2017 (8) TMI 183

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....: Alok Matur ORDER 1. Heard Sri Alok Mathur, learned counsel for appellant and learned counsel for respondent. 2. This is an appeal under Section 260A of the Income Tax Act, 1961 (hereinafter referred to as " Act 1961") arising from judgment dated ITA No. 758/LKW/2014 relating to assessment year 2010-11. 3. Tribunal considered following five issues, raised by Revenue in appeal before T....

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.... 1961 by Hon'ble ITAT was not accepted by the department and the same is pending before Hon'ble High Court, Allahabad for adjudication. "That the Ld. Commissioner of Income Tax (Appeals)-II Kanpur has erred in law and on facts in not appreciating the fact that the Assessing Officer has rightly treated income of the assessee as Income from business or profession treating the status of th....

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....al considering issues no. 1 and 3 has observed that in view of restoration of registration under Section 12A, Assessing Officer (hereinafter referred to as " A.O") has now to compute income as per Section 11 and 12 of Act, 1961 and if Assesses is able to establish that 85 percent or more of the income of Assessee has been utilized for the purpose of Assessee then income of Assessee should be exemp....