SOCIETY FOR ECONOMIC DEVELOPMENT ,HYDERABAD vs. COMMISSIONER OF INCOME TAX (EXEMPTION), HYDERABAD
In the result, the appeal filed by the assessee is allowed for
ITA 1825/HYD/2019[NA]Status: DisposedITAT Hyderabad06 Sept 2022
Bench: Shri Rama Kanta Panda & Shri Laliet Kumarm/S. Society For Economic Vs. Cit(E) Development 2Nd Floor(Annexe) 504, Sahithi Aracade, Aaykar Bhawan Besides S.R.Nagar Police Basheerbagh Station, Sanjeeva Reddy Hyderabad-500 004 Nagar, Hyderabad-500 038 Pan : Aakas3955M (Appellant) (Respondent) Assessee By: Shri Narayana, P.S., Ca Revenue By: Shri Solgy Josat Kottaram,Cit-Dr Date Of Hearing: 04.08.2022 Date Of Pronouncement: 06.09.2022
For Appellant: Shri Narayana, P.S., CAFor Respondent: Shri Solgy Josat
Section 12ASection 13Section 17Section 2(15)
section 40(b) of the I.T. Act.
10. So far as the MoU with business entities is concerned, he
submitted that there is no element of business in it. He submitted
that the assessee entered into MoU with other entities like
Brihaspathi Educational Societies, Mythri Enterprises etc., to get
eligibility to apply for the schemes of the govt. After allotment