Mool Chand Khairati Ram Trust vs Director Of Income Tax … on 27 July, 2015

1. The Appellant, a Charitable Trust, has preferred the present appeal

under Section 260A of the Income Tax Act, 1961 (hereafter the ‘Act’)

impugning the order dated 3rd February, 2012 passed by the Income Tax

Appellate Tribunal (hereafter the ‘Tribunal’) in ITA No. 5681/DEL/2010.

2. By the impugned order, the Tribunal allowed the appeal filed by the

Revenue assailing the order of the Commissioner of Income Tax (Appeals),

which in turn had allowed the appeal preferred by the Assessee against the

assessment order dated 30th December, 2008 passed in respect of the

Assessment Year 2006-07. The Assessing Officer (hereafter ‘AO’) had

denied the exemption claimed by the Appellant (hereafter the ‘Assessee’)

under Section 11 and 12 of the Act as the AO was of the view that the

activities of the Assessee were not in accordance with its objects. In

addition, the AO also denied the Assessee’s claim for depreciation on assets

purchased by the Assessee by application of its income that was exempt

under Section 11 of the Act.

Source: Indian Kanoon

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