2018 (11) TMI 1645

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....aj, C.A For the Respondent : Smt. S. Vijayaprabha, JCIT ORDER Per A. Mohan Alankamony, AM:- This appeal filed by the assessee is directed against the order passed by the learned Commissioner of Income Tax (Appeals)-17, Chennai dated 22.01.2018, vide ITA No.116/2015-16 for the assessment year 2012-13 passed U/s.250(6) r.w.s 143(3) of the Act. 2. The assessee has raised several grounds in its ....

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.... Section 2(15) of the Act and thereby brought the entire income of the assessee under the ambit of tax. 4. At the outset, the Ld.DR submitted before us that in the case of the assessee for the assessment year 2009-10 to 2011-12, the issue was decided against the assessee and in favour of the Revenue by the Chennai Bench of the Tribunal in ITA Nos.2006 to 2008/Mds/2014 vide order dated 03.08.2016....

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....same to its members as well as other concerns which has similar nature of business as those of the members of the assessee society. Further from the objects of the assessee society, it is evident that such trading activity indulged by the assessee society is not mentioned in the objects of the assessee society. Moreover, the activity of the assessee society viz., procuring raw materials from abroa....

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....ct of general public utility". Therefore, relying in the decision cited by the learned assessing officer we are of the considered view that the proviso to section 2(15) of the Act would be applicable in the case of the assessee and accordingly, the surplus earned by the assessee deserves to be brought under the ambit of tax. It is ordered accordingly." For the relevant assessment year the Ld.CIT....