2022 (7) TMI 1599

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....hyap Vapari For the Revenue: Shri Vivek Anand Ojha ORDER: PER M. BALAGANESH (A.M): These appeals in ITA Nos. 1048/Mum/2022, 1049/Mum/2022 & 1050/Mum/2022 for A.Y.2015-16, 2016-17 & 2017-18 arise out of the order by the ld. Commissioner of Income Tax (Appeals) National Faceless Appeal Centre (NFAC) in appeal No. CIT(A)-1, Mumbai/10206/2017-18, CIT(A)-1, Mumbai/10716/2018-19 & CIT(A)-1, Mumbai....

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....circumstances of the instant case. 3. We have heard the rival submissions and perused the materials available on record. At the outset, we find that the ld. AO had sought to treat the conduct of the assessee in running a pharmacy on commercial basis. The ld. AO on perusal of the financials of the pharmacy and the assessee society on overall basis observed that the surplus earned in pharmacy contr....

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....'ble Bombay High Court and the same are pending. It is not in dispute that assessee is a charitable trust duly registered u/s. 12A of the Act and entitled for exemption u/s. 11 of the Act. It is not in dispute that the main objective of the assessee trust is education and medical relief to the public at large, interalia among others. We find that the issue in dispute is no longer res integra in vi....