2015 (10) TMI 1429

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.... N K Billaiya This appeal by the assessee is directed against the order of Ld. CIT (A), Belgaum, dated 16/01/2014 for the A.Y. 2009-10. 2. The sum and substance of the grievance of the assessee is that the Ld. CIT(A) failed to hold the assessee eligible u/s. 10(23C)(iiiac) of the Act. 3. Briefly stated the facts of the case are that the assessee is a district level society, which comes un....

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.... any of the clauses mentioned in sec. 10(23C) of the Act. The Assessing Officer further observed that the application of the assessee made u/s. 12AA of the Act has been rejected by the Commissioner of Income-tax, Belgaum vide his order dated 28/09/2011. Thus, the assessee is not entitled for exemption u/s. 11 of the Act. The Assessing Officer concluded by treating the interest income earned from b....