“Section 15(2)”

VISVESVARAYA TECHNOLOGICAL UNIVERSITY,BELGAUM vs. CIT, BANGALORE

Bench: Shri.Chandra Poojari & Smt. Beena Pillaiassessment Year : N.A. Visvesvaraya Technological University, The Commissioner Of Jnana Ganga Campus, Vs. Income-Tax (Exemptions), Belagavi. Bengaluru. Pan : Aaajv 0064 F Appellant Respondent : Shri. M.V. Seshachala, Sr. Standing Assessee By Counsel & Shri Shiva Prasad Reddy, I.T.P Revenue By : Shri Dilip, Standing Counsel Date Of Hearing : 15.09.2022 Date Of Pronouncement : 25.11.2022 O R D E R Per Beena Pillaipresent Appeal Arises Out Of Order Dated 28/01/2021, Passed By Hon’Ble Karnataka High Court In Ita No.825/2018. Brief Facts Of The Case Are As Under: 2. In The First Round Of Appeal The Assessee Raised Following Grounds Before This Tribunal Against Order Passed By The Ld.Cit(E), Dated 08/12/2015: 1. The Impugned Order Passed By The Learned Commissioner Of Income- Tax (Exemptions), Bengaluru [Hereinafter Referred To As The Cit(E)] Under Section 12A Of Income-Tax Act, 1961 (Hereinafter Referred To As The I-T Act), To The Extent It Is Not Retrospective In Effect, Is Arbitrary, Erroneous, Unreasonable & Opposed To The Facts & Circumstances Of The Case & The Law.

IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH : BANGALORE BEFORE SHRI.CHANDRA POOJARI, ACCOUNTANT MEMBER AND SMT. BEENA PILLAI, JUDICIAL MEMBER