BARODA CRICKET ASSOCIATION,,VADODARA vs. THE DY.CIT, (EXEMPTION), CIRCLE-5., AHMEDABAD

By way of this appeal, the assessee appellant has challenged correctness of the order dated 16th February 2016 passed by the Commissioner of Income Tax, in exercise of his powers under section 263 r.w.s. 143(3) of the Income Tax Act, 1961, for the assessment year 2009-10. 2. Grievance of the assessee, in substance, is that, on the facts and in the circumstances of the case, learned Commissioner erred in law and on facts in assuming jurisdiction under section 263 and in directing the Assessing Officer to consider the accumulated income of Rs 1,00,00,000 and Rs 60,00,000 for the assessment years 2007-08 and 2008-09 respectively and the amount of Rs 14,97,06,406 received as corpus donation which was stated to be in nature of voluntary donations. 3. To adjudicate on this appeal, it is sufficient to take note of the fact that vide our order dated 24th January, 2019, in assessee’s own case, these issues, which are foundational to the revision proceedings, have been decided in favour of the assessee. There is, as such, no question of the related assessment order under section 143(3), which is subjected to revision proceedings, being held to be erroneous and prejudicial to the interest of the revenue. Learned representatives had fairly agreed