DURGAPUR SOCIETY OF MANAGEMENT SCIENCE,DURGAPUR vs. ITO, CIR-2, EXEMPT, KOL. , KOLKATA
In the result, appeal of the assessee is allowed
ITA 498/KOL/2023[2018-19]Status: DisposedITAT Kolkata01 Dec 2023AY 2018-19
Bench: Shri Sanjay Garg, Hon’Ble & Dr. Manish Borad, Hon’Blei.T.A. No. 498/Kol/2023 Assessment Year: 2018-19 Durgapur Society Of Management Income Tax Officer, Circle-2, Science Vs Exempt, Kolkata Dr. Zakir Hussain Avenue Hudco More Bidhannager Durgapur - 713206 [Pan : Aaatd7804P] अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee By : Shri Sunil Surana, A.R. Revenue By : Shri Abhijit Kundu, Cit, D/R सुनवाई क" तारीख/Date Of Hearing : 06/09/2023 घोषणा क" तारीख /Date Of Pronouncement: 01/12/2023 आदेश/O R D E R Per Dr. Manish Borad: The Present Appeal Is Directed At The Instance Of The Assessee Against The Order Of The Commissioner Of Income Tax (Exemption) (Hereinafter The “Ld. Cit(E)”) Dt. 21/03/2023, Passed U/S 263 Of The Income Tax Act, 1961 (“The Act”) For The Assessment Year 2018-19. 2. The Assessee Has Raised The Following Grounds Of Appeal:- “1. For That The Ld Pcit Erred In Setting Aside The Order In The Light Of The Judgement Of The Hon'Ble Apex Court In The Case Of New Noble Educational Society Pronounced On 19Th Oct, 2022 When The Judgement Itself Clearly Stated That It Should Be Applied Prospectively & Therefore The Order Of The Pcit Should Be Quashed Since The Order Passed By The Ao Was Neither Erroneous Nor Prejudicial To The Interests Of Revenue. 2. For That The Ld Pcit Erred In Holding That The Rent Received From The Building Which Was Let Out Since Lying Idle For Some Period Constituted Income From Business When The Objects The Predominant Object Of The Society Was Providing Education & 2
For Appellant: Shri Sunil Surana, A.RFor Respondent: Shri Abhijit Kundu, CIT, D/R
Section 10Section 11(5)Section 142(1)Section 143(3)Section 263
House Property.
6. For that even otherwise the income could be computed separately since the rental income was separately ascertainable.
7. For that on the facts and circumstances of the case, the order of the Ld PCIT is liable to be set aside.”
3. Thought the assessee has raised various grounds of appeal, the sole grievance of the assessee
