DCIT, CIRCLE-1(1)-EXEMPTION, NEW DELHI vs. HAMDARD LABORATORIES (INDIA) , NEW DELHI
In the result, the appeal of the Revenue is dismissed
ITA 1311/DEL/2022[2016-17]Status: DisposedITAT Delhi27 Sept 2023AY 2016-17
Bench: Dr. Brr Kumar & Ms. Astha Chandraasstt. Year: 2016-17
For Appellant: Shri R.M. Mehta, CAFor Respondent: Shri T James Singson, CIT, DR
Section 10Section 11Section 12ASection 13(2)Section 13(2)(b)Section 13(3)Section 143(3)Section 250
assessee could be said to have been adequately compensated in the form of rent for the premises let out to the company. Under section 13(1)(c)(i) the benefit of exemption under section 11 is denied to an assessee who has used' or 'applied any part of the income ... property of the trust as there was no positive act on the part of the assessee in that regard. Therefore, the provisions of section 13(1)(c)(i) were not violated by the assessee-trust.
Section 13(2)(a), which had been applied by the assessing Officer, was also