TaxTMI 
TaxTMI 
2020 (12) TMI 1200
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....e by way of creation of a trust vide Trust Deed dated 23.05.1961, and has been engaged in cultural and intellectual activities, like conducting seminars, talks, discussions and cultural activities. Its objectives include, exchanging knowledge thereof, and by providing such other facilities as would lead to their universal appreciation; to undertake, organize and facilitate study courses, conferences, seminars, lectures and research in matters relating to different cultural patterns of the world; to undertake, facilitate and provide for the publication of news-letters, research papers and books and of a journal for the exposition of cultural patterns and values prevailing in different parts of the world; to establish and maintain libraries a....
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....ent. Learned Assessing Officer further found that the activities of the assessee are hybrid, partly covered by provisions of section 10(23C)(iv) read with Section 2(15) and partly by principle of mutuality. According to the learned Assessing Officer, an assessee can have income from different heads or income from different sources, but it cannot have its income and expenditure from the same source apportioned on the basis of different principles, as claimed by the assessee, and, therefore, the assessee cannot be allowed to compartmentalize its activities and income arising there from, under charitable activities and mutual activities, since all the activities have to be seen in the totality. Learned Assessing Officer further observed that w....
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....e identical as had been raised by the earlier Assessing Officers in the Assessment Orders of earlier years, and in respect of the earlier years basing on the orders for the assessment years 2011-12 and 2012-13 in assessee's own case by his predecessor and also by the Tribunal. 5. Revenue is, therefore, before us in these appeals and it is argued that the activities of the assessee falls within the purview of commercial activities as it had provided benefits only to selected persons and not to public at large, and these activities cannot be called as charitable activity within the purview of Section 2(15) of the Act; thatbeing notified u/s. 10(23C)(iv) does not make assessee entitled to claim exemption till it is proved that the activities ....
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....ctivities of the assessee Trust are not governed by the proviso to section 10(23C)(iv) of the Act. Ld. Assessing Officer has also noted that although the assessee claims that it is working on "no profit and no loss basis", yet the income and expenditure account of the assessee Trust reveals that it earning surplus year after year. 8. It is not in dispute that the reasons for denying the exemption by the learned Assessing Officer in 2013-14 and 2014-15 or identical to the reasons recorded for earlier years, namely, Assessment Year 2009-10 by the learned DIT in his order u/s 263 of the Income Tax Act and thereafter, on the identical grounds and by making similar observations the exemption has been denied. It is also not in dispute that the o....