2021 (4) TMI 359

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.... 2019 in ITA No.1435/Ahd/2017 raising the following substantial questions of law : "[A] "Whether on the facts and circumstances of the case and in law, the Hon'ble Tribunal was justified in allowing the benefit of exemptions under section 11 & 12 of the Act without considering the fact that the assessee is involved in widespread commercial activities in nature of business and the activity of the assessee is covered under provisions to section 2(15) r.w.s. 13(8) of the Act?" [B] "Whether on the facts and in the circumstances of the case and in law, the Hon'ble Tribunal is justified in allowing exemption u/s.11 of the Act on Net surplus of Rs. 20,62,53,049/- without appreciating that the proviso to section 2(15) r.w.s. 13(8)....

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....3(8) of the Act?" [G] "Whether on the facts and in the circumstances of the case and in law, the Hon'ble Tribunal is justified in allowing benefit of section 11 of the Act relying on the decisions of co-ordinate bench in the case of Gujarat Cricket Association vs Joint Commissioner of Income Tax (Exemptions), (2019) 101 taxmann.com 453 (Ahd. Trib.), without appreciating that the Department has not accepted the decision of the Hon. High Court in Tax Appeal No.317/2019 and proposed SLP before the Hon. Supreme Court?" 2. At the outset, learned advocate Mrs.Mauna Bhatt for the Revenue submitted that the similar issues have been decided against the Revenue by this Court in the case of Director of Income Tax V/s. Gujarat Cricket Assoc....

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....ent for the purpose of determining the nature the activities of the assessees, was the object and the activities of the assessee, and not that of the Board. The nature of the activities of the assessees could not take tts colour from the nature of the activities of the donor. The Tribunat had held that all the three cricket associations were charitable institutions, The Tribunal could be said to have taken a reasonable view of the matter, and having recorded a finding of fact based on the material on record, the finding could not be interfered with, All three cricket associations were entitled to exception under Section 11. (ii) That one of the sources of income enumerated in clause (d) of subsection (1) of section 11 was income in....