NAYA RAIPUR DEVELOPMENT AUTHORITY,RAIPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX (EXEMPTION), RAIPUR

The appeal of the assessee is allowed in terms of our aforesaid observations

Bench: Shri Ravish Sood & Shri Rathod Kamlesh Jayantbhaiआयकर अपील सं. / Ita No. 174 & 63/Rpr/2019 "नधा"रण वष" / Assessment Year(S) : 2012-13 & 2013-14 Naya Raipur Development Authority Prayavas Bhawan, North Block, Sector 19, Naya Raipur Marg, Naya Raipur, Atal Nagar(C.G.) Pin-492 002. Pan : Aaalc0225H .......अपीलाथ" / Appellant बनाम / V/S. The Deputy Commissioner Of Income Tax (Exemption) Raipur (C.G.) ……""यथ" / Respondent Assessee By : S/Shri S.R Rao & Rajesh Kumar Chawda, Ar’S. Revenue By : Shri P.K. Mishra, Cit-Dr सुनवाई क" तार"ख / Date Of Hearing : 09.06.2022 घोषणा क" तार"ख / Date Of Pronouncement : 02.09.2022

234, the Hon'ble Justice J. Baig speaking for the Apex Court thus said that: "If the profits must necessarily feed a charitable purpose, under the terms of the trust, the mere fact that the activities of the trust yield profit will not alter the charitable character of the trust. The test now is, more clearly than in the past

THE REDIANT WAY SCHOOL,RAIPUR (CG) vs. THE THE CHIF COMMISIONER OF INCOME TAX, RAIPUR (CG)

In the result, the appeal of assessee is allowed

section 10(22) is attracted to the facts of this case, when the income derived is solely from the educational institutions run by it, and the activities of the trust are not for profit. 6, We do not find anything in the decisions in Sole Trustee, Loka Shikshana Trust v. CIT [1975] 101 ITR 234 (SC), Addl CIT v. Surat

DY C.I.T..1(1), RAIPUR (CG) vs. M/S RAIPUR DEVELOPMENT AUTHORITY, RAIPUR (CG)

Accordingly, we uphold the order of the First Appellate Authority. Appeal dismissed

Bench: Shri N.K. Billaiya & Shri Ram Lal Negi)

234, the Hon’ble Justice J. Baig speaking for the Apex Court thus said that: " If the profits must necessarily feed a charitable purpose, under the terms of the trust, the mere fact that the activities of the trust yield profit will not alter the charitable character of the trust. The test now is, more clearly than in the past