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Income Tax Appellate Tribunal, CUTTACK BENCH, CUTTACK
Before: S/SHRI P.M. JAGTAP & C.M. GARG
per the direction of the Tribunal, the AO has already verified and while
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M/s. Orissa Computer Academy
passing appeal effect order dated 24.1.2019, has accepted the claim of the
assessee. Hence, the appeal for the assessment year 2010-2011 is
dismissed.
Coming to assessment years 2013-14 & 2014-15, there are two
issues involved i.e. disallowance of exemption u/s.11 & 12 of the Act and
violation of section 13 on the loan to Krupajala Trust.
The CIT (A) following the order of this Tribunal has allowed the
exemption u/s.11 & 12 of the Act. Further, following the order of the
Hon’ble Delhi High Court in the case of DIT (Exemptions) vs Alarippu, 244
ITR 146(Del) and DIT (Exemptions) vs Acme Educational Society, 326 ITR
146 (Del) has held that the loan given by one charitable society to another
society having similar objects cannot be treated as either an investment or
a deposit so as to attract the mischief of section 13(1)(d) read with section
11(5) of the Act and following the same, the ld CIT(A) held that there is no
violation of section 13 of the Act to deny exemption u/s.11 of the Act.
During the course of hearing, learned representatives of both parties
have agreed that the issue is covered by the decision of Hon’ble Delhi High
Court and the decision of this Bench in assessee;’s own case (supra).
Hence, we dismiss the appeals filed by the revenue for assessment year
2013-14 & 2014-15.
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M/s. Orissa Computer Academy
The cross objections filed by the assessee are in support of the order
of the ld CIT(A). Since, we have dismissed the appeals of the revenue,
cross objections have become infructuous and hence, dismissed.
In the result, appeals filed by the revenue and cross objections of the
assessee are dismissed.
Order pronounced on 28/1/2021.
Sd/- sd/- (C.M. Garg) (P.M. Jagtap) JUDICIAL MEMBER VICE PRESIDENT Cuttack; Dated 28 /1/2021 B.K.Parida, SPS (OS) Copy of the Order forwarded to : 1. The assessee : M/s. Orissa Computer Academy, Prasanti Vihar, Pubasasana, Kausalya Ganga, Bhubaneswar
The Revenue: DCIT (Exemptions), Bhubaneswar. 3. The CIT(A)-1, Bhubaneswar 4. Pr.CIT-1 , Bhubaneswar 5. DR, ITAT, Cuttack 6. Guard file. //True Copy// By order
Sr.Pvt.secretary ITAT, Cuttack
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