COMMISSIONER OF INCOME TAX(EXEMPTION) vs. KIIT-TECHNOLOGY BUSINESS INCUBATOR(KIIT TBI)

The appeals are dismissed and substantial questions

Bench: MR. JUSTICE K. S. JHAVERI (CJ),MR. JUSTICE K.R.MOHAPATRA

5 the activity of the assessee was neither genuine nor in accordance to the stated objective of the Trust. The assessee submitted its reply dated 16th November, 2015 stating that the show cause notice has proposed to cancel the registration on the basis of the finding made by the assessing officer in the assessment order for the assessment year