ITO -E (2)(4), MUMBAI V. INDO ITALIAN CHAMBER OF COMMERCE & INDUSTRY, MUMBAI

ITA 6237/MUM/2019

• Counselvise Citation: [2021] 108 COUNSELVISE.COM (IT) 2429 (ITAT-MUMBAI)
• Duration Of Justice: 1 year(s) 8 month(s) 21 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 22-06-2021
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: C
• Assessment Year: 2009-2010
• Appeal Filed On: 01-10-2019
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Keywords: Charitable institution; Competent authority; Set aside
• Section: 143(3); 12A; 13; 22; 11

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL , C MUMBAI BEFORE : SHRI MAHAVIR SINGH, VP & SHRI M.BALAGANESH, AM ITA NO. 6237/MUM/2019 ( ASSESSMENT YEAR : 2009 - 10 ) ITO - E (2)(4) 503, 5 TH FLOOR PIRAMAL CHAMBERS LALBAUG, PAREL MUMBAI - 400 012 VS . INDO ITALIAN CHAMBER OF COMMERCE & INDUSTRY 502, BENGAL INDUSTRY COMPOUND VEER SAVARKAR MARG, PRABHADEVI MUMBAI - 400 025 PAN/GIR NO. AABCT1939R (APPELLANT ) .. (RESPONDENT ) REVENUE BY MS. SHREEKALA PARDESHI ASSESSEE BY NONE DATE OF HEARING 14 / 0 6 /202 1 DATE OF PRONOUNCEMENT 22 / 06 /202 1 / O R D E R PER M.BALAGANESH (AM): THIS APPEAL IN ITA NO. 6237/MUM/2019 FOR A.Y. 2009 - 10 ARISES OUT OF THE ORDER BY THE LD. COMMISSIONER OF INCOME TAX (APPEALS) - 1, MUMBAI IN APPEAL NO. CIT(A) - 1/72/ADI T(E) - 2(1) DATED 29/07/2019 (LD. CIT(A) IN SHORT) AGAINST THE ORDER OF ASSESSMENT PASSED U/S.143(3) OF THE INCOME TAX ACT, 1961 (HEREINAFTER REFERRED TO AS ACT) DATED 20/12/2011 BY THE LD. ASST. DIRECTOR OF INCOME TAX (E)II(1) , MUMBAI (HEREINAFTER REFERRED TO AS LD. AO). ITA NO . 6237/MUM/2019 M/S. INDO ITALIAN CHAMBER OF COMMERCE & INDUSTRY 2 2. THE REVENUE HAS RAISED THE FOLLOWING GROUNDS OF APPEAL: - 1. 'WHETHER O N THE FACTS AND IN THE CIRCUMSTANCE OF THE CASE AND LAW, THE LD. . CIT(A) - 1, MU MBAI W AS RIGHT IN ALLOWING THE APPEAL OF THE ASSESSEE BY RELYING U PON THE DECISION OF M UMBA I BENCH OF HONBLE ITAT , IN THE CASE OF INDIAN MERCHANT CHAMBERS IN ITA NO. 4076/MUM/2013 THD.29/06/2016 FOR A.Y. 2009 - 10, WITHOUT APPRECIATING THE FACT THAT THE REVENUE HAS NOT ACCEPTED THE SAID DECISION AND HAS FILED AN APPEAL BEFORE THE HON'BL E HIG H COURT OF BOMBAY WHICH IS PENDING FOR ADJUDICATION.' 2. 'THE APPELLANT PRAYS THAT THE ORDER OF THE COMMISSIONER OF INCOME TAX (APPEALS) - 1, MUMBAI BE SET ASIDE AND THAT OF THE ASSESSING OFFICER BE R E STOR E D. 3 . TH E APPELLANT CRAVES LEAVE TO AMEND OR ALTER ANY GROUND OR ADD A NEW GROUND WHICH MAY BE NECESSARY. 