2023 (1) TMI 491

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....isposed of by this common order. 2. ITA 48 of 2011 is directed against an order dated 20th May, 2011 passed by the Income Tax Appellate Tribunal, Cuttack Bench, Cuttack (ITAT) in ITA No.99/CTK of 2011 and ITA No.114/CTK of 2011 for the AY 2007-08 and ITA 89 of 2017 is directed against an order dated 9th August, 2017 of the ITAT in ITA No.395/CTK of 2012 for the AY 2008-09. 3. In both these appeals, common questions have been urged for consideration by this Court by the Revenue. The first question relates to the registration granted to the Assessee under Section 12A of the Income Tax Act, 1961 (Act). The question urged is whether such registration allows the Assessee automatic exemption from income tax on all types of income? 4. It is poi....

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....the amounts so set apart. 7. Mr. Radheshayam Chimanka, learned Senior Standing Counsel for the Revenue submits that inasmuch as a copy of the resolution of the Assessee Trust was not furnished, the above statement regarding amount being accumulated for charitable activities cannot be acted upon. 8. A perusal of Form No.10 reveals that the requirement of the resolution, referred to in the statement therein, having to be enclosed with the said Form, has not been indicated. In other words, there is nothing in either Section 11(2) of the Act or Rule 17(2) of the Rules that mandates the furnishing of such resolution by the Assessee in order for the statement in Form No.10 to be acted upon by the AO. Consequently, the Revenue cannot insist on a....

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....inted out on behalf of the Assessee that it is bound by the guidance note of the Ministry of Shipping and Transport, Government of India and the requirement under the Companies Act as regards maintaining its accounts on accrual basis. Consequently, this Court finds no reason to take a view different from what the ITAT has taken in the matter. 14. It is next sought to be urged that the Assessee had withdrawn the ground urged by it before the Commissioner of Income Tax (Appeals) [CIT(A)] regarding taxability of interest on two Funds. A perusal of the order of the CIT(A) shows that in fact the Assessee had maintained its contention against the additions made by the AO in this regard and the CIT(A) upheld the additions. Therefore, the question....