2019 (1) TMI 1890

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....28.4.2017. It is pertinent to note that Revenue has filed an appeal also against the impugned orderof the ld.CIT(A) i.e. ITA No.2738/Ahd/2016. Cross appeals of the both the parties were decided by the Tribunal alongwith with their appeals for the Asstt.Year 2013-14 on 10.11.2017. It appears that parties have not brought to the notice of the Tribunal about the cross objection of the Revenue filed in the Asstt.Year 2012-13, hence CO remained unadjudicated. 2. In the CO Revenue has taken the following grounds: "I. The Appellant prays that the Hon'ble Tribunal be pleased to permit to admit the following grounds i. The respondent Assesses has violated the provisions of Section 11(5) of the Act and that provisions of Sect....

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....and do not in any way, circumscribe or control the power of the Tribunal." IV. The Appellant craves leave to add, amend, alter vary and /or withdraw any or all the above grounds of Appeal." 3. With the assistance of the ld.representatives, we have gone through the record carefully. It emerges out from the record that the assessee has filed its return of income on 26.9.2012 declaring a loss at Rs. 18,17,39,45,398/-. An assessment order was passed under section 143(3) on 25.3.2015. The ld.AO did not grant benefit of sections 11 and 12 of the Act and computed income as per normal provision of the Income Tax Act. He made various additions and ultimately determined taxable income at Rs. 16,76,42,10,676/-. On appeal, the ld.CIT(A) fur....

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....'ble Gujarat High Court are extracted hereunder:- Section 2(15), read with section 11, of the Income-tax Act, 1961 - Charitable purpose (Objects of general public utility) - Assessment year 2009-10 - Whether where assesseecorporation was constituted under Gujarat Industrial Development Act, 1962, for purpose of securing and assisting rapid and orderly establishment and organization of industrial areas and industrial estates in State of Gujarat, and for purpose of establishing commercial centers in connection with establishment and organization of such industries it could not be said that activities carried out by assessee were either in nature of trade, commerce or business, for a Cess or Fee or any other consideration so as to attract ....