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1 - 7 of 7 (0.20 seconds)The Income Tax Act, 1961
New Life In Christ Evangelistic ... vs Commissioner Of Income-Tax And Anr. on 4 August, 1998
During arguments, the learned counsel for the assessee
invited our attention to the case of Maharashtra Housing &
Area Development Authority wherein registration was granted.
The learned CIT-Departmental Representative contended that in
the case of Market Committee, the ownership remains with the
committee but in the case of the assessee it goes to individual
and the learned CIT was not satisfied with the explanation of
the assessee. Likewise in the judicial pronouncements in New
Life in Christ Evangelistic Association (NLC) vs. CIT (2001) 165
CTR (Mad) 446 : (2000) 246 ITR 532 (Mad) as relied by the
assessee, it can be said that it is a religious trust, so not
applicable to the present facts as the assessee is auctioning
the plots on huge profits and even the Hon'ble Courts are
intervening to enhance compensation on petitions filed by land
owners. However, if the argument of the assessee is analysed
on point of general public utility, still it can be said that
commercial angle with profit motive is involved which has
become predominant object of the assessee.
Punjab Urban Planning And Development ... vs Commissioner Of Income Tax on 1 June, 2006
5. The learned D.R. relied upon the order of the Punjab
Urban Planning & Development Authority (supra) and prayed
that the order of the learned Commissioner of Income Tax
rejecting the application of the assessee for grant of
registration under section 12A(a) of the Act may be confirmed.
Section 12AA in The Income Tax Act, 1961 [Entire Act]
Fifth Generation Education Society vs Commissioner Income-Tax on 10 May, 1990
Even if this issue is
analysed as contended by the learned counsel for the assessee
that application of income is not the criteria in the light of the
decision of Hon'ble High Court of Allahabad in the case of Fifth
Generation Education Society vs. CIT (1990) 87 CTR (All) 169 :
Bihar State Forest Development ... vs Commissioner Of Income-Tax on 26 September, 1996
"In view of these facts and judicial pronouncements, we are
supposed to see the predominant object of the assessee. If all
the objects and activities actually carried out by the assessee
are analysed and kept in juxtaposition with the aforesaid
judicial pronouncements, we are of the view that activities of the
assessee are more of commercial nature with profit-oriented
intent, so rid leniency should be shown to the assessee. The
Department may also get support from the decision of the
Hon'ble Patna High Court as pronounced in the case of Bihar
State Forest Development Corporation vs. CIT (1997) 224 ITR
757 (Pat) where the Government company was formed for
promotion and development of forestry. The assessee-
corporation was permitted under memorandum of association
to engage in commercial activities and there was no restriction
on application of money, the corporation was not held to be a
charitable trust and consequently not entitled to exemption.
Similar is the case in the present appeal of the assessee.
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