3. NONE APPEARED ON BEHALF OF THE ASSESSEE. WE HAVE HEARD RIVAL DR AND PERUSED THE MATERIALS AVAILABLE ON RECORD. WE FIND THAT ASSESSEE IS A CHAMBER OF COMMERCE REGISTERED UNDER 12A OF THE ACT HAVING MAIN OBJECTS TO PRO MOTE AND EXTEND THE COMMERCIAL AND INDUSTRIAL RELATIONS BETWEEN ITALY AND INDIA AND THE DEVELOPMENT OF COMMERCIAL EXCHANGES BETWEEN THEIR RESPECTIVE INDUSTRIES, TRADES AND BUSINESSES AND TO FURTHER THE ECONOMIC INTEREST OF ITALY AND IND IA. THE ASSESSEE IS IN EXISTENCE WITH FURTHER OBJECTS TO ASSIST AND FACILITATE NEW CONTRACTS BETWEEN THE TRADE, ECONOMIC AND INDUSTRIAL INTEREST OF BOTH THE COUNTRIES. 3.1. THE RETURN OF INCOME FOR THE A.Y.2009 - 10 HAS BEEN FILED BY THE ASSESSEE TRUST ON 3 0/09/2009 ALONG WITH AUDITED INCOME AND EXPENDITURE AND BALANCE SHEET DECLARING LOSS OF RS.21,70,29,647/ - . THE RETURN WAS ACCOMPANIED WITH COMPUTATION OF INCOME AND AUDIT REPORT U/S.12A(B) OF THE ACT IN THE PRESCRIBED FORM NO.10 B . THE ASSESSMENT WAS COMPLE TED BY THE LD. AO BY DETERMINING THE NET LOSS OF RS.2,54,03,329/ - . FROM THE PERUSAL OF THE AFORESAID GROUNDS OF THE REVENUE, IT COULD BE SEEN THAT THE ISSUE IN DISPUTE IS SQUARELY COVERED BY THE CO - ORDINATE BENCH OF THIS ITA NO . 6237/MUM/2019 M/S. INDO ITALIAN CHAMBER OF COMMERCE & INDUSTRY 3 TRIBUNAL IN THE CASE OF INDIAN MERC HANT CHAMBERS IN ITA NO.4076/MUM/2013 DATED 29/06/2016 FOR A.Y.2009 - 10 WHICH HAS BEEN FOLLOWED BY THE LD. CIT(A) WHILE GRANTING RELIEF TO THE ASSESSEE BY WAY OF GRANTING EXEMPTION U/S.11 OF THE ACT, APART FROM PLACING RELIANCE ON OTHER VARIOUS DECISIONS. T HE RELEVANT OBSERVATION OF THE LD. CIT(A) IS REPRODUCED HEREUNDER FOR THE SAKE OF CONVENIENCE. 6.1 THE AO IN THE ASSESSMENT ORDER HAS MENTIONED THAT THE ASSESSEE HAS FILED A COPY OF 12A CERTIFICATE ISSUED BY THE COMPETENT AUTHORITY AND IS DULY REGISTERED WITH DIT(E). MUMBAI U / S 12A OF THE ACT. THE AO FURTHER THERETO HAS MENTIONED THE OBJECTS OF THE TRUST IS AS UNDER 1 . TO PROMOTE AND EXTEND THE COMMERCIAL AND INDUSTRIAL RELATIONS BETWEEN ITALY AND INDIA AND THE DEVELOPMENT OF COMMERCIAL EXCHANGES BETWEE N THEIR RESPECTIVE INDUSTRIES, TRADE AND BUSINESSES AND TO FURTHER THE ECONOMIC INTERESTS OF ITALY AND INDIA 2 TO CONSIDER 811 QUESTIONS CONNECTED WITH SUCH INDUSTRIES, TRADES AND BUSINESSES AND ECONOMIC INTEREST AS AFORESAID. 3. TO PROMOTE THE STUDY OF ALL QUESTIONS ROTATING TO THE SEVERAL INTERNATIONAL ENACTMENT AND CONVENTIONS WHICH CONCERN THE OBJECTS THE CHAMBER HAS IN VIEW. THE AO THEREAFTER HAS NOTED THAT THE ASSESSEE HAS SHOWN LOSS OF RS2 , 59 , 03 , 329 / - AFTER DEBITING VARIOUS EXPENSES AND THAT THE A SSESSEE HAS SHOWN RECEIPTS TO THE EXTENT OF RS . 