The Tax Publishers2021 TaxPub(DT) 0381 (Guj-HC)

INCOME TAX ACT, 1961

Section 11

Appeal was admitted on the substantial questions of law viz. whether assessee is covered under the proviso to section 2(15) read with section 13(8) and whether Tribunal was justified in allowing benefit of sections 11 and 12 and also allowing loss on sale of assets. Direction was issued as to matter to be heard along with the Tax Appeal No. 379 of 2020.

Charitable trust - Exemption under section 11 - Applicability of proviso to section 2(15) -

Issue arose for consideration as to whether Appellate Tribunal was justified in allowing the benefit of sections 11 and 12 to assessee by confirming the decision of CIT(A) without appreciating that the assessee is covered under the proviso to Section 2(15), i.e., the advancement of any other object of general public utility. Held: Appeal admitted was on the substantial questions of law viz. whether assessee is covered under the proviso to section 2(15) read with section 13(8) and whether Tribunal was justified in allowing benefit of sections 11 and 12 and also allowing loss on sale of assets. Direction was issued as to matter to be heard along with the Tax Appeal No. 379 of 2020.

REFERRED :

FAVOUR : Appeal admitted

A.Y. :



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