2018 (7) TMI 2147

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....Standing Counsel ORDER Ajay Kumar Mittal, J. 1. The appellant-revenue has filed the instant appeal under Section 260A of the Income Tax Act, 1961 (in short, "the Act") against the order dated 13.07.2017, Annexure A.3, passed by the Income Tax Appellate Tribunal, Chandigarh Bench (in short, "the Tribunal") in I.T.A. No.120/CHD/2017, for the assessment year 2012-13, claiming following substantial....

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....ent in a similar manner as Development Authorities do)? (iv)Whether the Hon'ble ITAT was wrong in not acknowledging that performing statutory functions does not absolve a government created authority from paying taxes? (v) Whether on the facts and in the circumstances of the case, the Hon'ble ITAT was wrong in law in totally ignoring the ratio laid down in the case of PUDA Vs. CIT reported as ....

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....y the Government of Punjab for the purpose of planning, development and improvement of District Patiala. It filed its return of income declaring nil income after claiming exemption under Section 11 of the Act. The case was selected for scrutiny. During the course of assessment proceedings, the Assessing Officer observed that the assessee was carrying on business of sale and purchase of residential....

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....ion 11 of the Act. Aggrieved by the order, the assessee filed an appeal before the Commissioner of Income Tax (Appeals), [CIT(A)]. Vide order dated 06.10.2016, Annexure A.2, the CIT(A) allowed the appeal relying upon the orders passed by the Tribunal dated 13.06.2016 and 17.06.2016 for the assessment year 2011-12 in the assessee's own case. The appellant-revenue challenged the order dated 6.10.201....