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| The Tax Publishers2020 TaxPub(DT) 2483 (HP-HC) INCOME TAX ACT, 1961
Section 4 read with Section 2(24)
Following PCIT v. H.P. Excise & Taxation Technical Service Agency and other connected cases, Tribunal was justified in holding that income of the assessee, which was paid to Government treasury, as per bye-laws of assessee society, was not taxable even though assessee was not registered under section 12AA.
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Income - Chargeability - Surplus of assessee-society, whether belonged to State Government as same was deposited in Government Treasury or same was profit earned by assessee -
Issue arose as to whether Tribunal was right in holding that income of the assessee, which was paid to Government as per bye laws of the assessee society, was not taxable, inspite of fact that assessee debited such payment to its profit and loss account and claimed it as a revenue expenditure though assessee was not registered under section 12AA and its income was not exempt. Held: Identical question came up for consideration in a bunch of appeals before Court in ITA No. 85 of 2018 : 2018 TaxPub(DT) 7831 (HP-HC), titled as Pr. CIT, Shimla v. H.P. Excise & Taxation Technical Service Agency and other connected cases, and same was answered against revenue. Thus, following same, instant appeal was dismissed accordingly.
Followed:PCIT v. H.P. Excise & Taxation Technical Service Agency and other connected cases 2018 TaxPub(DT) 7831 (HP-HC)
REFERRED :
FAVOUR : In assessee's favour
A.Y. :
IN THE HIMACHAL PRADESH HIGH COURT
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