2015 (6) TMI 1130

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....ing exemption u/s 11 & 12 of the Income Tax Act, 1961 to the assessee without appreciating the fact that the Ld. CIT-I, Kanpur has withdrawn the registration u/s 12A of the Income Tax Act, 1961, granted to the assessee on the basis that the assessee was carrying on its educational activities on commercial basis and income derived therefore was being diverted for the personal uses of the members of the society. 2. That the Ld. Commissioner of Income Tax (Appeals)-II, Kanpur has erred in law and on facts in not appreciating the fact that restoration of registration u/s 12A of the Income Tax Act, 1961 by Hon'ble ITAT was not accepted by the department and the same is pending before Hon'ble High Court, Allahabad for adjudicatio....

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....sidered the rival submissions. We find that in assessment year 2008-09 also, the grounds raised by the Revenue in its appeal were similar. In that year, it was held by the Tribunal that since the Tribunal order, as per which the registration granted to the assessee u/s 12A has been restored by the Tribunal, is still valid and therefore, the income of the assessee has to be computed as per section 11 & 12 of the Act. The Tribunal also held in that year that the income of the assessee should be assessed under the provisions of section 11 & 12 of the Act and if the assessee is able to establish that 85% or more of the income of the assessee has been utilized for the purpose of assessee institution then the income of the assessee should be exem....