2023 (12) TMI 1494

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....'), as both the appeals arise out of same order dated 07.09.2018 (Annexure A-6 in both the cases) passed by the Income Tax Appellate Tribunal, Chandigarh in ITA No. 158/Chd/2015 for the assessment year 2008-09 and in ITA No.159/Chd/2015 for the assessment year 2009-10. It is pertinent to mention that ITA No.299 of 2019 has been dismissed as not maintainable vide order of even date on account of low tax element and in view of Circular No.3/2018 dated 11.07.2018 and Circular No.17/2019 dated 08.08.2019. 2. Reference is being made to ITA-297-2019, The Commissioner of Income Tax (Exemptions), Chandigarh vs. M/s. Punjab Heritage & Tourism Promotion Board, Chandigarh for the assessment year 2008-09. 3. The following substantial question....

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....ITA No. 1031/Chd/2012 for the AY 2009-10? (iv) Whether on the facts and in the circumstances of the case and in law, the Hon'ble ITAT is right in deleting penalty u/s 271(1)(C) on the issue of disallowance of interest income on FDR when it is not debatable issue that the interest earned is a revenue receipt and should have been included in the income of the assessee? (v) Whether on the facts and circumstances of the case, the order of the Appellate Tribunal is contrary to the evidence and material on the record of the case and further suffering from non-application of mind and is unreasonable and arbitrary and therefore, perverse." 4. A perusal of the order of the Tribunal (Annexure A-6) would go on to show that the....

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.... of exemption has not been granted. It is submitted that the assessment proceedings otherwise have been upheld till this Court in ITA Nos.147 to 150 of 2014, M/s. Punjab Heritage and Tourism Promotion Board, Chandigarh vs. Commissioner of Income Tax, Chandigarh decided on 28.07.2014 since the appeals were time barred. Accordingly the assessment order has been already upheld in the appeals filed against the order of the Tribunal by the assessee which had been decided on 22.08.2012 (Annexure A-3). 6. We have perused the paper book. It is not disputed that against the order dated 30.06.2008/02.07.2008 whereby exemption was granted under Section 12AA of the Act, the assessee had filed a rectification application. The rectification applicatio....

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....Income-tax Act, 1961 was passed by the undersigned on 30.6.2008 granting registration to the society from the A.Y 2009-10 as per the provisions of section 12A(2) of Income-tax Act, 1961. In the Act, there is no provision for granting registration retrospectively. As there was filing of fresh & correct application on 15.4.2008 i.e. FY 2008-09, the assessee was entitled for registration from A.Y 2009-10 only and registration u/s 12AA of the Income tax Act, 1961 was rightly granted to it from the A.Y 2009-10 as per provisions of section 12A (2) of Income-tax Act. There is no mistake apparent from record. The assessee's application for rectification of the above said order is thus rejected. Sd/- Commissioner of Income Tax-....