2024 (12) TMI 395

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....v, AOR Mr. Sachin Sharma, Adv. Mr. Vikas Arora, Adv. Mr. Naman Tondon, Adv. Mr. Rupinder Sinhmar , Adv For the Respondent : Mr. S. Udaya Kumar Sagar, Adv. Mr. Tushar Singh, Adv. For M/s. Lawyer S Knit & Co , AOR ORDER 1. This petition is at the instance of the Revenue seeking to question the legality and validity of the order passed by the High Court dated 24-11-2021 in Income Tax Appeal No.14....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....l Trustee of assessee society? (ii) whether on the facts and in the circumstances of the case and in law, the Hon'ble ITAT was right holding that violation of conditions under Section 13(1)(c) would not result in denial of exemption on the whole income and denial be restricted to the income in violation of provisions of Section 13(1)(c) relying on the decision of Bombay High Court in the ca....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....enue is here before this Court. 6. It is not in dispute that the Income Tax Appeal No.1454/2017 is pending for final hearing. 7. The High Court seems to have declined to admit the appeal on the second substantial question of law as proposed by the Revenue, on the premise that the same is covered by Finance Act, 1984, Circular No.387 dated 6-7-1984 issued by the Income Tax Department. 8. The Hig....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

.... 11. As the Income Tax Appeal No.1454/2017 has already been admitted on one substantial question of law, it will be in fitness of things if the High Court also looks into the second question of law as proposed by the Revenue, more particularly when it has been vociferously submitted that Circular No.387/6.7.1984 is not applicable. 12. In such circumstances, we are of the view that the High Court....