ITO(EXCEMPTION) TRICHY, TRICHY vs. GRAMA VIDIYAL TRUST, TRICHY
In the result, both ITA No
ITA 1535/CHNY/2019[2011-12]Status: DisposedITAT Chennai24 Aug 2022AY 2011-12
Bench: Shri Veeravalli Durga Rao, Jm & Shri Girish Agrawalita Nos.1534 & 1535/Chny/2019 Assessment Years: 2009-10 & 2011-12 Income-Tax Officer, Grama Vidiyal Trust, (Exemptions), Trichy Vs. No. 44, Williams Road, Cantonment, Trichy-620001 (Pan: Aaatg2928F) (Appellant) (Respondent) Present For: Appellant By : Shri N. V. Balaji, Advocate Respondent By : Shri Arv. Sreenivasan, Addl. Cit Date Of Hearing : 31.05.2022 Date Of Pronouncement : 24.08.2022 O R D E R Per Girish Agrawal: Both These Appeals By Revenue Are Directed Against The Separate Orders Of Ld. Cit(A)-1, Trichy Vide Ita No. 156/2017-18/Cit(A)-1/Try Dated 04.03.2019 & 163/2017-18/Cit(A)-1/Try Dated 22.02.2019 Against The Separate Orders Of Ld. Ito, Exemptions Ward, Trichy, Passed U/S 143(3) R.W.S. 254 Of The Income-Tax Act,1961 (Hereinafter Referred To As The Act), Both Dated 30.12.2017 For Ays 2009-10 & 2011-12. 2. First We Take Up Ita No. 1534/Chny/2019 For Ay 2009-10 For Which The Revised Ground Taken By The Revenue Is As Under:
For Appellant: Shri N. V. Balaji, AdvocateFor Respondent: Shri ARV. Sreenivasan, Addl. CIT
Section 11Section 143(3)Section 2(15)
24)(iia) of the Act it forms the part of the corpus fund of the Grama Vidiyal Trust, A.Ys: 2009-10 & 2011-12
Trust and it is a capital receipt. In the present case, .since we have observed that assessee is not a charitable trust, it is engaged in the commercial activity and is not entitled for exemption u/s.11
