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1 - 5 of 5 (0.20 seconds)Delhi Music Society vs Director General Of Income Tax on 16 December, 2011
13. He stated that even corporate donation of Rs. 64,53,568/- was
treated by the AO as business income in its computation of income.
The learned Counsel for the assessee mainly argued that once the
assessee is set up for the purpose of donation, the exemption under
section 11 of the Act cannot be denied and this view is supported by
the decision of Hon'ble Delhi High Court in the case of Delhi Music
Society vs. Director General of Income-tax (2013) 357 ITR 265
(Delhi) and Bombay High Court in the case of Director of Income-tax
vs. National Safety Council (2008) 305 ITR 257 (Bombay).
Commissioner Of Income-Tax vs Shri Thyaga Brahma Gana Sabha (Regd) on 14 June, 1990
16. As regards to the other incomes, the learned Counsel for the
assessee relied on the decision of Hon'ble Madras High court in the
case of CIT vs. Sri Thyaga Brahma Gana Sabha (Regd.) (1991) 188
ITR 160 (Madras), wherein it is held that the assessee is owner of
hall and deriving income from letting out the same, though the
objects of the assessee was not to earn profit by letting out wholly,
since the profits were utilized for the purpose of charity, the
assessee is entitled to earn exemption under section 11 read with
section 2(15) of the Act. We find that this issue in the given facts
and circumstances is covered in favour of assessee and hence,
respectfully following the decision of Hon'ble Delhi High Court, we
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ITA No . 76 0 8/ Mu m/ 20 1 6
are of the view that the assessee trust is running the education
institute, which is within the purview of section 11 of the Act and
assessee is entitled for the exemption. We allow the appeal of the
assessee.
Section 8 in The Income Tax Act, 1961 [Entire Act]
Section 12A in The Income Tax Act, 1961 [Entire Act]
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