11 , 68,54,661 / - WHICH COMPRISED OF ANNUAL SUBSCRIPTION(RS2 8,36,924) . COMPENSATION ON ACCOUNT OF BILATERAL PROMOTION(RS . 8 , 46,60 , 729 / - ) AND MISCELLANEOUS LNCOME (RS.4 , 53 , 679 / - ) THE AO OBSERVED THAT THE ASSESSEE H AS EARNED FROM ORGANIZING SEMINAR & ORGANIZING COMMERCIAL CLASSES, EXHIBITION AND PROVIDING TECHNICAL SERVICES ETC. ACCORDING TO THE AO, THESE ACTIVITIES WERE ORGANIZED REGULAR ACTIVITIES OF THE ASSES S EE AND HE ACCORDINGLY ASKED THE ASSESSEE TO EXPLAIN THE AS TO WHY THE SAME SHOULD NOT BE TREATED AS BUSINESS ACTIVITIES U/S 2(15) OF THE ACT. HE ALSO ASKED AS TO WHY THE EXEMPTION U / S 11(4A) OF THE ACT SHOULD NOT BE DENIED AS THE CONDITIONS MENTIONED THEREIN ARE NOT SATISFIED BY THE ASSESSEE. THE ASSESSEE S SU BMISSION FILED ON 19.12.2011 HAS BEEN REPRODUCED IN PARA 6 OF THE ASSESSMENT ORDER, THEREAFTER, THE AO HAS DISCUSSED THE ISSUE IN DETAIL AT PARS 7 , 8 & 9 OF THE ASSESSMENT ORDER WHEREIN PLACING RELIANCE ON THE DECISIONS IN THE CASE OF SOLE TRUSTEE, LOKA S HI K SHANA TRUST VS, C I T 101 ITR 234(SC), BIHAR INSTITUTE OF MINING AND MINE SURVEYING VS CIT 200 8 ITR 604 AND REFER R ING TO THE AMENDMENT MADE U / S 2(15) OF THE ACT WET 01 . 04.2009 , OBSERVED THAT THE ASSESSEE I S NOT AN EDUCATIONAL INSTITUTION AND THAT ITS ACTIVI T IES DO NOT FALL UNDER THE DEFINITION OF ITA NO . 6237/MUM/2019 M/S. INDO ITALIAN CHAMBER OF COMMERCE & INDUSTRY 4 CHARITABLE PURPOSES. THE AO FURTHER PLACED RELIANCE ON THE DECISION OF THE GUJARAT HIGH COURT IN THE CASE OF SAURASHTRA EDUCATION FOUNDATION VS CIT, 273 ITR 139 (GUJARAT). THE A0 FURTHER OBSERVED THAT THE ASSESSEE I S PREDOMINANTLY MUTUAL ASSOCIATION AND HAS NON - CHAR I TAB L E OBJECTS AND THAT THE EXEMPTION U/S 11 AS A CHARITABLE TRUST AND PRINCIPLES OF MUTUALITY ARE MUTUALLY EXCLUSIVE OF EACH OTHER. THE AO FURTHER DISCUSSED THE SCHEME OF SEC .11 TO 13 OF THE ACT, PARTICUL ARLY 13(1)(C) & 13(3) OF THE ACT AND FINALLY CONCLUDED THAT THE ACTIVITIES OF THE ASSESSEE ARE HIT BY THE PROVISO OF SEC 2(15) OF THE ACT AND HE ACCORDINGLY PROCEEDED TO DENY THE EXEMPTION CLAIMED BY THE ASSESSEE U / S 11 OF THE ACT. 6.2 THE ASSESSEE IN THE IR DETAILED SUBMISSION REFERRED TO THE MEMORANDUM & ARTICLES OF ASSOCIATION OF THE TRUST, FURTHER GAVE DETAILS OF THE NATURE OF ACTIVITIES AND AMOUNT SPENT ON SUCH ACTIVITIES. THE ASSESSEE THEREAFTER REFERRED TO THE AMENDMENT IN PROVISO TO SEC.2(15) OF THE ACT AND TO THE CIRCULAR NO.11/2006 DATED 19.12.2008 OF THE CBDT AND