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II. Direct Tax Case laws:
1. Shree
Vile Parle Vardhman Sthanakvasi Jain Foundation Vs. Director of Income
Tax, ITA No. 7094 (MUM.) of 2012, Date of Order: 19.02.2014, ITAT-Mumbai
Where from
records it was evident that main and generic objects of Trust was
'education', being a charitable activity for general public utility and
where income and expenditure statement filed did not indicate spending
of same for objects narrated by Director (Exemption), registration of
Trust under section 12AA cannot be denied.
It was
discussed in Samaria Charitable Trust v. DIT (Exemption) vide ITA
No.7101 (M) of 2012 and another coordinate Bench decision in the case of
M. Star Charitable Society v. CIT [2013] 142 ITD 153(Coch.) regarding
the meaning of 'education' in the context of 'object of providing
coaching classes'. Providing tutorial or coaching classes to the working
students does not amount to commercial activity. 'Education' is a broad
and generic term and the same should be understood in the context of
the educational objects of the Trust.
(Please click here for judgment)
2. Rasalika
Trading & Investment Co. (P.) Ltd. Vs. Deputy Commissioner of
Income Tax, W.P.(C) NO. 1608 of 2013, Date of Decision: 14.02.2014 ,
High Court of Delhi
Held Yes
Where
Assessing Officer completed original assessment of assessee for
assessment year 2005-06 under section 143(3) on 24-12-2007 and
subsequently notice for reassessment on basis of investigation report
dated 13-3-2006 received from investigation wing, since reasons to
believe did not state that investigation report was not with Assessing
Officer when he completed original assessment. Whether attempt to reopen
assessment was result of a change of opinion.
(Please click here for judgment)
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