2021 (12) TMI 403

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....egistered u/s 12A(a) of the Act vide order dated 27.03.1995 and has been stated to be claiming exemption in terms of Section 11, 12 & 12AA of the Act regularly. Assessee filed its return of income for A.Y. 2015-16 on 27.11.2015 declaring income of Rs. 2,36,670/- after claiming exemption u/s 11 of the Act. The case was selected for scrutiny and thereafter assessment was framed u/s 143(3) of the Act vide order dated 27.12.2017 and the total income was determined at Rs. 46,87,09,670/-. Aggrieved by the order of AO, assessee carried the matter before the CIT(A) who vide order dated 22.03.2018 allowed the appeal of the assessee. Aggrieved by the order of CIT(A), Revenue is now in appeal before us and has raised the following grounds: 1.....

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....o observed that assessee had received rent of land, factory, Building and from transmissions towers of BSNL & Vodafone etc. AO was of the view that the aforesaid receipts were in the nature of either trade or fee or cess or business receipts which do not fall in the ambit of first five purposes of sub section (15) of Section 2 of the I. T. Act but fall under the purpose namely "advancement of any other objectives of general public utility". He thereafter concluded that the activities of the trust was not charitable in nature but the activities could be said to be falling under the category of "advancement of any other objectives of general public utility". He noted that since the income of the trust during the year exceeds Rs. 25 lakh, bein....

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.... of Tribunal had decided the issue in favour of the assessee which is reported in [2013] 37 taxmann.com 227 dated 27.08.2013. He thereafter submitted that aggrieved by the order of Tribunal, Revenue had carried the matter before the Hon'ble High Court of Uttarakhand at Nainital. The Hon'ble High Court vide order dated 27.02.2019 in ITA No.05/2014 has held that the AO was not justified in denying exemption u/s 11/12 of the Income Tax Act, 1961. He thereafter submitted that against the order of Hon'ble High Court of Uttarakhand, Revenue filed SLP before the Supreme Court which was dismissed on 09.08.2019. He pointed to the copies of the relevant order in the paper book. He thereafter submitted that considering the aforesaid facts, the Co-ordi....