ACCORDINGLY SUBMITTED THAT SUCH PROVISO TO SEC.2(15) WILL APPLY ONLY TO THE ENTITIES WHOSE PURPOSE IS OF ADVANCEMENT OF GENERAL PUBLIC UTILITY. IT WAS ACCORDINGLY SUBMITTED THAT THEIR ACT IVITIES, AIMS AND OBJECTS ARE NOT HIT BY THE NEWLY INTRODUCED BY THE PROVISO TO SEC2(15) OF THE ACT. THE ASSESSEE ALSO REFERRED TO THE SPEECH OF THE FINANCE MINISTER ON THE FINANCE BILL 2008 TO EMPHASIZE THAT THE GENUINE CHARITABLE INSTITUTIONS WILL NOT BE AFFECTED BY SUCH AMENDMENT. THEY ALSO SUBMITTED THAT ORDINARILY CHAMBERS OF COMMERCE AND SIMILAR ORGANIZATION RENDERING SIMILAR SERVICES TO THEIR MEMBERS WOULD NOT BE AFFECTED BY THE AMENDMENT. THE ASSESSEE ALSO PLACED RELIANCE ON THE DECISION OF HON B L E SUPREME COURT IN THE CASE OF KP.VARGHESE VS. ITO 131 ITR 597 (SC), IN THE CASE OF KERALA STATE INDUSTRIAL DEVELOPMENT CORPORATION LTD. VS.CIT 259 ITR 51 AND R &B FALCON (A) PLY. LTD. VS. CII 301 ITR 309(SC) SO CONTEND THAT THE FINANCE MINISTER SPEECH CAN B E RELIED UPON TO THROW LIGHT ON THE OBJECT AND PURPOSES OF THE PARTICULAR PROVISIONS INTRODUCED BY THE FINANCE BILL AND THAT IF THE LANGUAGE OF SECTION IS AMBIGUOUS THEN FOR THE PURPOSES OF INTERPRETATION, THE SPEECH DELIVERED BY THE HON'BLE FINANCE MINIST ER AT THE TIME OF INTRODUCTION OF THE BILL CAN BE TAKEN RECOURSE OF. THE APPELLANT ALSO PLACED RELIANCE ON THE DECISION OF HON B L E IT AT CHENNAI IN THE CASE OF JAPANESE CHAMBER O F COMMERCE 99 D T R 145 AND DECISION OF HON B L E KOLKAT A TRIBUNAL IN THE CASE OF I NDIAN CHAMBER OF COMMERCE VS. IT O (E) 167 TTJ 0001/ 6 7 SOT 0176, THE ASSESSEE FURTHER DETAILED THE MEANING OF BUSINESS AND FINALLY REFERRING TO THEIR OBJECTS C ONTENDED THAT THEIR ACTIVITIES ARE NOT H I T BY THE PROVISO TO SEC 2(15) OF THE ACT IT WAS ALSO SUBMI TTED THAT RIGHT FROM THE INCEPTION FROM A. Y . 1985 - 86 TO 2007 - 08 THE EXEMPTION U/S 11 WAS ALLOWED TO THEM AND THAT THEIR PURPOSE AND OBJECTS REMAINED UNCHANGED AND P RINCIPLES OF CONSISTENCY SHOULD BE FOLLOWED. THE ASSESSSEE ALSO PLACED RELIANCE ON THE DECIS ION OF HON B L E I TAT, MUMBAI IN THE CASE OF INDO FRENCH CHAMBER OF COMMERCE VS ADIT(E) - 11(1) MUMBA, IN IT A NO. 385/MUM/2013 AND ITA N O. 1122 / MUM /2 013 FOR AY. 2009 - 10 AND SUBMITTED THAT FACTS OF THEIR CASE ARE IDENTICAL AND THEIR ISSUE IS SQUARELY ITA NO . 6237/MUM/2019 M/S. INDO ITALIAN CHAMBER OF COMMERCE & INDUSTRY 5 COVERED BY THE DECISION OF JURISDICTIONAL TRIBUNAL. IT WAS ACCORDING L Y SUBMITTED THAT THEY ARE ENTITLED FOR EXEMPTION U / S 11 OF THE ACT AND THE SAME SHOULD BE GRANTED TO THEM . 