2025 (1) TMI 1839

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....ssed u/s.143(3) for the A.Y.2017-18 and 2018-19. 2. In the grounds of appeal, the Revenue has challenged that ld. CIT (A) has erred in granting exemption u/s.11 to the assessee on various grounds:- "1. On the facts and circumstances of the case and in law, the learned Commissioner of Income Tax (Appeal) has erred in granting exemption u/s 11 of the Act to the assessee without appreciating that the assessee had not filed the Form No. 10B within the specified due date prescribed for furnishing return of Income u/s 139(4A) of the Income Tax Act, 1961? 2. On the facts and circumstances of the case and in law, the learned Commissioner of Income Tax (Appeal) has erred in granting exemption u/s 11 of the Act to the assessee wh....

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....f the assessee are held to be covered under residuary part section 2(15) as "advancement of any other object of general public utility" even then it is not entitled to exemption u/s 11 because it is hit by the proviso to section 2(15) as the income of the assessee consist of activities which are in the nature of trade, commerce or business as laid down by the Hon'ble Supreme Court in Civil Appeal No. 21762 of 2017 in various batch of appeal and SLP's (lead case in ACIT (Exemption) Vs. Ahmedabad Urban Development Authority [2022] 143 taxmann.com 278(SC)]?" 3. Whereas in the Cross Objection the assessee has stated that firstly, ld. CIT(A) has rightly allowed the benefit of exemption u/s.11 and also stated that assessee is anyway no....

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.... under:- "(26AAB) any income of an agricultural produce market committee or board constituted under any law for the time being in force for the purpose of regulating the marketing of agricultural produce" 6. Thus, any income of agricultural produce market committee or board were held to be non-taxable, i.e., while computing the total income, the same shall not be included in the total income. Once the entire income of the agricultural produce market committee or board is not included in the computation of total income u/s.10(26AAB), then whether assessee earlier had the registration y/s 12A prior to 01/04/2009 or was granted benefit u/s.11, then there is no relevance to invoke provision of Section 11 to 13. The Registration u/s.12A ha....