2016 (4) TMI 1179

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....g on behalf of the Revenue would submit that this appeal raises substantial questions of law and which have been formulated by the Revenue on page 6 and 7 of the paperbook. 3. Mr. Malhotra sought to rely upon Section 12AA of the Income Tax Act, 1961 to submit that exercise of the power under subsection (3) thereof could be guided by the newly inserted proviso to Clause 15 of Section 2 of that Act. Thus, endeavour is that the term "charitable purpose", as is defined in the Income Tax Act, includes what has been specified therein and inter alia the advancement of any other object of general public utility. The proviso and the first one to this would indicate that advancement of any other object of general public utility shall not be a char....

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....dertaken 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 us, namely, Maharashtra Housing and Area Development Authority (MHADA) has been carrying on activities in the nature of trade, commerce or business, etc., and gross receipts therefrom are in excess of Rs. 10 lakhs. That is how the proviso to Section 2(15) would be attracted. This Assistant Director requested the Director, therefore, to consider withdrawal of registration, as granted to the assessee. 6. All that has been referred by the Director is the details of income in Income and Expenditu....