2015 (7) TMI 1115

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.... Respondent by : Shri A.V. Sreekanth, JCIT O R D E R PER N.R.S.GANESAN, JUDICIAL MEMBER This appeal of the assessee is directed against the order of the Commissioner of Income-tax (Appeals)-VII, Chennai, dated 25.09.2013 and pertains to assessment year 2009-10. 2. Shri S. Seetharaman, ld. Representative for the assessee submitted that the assessee is a registered charitable trust u/s 1....

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.... reliance on the judgment of the Hon'ble Delhi High Court in India Trade Promotion Organization vs Director General of Income-tax (Exemptions) [2015] 53 taxmann.com 404. The ld. Representative has also placed his reliance on the statement made by the Hon'ble Finance Minister on the floor of the Parliament while moving Finance Bill, 2008. 4. On the contrary, Shri A.V. Sreekanth, ld. Depa....

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....nder consideration is 2009-10. The Parliament by Finance Act, 2008 introduced first proviso to section 2(15) of the Act clarifying that the services rendered in relation to trade, commerce or business are not eligible for exemption since the same cannot be considered to be as charitable purpose. This first proviso to section 2(15) of the Act came into operation with effect from 1.4.2009. In other ....

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....e Assessing Officer has to reconsider the issue afresh. It is made clear that the first proviso to section 2(15) of the Act would be applicable from assessment year 2010-11, therefore, in view of the changing scenario, the eligibility of the assessee has to be examined by the Assessing Officer afresh from assessment year commencing from 2010-11. We are not expressing any opinion with regard to exe....