2008 (12) TMI 754

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....ferred this appeal under section 260-A of the Income tax Act, 1961 (in short, 'the Act') against the order of the Income Tax Appellate Tribunal, Chandigarh Bench-B in ITA No.904/Chandi/2006 dated 20.7.2007, proposing to raise following substantial questions of law:- "i) Whether on the facts and the circumstances of the case, the Hon'ble ITAT was correct in holding that the rec....

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....purposes of Sections 11,12 and 13 of the Act, whereas it is not a voluntary contribution?" 2. The assessee is a charitable society for promotion of sports and is registered under section 12-A of the Act. It receives grants from Central and State Government for specific purposes for developing sports and for meeting expenses of the society. The Assessing Officer treated the grants to be income o....

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....treated as income of the society. The matter was directed to be decided afresh by the Assessing Officer. 3. In view of finding of the Tribunal, there is no reason to hold that grants-in-aid received from the Central or State Government for specific purposes for advancement of sports are not to be treated as voluntary contributions or are to be treated as taxable income of the society. The metho....