2020 (3) TMI 505

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....p; P.C. : 1. Heard, Mr.Mohanty, learned standing counsel revenue for the appellant and Mr. S.C. Tiwari alongwith Ms. Rutuja Pawar for the respondent / assessee. 2. This appeal has been preferred by the revenue under Section 260A of the Income Tax Act, 1961 ("the Act" for short) against the order dated 10.01.2018 passed by the Income Tax Appellate Tribunal, "C" Bench, Mumbai ("Tribunal" fo....

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....ssee for exemption under Section 11 of the Income Tax Act, 1961 by ignoring the fact that the Assessing Officer in his order has pointed out that the assessee runs a pharmacy store in its hospital for profit motive and without appreciating the fact that the assessee's turnover from the Pharmacy store is substantial as compared to the gross receipts and so it cannot be said to incidental to att....

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....High Court in the case of Baun Foundation Trust vs. CCIT [2012 73 DTR 45 (Bom)] decided on the issue of applicability of Section 10(23C) (via) and the twin conditions specified in sec. 11(4A) of the Income Tax Act which include rejection of maintaining separate books of account were not be issue involved ? 5. Whether on the facts and circumstances of the case and in law, the Tribunal is j....