APEX FOUNDATION,PANASAPADU vs. THE COMMISSIONER OF INCOME TAX (EXEMPTIONS), HYDERABAD
In the result, appeal filed by the assessee is allowed
ITA 653/VIZ/2019[2019-2020]Status: DisposedITAT Visakhapatnam08 Apr 2022AY 2019-2020
Bench: Shri Duvvuru Rl Reddy, Hon’Ble & Shri S Balakrishnan, Hon’Bleआयकर अऩीऱ सं./ I.T.A. No.653/Viz/2019 (ननधधारण वषा / Assessment Year :Na) Apex Foundation, Vs. The Commissioner Of Income Kakinada. Tax (Exemptions), Pan: Aagta 1866 Q Hyderabad. (अऩीऱधथी/ Appellant) (प्रत्यथी/ Respondent) अऩीऱधथी की ओर से/ Appellant By : Sri G.V.N. Hari प्रत्यधथी की ओर से / Respondent By : Sri Mn Murthy Naik, Cit-Dr
For Appellant: Sri G.V.N. HariFor Respondent: Sri MN Murthy Naik, CIT-DR
Section 12ASection 13Section 135
10A filed by the above applicant is hereby rejected.”
4.1. Being aggrieved by the order of the Ld. CIT(E), the assessee is in appeal before us.
5. The Ld. AR submitted that as per the Companies Act, 2013
wherein under section 135 of the Act, the companies are allowed to set up a Trust to carry out CSR activities