2025 (10) TMI 1417

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.... under the U.P. Urban Planning and Development Act, 1973 for the purpose of planning, development or improvement of cities, towns and villages, within the notified area of Hapur. Return of Income for the assessment year under consideration was filed by the appellant on 14.10.2016 at an income of Rs. NIL (Loss of Rs. 5,88,74,151/-) claiming benefit of section 11 of the Act. The case of the Assessee was selected for scrutiny. The assessment proceedings were concluded vide assessment order dated 28.12.2018 at a loss of Rs 5,88,74,151/- wherein benefit of section 11 of the Act was denied by the A.O. as per the amended provisions of section 2(15) of the Income Tax Act, 1961 ('Act' for short) vide order dated 28/12/2018. As against the as....

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....d. Counsel for the assessee submitted that on the first issue viz. activity of assessee/ development authority u/s 2(15) of the Act is concerned, this issue is squarely covered by the decision of the Tribunal in assessee's own case in ITA No. 4125/Del/2017 vide order dated 04.02.2022 relevant to assessment year 2012-13 wherein, the Tribunal relied upon the earlier decision in assessee's own case in ITA No. 1384 to 1386/2016 dated 6.6.2018 for assessment years 2009-10 to 2011-12, which 4 has been approved by the Hon'ble High Court. It is further submitted that recently in two decisions of the Coordinate Bench the present issue is fully covered by the decision of the ITAT, Delhi 'E' Bench in the case of DCIT vs. Meerut Development Authority I....

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.... perused the records. As regards the issue of activity of assessee/ development authority u/s 2(15) of the Act is concerned, we note that this issue is squarely covered by the decision of the Tribunal in assessee's own case in ITA No. 4125/Del/2017 vide order dated 04.02.2022 relevant to assessment year 2012-13 wherein, the Tribunal relied upon the earlier decision in assessee's own case in ITA No. 1384 to 1386/2016 dated 6.6.2018 for assessment years 2009-10 to 2011-12, which has been approved by the Hon'ble High Court. The relevant findings of the Tribunal in its order dated 04.02.2022 are as under:- "8. At the very outset, Id. AR for the assessee contended that this issue is covered in favour of the assessee by virtue of the ord....

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....he Tribunal in Moradabad Development Authority vs. ACIT (Exemption), vide order dated 4.1.2018 in ITA No. 4631 and 4632/Del/2017, dealt with the case of an Authority working in the same way as the assessee in question and held that the benefit of exemption under section 11 cannot be denied. In reaching this conclusion, the Tribunal considered the relevant judgments on the point and eventually held that the case is covered by the judgment of Hon'ble Jurisdictional High Court in the case of Yamuna Express way Industrial Development Authority (supra). A copy of such order has been placed on record in which the relevant discussion has been made from pages 2 to 7 of the order. Since the facts and circumstances of the instant case are mutatis....