2016 (4) TMI 1179

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.... Mr. S.E. Dastur, Senior Counsel with Mr. Nishant Thakkar i/by M/s. Mint & Confreres ORDER P. C. 1. This appeal of the Revenue challenges an order passed by the Income Tax Appellate Tribunal dated 22-2-2013 in Income Tax Appeal No.435 of 2012. The Assessment Year is 2009-10. 2. Mr. Malhotra, appearing on behalf of the Revenue would submit that this appeal raises substantial questions of law an....

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....lation to any trade, commerce or business, for a cess or fee or any other consideration, irrespective of the nature of use or application, or retention, of the income from such activity. Mr. Malhotra would submit that the moment this proviso is attracted, then the Commissioner can record a satisfaction that the activities of the Trust or institution are not genuine or are not being carried out in ....

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....o not decide any academic question or controversy but a susbstantial question of law and said to be arising between the parties from an adjudication undertaken by the authorities under the Income Tax Act. 5. In the present case, the order of the Director of Income Tax (Exemption) refers to a proposal received from the Assistant Director, Mumbai and which proposal stated that the assessee before u....

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.... 1976. It has no profit motive, far from indulging in any trade or commerce and as far as the activities alleged or the income generated, what has been pointed out is that MHADA gives houses to middleclass families at affordable rents. The income is on account of sale of housing stock and which is erroneously termed, according to MHADA, as coming from a systematic commerce and business activities.....