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| The Tax Publishers2020 TaxPub(DT) 0259 (Del-HC) INCOME TAX ACT, 1961
Section 2(15) read with 10(23C)
Since Court in both its previous orders, i.e., CIT v. GS1 India (ITA 691 of 2017, decided on 16-2-2018) and GS1 India v. DGIT (W.P.(C) No. 7797 of 2009, dt. 26-9-2013), held that, assessee was entitled to benefit under section 10(23C)(iv) and also for its registration under section 12AA(1), thus, no substantial question of law arose for consideration.
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Charitable trusts - Exemption under section 10(23C) - Charitable objective vis-Ã -vis profit motive -
Revenue challenged order of Tribunal holding that assessee was a charitable trust, and therefore, be treated under section 2(15) read with section 10(23C)(iv) of the Income Tax Act, 1961. Held: Tribunal relied upon the decision of Court in another case of assessee in CIT v. GS1 India (ITA 691 of 2017, decided on 16-2-2018). Court noticed that same issue for another assessment year was held in favour of the assessee and against the revenue (in case of GS1 India (supra). Court in both its previous orders held that, assessee was entitled to benefit under section 10(23C)(iv) and also for its registration under section 12AA(1). Thus, no substantial question of law arose for consideration.
Followed:CIT v. GS1 India (ITA 691 of 2017, decided on 16-2-2018)
REFERRED :
FAVOUR : In assessee's favour
A.Y. :
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