Court in the case of CIT Vs. Gujarat State Disaster Management Authority,  in Tax Appeal No.80/2010 dated 13-6-2011 wherein in similar facts, the  issue was decided in favour of the assessee. The l earned DR has relied on  the order of the AO and the CIT(A).  4. We have considered rival submissions and have perused the orders  of the AO and the CIT(A), and also the copies of various documents filed  by the assessee in the compilation filed before us. We find that the assessee  was incorporated as a nodal agency to regulate the&n....