The Ajay G. Piramal Foundation, New Delhi V. CIT (Exemptions), New Delhi

ITA 4037/DEL/2015

• Counselvise Citation: [2018] 125 COUNSELVISE.COM (IT) 0873 (ITAT-DELHI)
• Duration Of Justice: 3 year(s) 2 month(s) 24 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 11-09-2018
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: I
• Assessment Year: misc
• Appeal Filed On: 17-06-2015
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Department Lawyers: S S RANA
• Assessee Lawyers: ANKIT B AGGARWAL
• Section: 12A; 12AA; 11

Judgement Text

1 ITA NO. 4037/DEL/2015 IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH: G NEW DELHI BEFORE SHRI R. K. PANDA, ACCOUNTANT MEM BER AND MS SUCHITRA KAMBLE, JUDI CIAL MEMBER ITA NO. 4037/DEL/2015 ( A.Y 2008-09 ) THE AJAY G. PIRAMAL FOUNDATION 320, TOWER-B, DLF TOWER, JASOLA NEW DELHI AABTT21789N (APPELLANT) VS CIT (EXEMPTIONS) PRATYAKSH KAR BHAWAN, 26 TH FLOOR, E-2 BLOCK CIVIC CENTRE, J. L. N MARG, NEW DELHI (RESPONDENT) APPELLANT BY SH. ANKIT B. AGGARWAL, CA RESPONDENT BY SH. S. S. RANA, CIT DR ORDER PER SUCHITRA KAMBLE, JM THIS APPEAL IS FILED BY THE ASSESSEE AGAINST THE OR DER DATED 24/4/2015 PASSED BY CIT(EXEMPTIONS)- NEW DELHI FOR A.Y 2008-0 9. 2. THE LD. AR SUBMITTED THAT THE ASSESSEE TRUST WAS INCORPORATED ON JULY 30, 2005 WITH AN OBJECT OF PROVIDING BENEFITS OF HE ALTHCARE, EDUCATION, LIVELIHOOD, RURAL EMPOWERMENT AND LEADERSHIP. THE ASSESSEE WAS REGISTERED U/S 12A READ WITH SECTION 12AA VIDE CERTIFICATE DAT ED JANUARY 31, 2006. THE ASSESSEE HAS NOT CLAIMED EXEMPTION U/S 11 OF THE AC T FOR AY 2008-09 ONWARDS AS THE ASSESSEE HELD CERTAIN INVESTMENTS WHICH ARE NOT PERMISSIBLE U/S 11 SUB-SECTION (5) OF THE ACT AND CONSEQUENTLY INELIGI BLE AS PER PROVISO (IIA), CLAUSE (III) OF SECTION 13 (1) (D) OF THE ACT. SUBSEQUENT LY, IN VIEW OF INSERTION OF SECTION DATE OF HEARING 11.09.2018 DATE OF PRONOUNCEMENT 11.09.2018 2 ITA NO. 4037/DEL/2015 12AA (4) OF THE ACT W.E.F. OCTOBER 1, 2014 VIDE FIN ANCE ACT, 2014, THE ASSESSEE TRUST SUO MOTO SURRENDERED ITS REGISTRATION U/S 12A /12AA VIDE LETTER DATED OCTOBER 6, 2014 PROSPECTIVELY. HOWEVER, THE CIT(E) CANCELLED ASSESSEE TRUST REGISTRATION U/S 12A/12AA RETROSPECTIVELY FROM ASSE SSMENT YEAR 2008-09 ONWARDS. THE ASSESSEE FILED THE PRESENT APPEAL AGA INST THE SAID ORDER ON THE LIMITED ISSUE THAT CANCELLATION CANNOT BE DONE RETR OSPECTIVELY BUT HAS TO BE DONE PROSPECTIVELY. HOWEVER, AS THE ASSESSEE TRUST ITSELF HAS NOT CLAIMED ANY EXEMPTION U/S 11 FROM A.Y. 2008-09 ONWARDS, THE ISS UE IS MERELY ACADEMIC IN NATURE. THEREFORE, THOUGH THE ASSESSEE STILL BELIE VES THAT THE ACTION OF THE CIT(E) OF RETROSPECTIVE CANCELLATION OF REGISTRATIO N U/S 12A/12AA IS BAD IN LAW BUT DUE TO ACADEMIC NATURE OF THE LITIGATION AND IN ORDER TO SAVE COST AND TIME OF ALL STAKEHOLDERS, THE ASSESSEE IS WITHDRAWING TH E PRESENT APPEAL. THE LD. AR HOWEVER, SUBMITTED THAT THE SAME SHALL NOT BE CO NSTRUED AS ASSESSEES ACQUIESCENCE OF THE SAID RETROSPECTIVE CANCELLATION . THUS, THE LD. AR REQUESTED THAT THE ASSESSEE BE ALLOWED TO WITHDRAW THE APPEAL BY SUBMITTING LETTER DATED 11/9/2018 BEFORE THE BENCH. 3. THE LD. DR HAS NOT OBJECTED TO THE SAID WITHDR AWAL OF APPEAL BY THE ASSESSEE. 4. WE HAVE HEARD BOTH THE PARTIES AND PERUSED THE L ETTER DATED 11/9/2018 SUBMITTED BY THE LD. AR BEFORE US WHICH IS TAKEN ON RECORD. ACCORDINGLY IN VIEW OF THE ABOVE FACTUAL MATRIX, THE APPEAL OF THE ASSESSEE IS DISMISSED AS WITHDRAWN. 5. IN RESULT, APPEAL OF THE ASSESSEE IS DISMISSED A S WITHDRAWN. ORDER PRONOUNCED IN THE OPEN COURT ON 11 TH SEPTEMBER, 2018. SD/- SD/- (R. K. PANDA) (SUCHITRA KAMBLE) ACCOUNTANT MEMBER JUDICIAL MEM BER 3 ITA NO. 4037/DEL/2015 DATED: 11/09/2018 *R.N COPY FORWARDED TO: 1. APPELLANT 2. RESPONDENT 3. CIT 4. CIT(APPEALS) 5. DR: ITAT ASSISTANT REGISTRAR ITAT NEW DELHI DATE OF DICTATION 11.09.2018 DATE ON WHICH THE TYPED DRAFT IS PLACED BEFORE THE DICTATING MEMBER 11.09.2018 DATE ON WHICH THE TYPED DRAFT IS PLACED BEFORE THE OTHER MEMBER DATE ON WHICH THE APPROVED DRAFT COMES TO THE SR. P S/PS DATE ON WHICH THE FAIR ORDER IS PLACED BEFORE THE D ICTATING MEMBER FOR PRONOUNCEMENT DATE ON WHICH THE FAIR ORDER COMES BACK TO THE SR. PS/PS 11.09.2018 DATE ON WHICH THE FINAL ORDER IS UPLOADED ON THE WE BSITE OF ITAT 11.09.2018 DATE ON WHICH THE FILE GOES TO THE BENCH CLERK 11.0 9.2018 DATE ON WHICH THE FILE GOES TO THE HEAD CLERK THE DATE ON WHICH THE FILE GOES TO THE ASSISTANT RE GISTRAR FOR SIGNATURE ON THE ORDER DATE OF DISPATCH OF THE ORDER