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The Commissioner Of Income Tax, ... vs M/S Krishi Utpadan Mandi Samiti, ... on 27 January, 2010
cites
Secretary, M/S. Krishi Utpadan Mandi ... vs Department Of Income Tax on 31 January, 2007
Admittedly, the Income Tax Appellate Tribunal in the case of Krishi Utpadan
Mandi Samiti, Kanpur & others vs. Commissioner of Income Tax vide its
order dated 28.02.2007 (Income Tax Appeal No.1205, 1257 to 1264/
Lue/2006) has granted the status of Charitable Institution to these Samities
(Assessee). The said order was challenged before this Court. This Court vide
its order dated 02.12.2009 in Income Tax Appeal Nos.
The Commissioner Of Income Tax, ... vs M/S Krishi Utpadan Mandi Samiti, ... on 25 January, 2010
80-83 of 2007 (C.I.T.
Vs. Krishi Utpadan Mandi Samiti, Lucknow & Ors.), upheld the orders of the
Tribunal in other words, these Institutions were accepted by this Court as
Charitable Institution for the assessment year in 2003-04 and subsequent
assessment years including the assessment years under consideration. Once,
these assessee are declared "Charitable Institutions", their income is exempted
from Income Tax. When income is exempted then there is no justification to
make additions and the same are likely to be deleted. The Tribunal has
already deleted these additionsl by treating the assessees as "Charitable
Institutions". No interference is required in the impugned order in view of
the order passed by this Court (supra).
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