2018 (9) TMI 963

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....ter referred to as 'the assessee') by filing the present appeals, sought to set aside the impugned order dated 11.10.2017 passed by Ld. CIT (Appeals)-II, Kanpur qua the assessment years 2013-14 & 2014-15 on the grounds inter alia that:- "1. BECAUSE the "CIT(A)" has erred in law and on facts in holding that a) activities carried on by the appellant involved "carrying on of activity in the nature of trade, commerce or business or any other activities rendering service in relation to any trade, commerce or business for a cess or fee or any other consideration" as hit by proviso to sub-section (15) of section (2) of the Act; and b) in-concurring with the finding/ decision given by the ld. First Appellate Authority vid....

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....k for the objectives of (i) providing relief to the poor, (ii) medical relief and (iii) education and accordingly the proviso to section 2(15) is ousted from its applicability in the instant case. 5. BECAUSE in any case it is pleaded that looking to the undisputed facts that a) the appellant is a company wholly owned by the Central Government, through President of India; b) it had been approved by Government of India under section 25 of the Companies Act 1956;and c) by virtue of prohibition on distribution of' dividend' as is contained in the approval itself it could not be said or held that activities carried on by it (the appellant) were motivated by 'consideration' (as envisage....

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.... thereby assessed the total income of the assessee corporation at Rs. 18,30,93,780/- and Rs. 35,12,41,340/- for AYs 2013-14 & 2014-15 respectively. 4. Assessee carried the matter by way of appeal before the ld. CIT (A) who has dismissed the appeals. Feeling aggrieved, the assessee has come up before the Tribunal by way of filing the present appeals. 5. The Revenue department has not preferred to put in appearance and consequently, we proceeded to decide the present appeal with the assistance of the ld. AR for the assessee as well as on the basis of documents available on the file. 6. We have heard the ld. Authorized Representative for the assessee to the appeal, gone through the documents relied upon and orders passed by the revenu....