6.2.1. THE ASSESSEE MADE THEIR FURTHER SUBMISSION DATED 2507.2017, WHEREIN IT WAS SUBMITTE D THAT THEIR ASSESSMENT FOR A.YRS. 2010 - 11, 2012 - 13. 2014 - 15 & 2016 - 17 WERE COMPLETED U/S 143(3) OF THE ACT AND THE AO IN ALL THESE YEARS HAVE ACCEPTED THEIR CLAIM U/S 11 OF THE ACT. THE ASSESSEE FURTHER PLACED RELIANCE ON THE DECISION OF HON B L E MUMBA I TR IBUNAL IN THE CASE OF INDIAN MERCHANT CHAMBERS VS. ADIT(E) - 11(1) IN I TA NO. 4076/MUM12013 DATED 29.062016 FOR A.Y. 2009 - 10. 6.3 I HAVE CAREFULLY CONSIDERED THE FACTS OF THE CASE, ORAL CONTENTIONS AND WRITTEN SUBMISSIONS OF THE ASSESSEE. DISCUSSION OF THE A O IN THE ASSESSMENT ORDER AND MATERIAL AVAILABLE ON RECORD. IT IS SEEN THAT THE AO AFTER GOING INTO THE OBJECTS OF THE TRUST, ITS RECEIPTS, PROPOSED TO INVOKE PROVISO TO SEC2(15) OF THE ACT IN THE CASE OF THE ASSESSEE. AS PER THE AO, THE CASE OF THE ASSES SEE WAS HIT BY THE PROVISO TO SEC.2(15) OF THE ACT. THE AO FURTHER HELD THAT THE ASSESSEE IS A PREDOMINANTLY MUTUAL ASSOCIATION AND THAT IN THE ACTIVITY CARRIED OUT BY THE APPELLANT, THE BASIC PRINCIPLE OR ESSENCE OF CHARITY WAS MISSING. THE AO ACCORDINGLY DENIED THE CLAIM OF EXEMPTION SEC. 11 OF THE ACT MADE BY THE APPELLANT. THE ASSESSEE ON THE OTHER SIDE HAS GIVEN DETAILED SUBM I SSION AND HAS PLACED RELIANCE ON THE DECISION OF THE HON'B L E JURISDICITO N AL TRIBUNAL IN THE CASE OF LNDO FRENCH CHAMBER OF COMME RCE VS. ADIT(E)11(1 ) MUMB AI IN ITA NO 386/MUM/2013 FOR A.Y. 2009 - 10. IN THE SAID DECISION DATED 15.04. 2016, THE HON BL E TRIBUNAL ON THE SET OF SIMILAR FACTS AS THAT OF THE ASSES SE E AND DISCUSSING THE ISSUE AT LENGTH AND CONSIDERING THE DECISION OF HON B L E I TAT, CHENNA I , IN THE CASE OF JAPANESE CHAMBER OF COMMERCE 99 D T R 145 AND DECISION OF HON B L E IT AT. KOLKATA TRIBUNAL IN THE CASE OF INDIAN CHAMBER OF CO MMERCE VS I TO 1491& 1284 /K/20 12 DATED 02.12 . 2014 OBSERVED THAT THE CASE OF THE ASSESSEE INDO FRENCH OF CO MMERCE AND INDUSTRY FALLS UNDER THE DEFINITION OF CHARITABLE PURPOSE UNDER THE LAST LIMB OF DEFINITION OF CHARITABLE PURPOSES U / S 2(15) OF THE ACT I.E. THE ADVANCEMENT OF ANY OTHER OBJECT OF GENERAL PUBLIC UTILITY. IN THE SAID DECISION THE HON'BLE I TAT FUR THER OBSERVED THAT THE CASE OF THE ASSESSEE INDO FRENCH CHAMBER OF COMMERCE AND INDUSTRY WAS COVERED BY THE ORDERS OF COORDINATE BENCH OF ITAT IN THE CASE OF JAPANESE CHAMBER OF COMMERCE, CHENNAI BENCH (SUPRA) AND INDIAN CHAMBER OF COMMERCE OF KOLKA T A (SUP RA). ACCORDINGLY, THE GROUND RAISED BY THE ASSESSEE WAS ALLOWED. THE ASSESSEE HAS FURTHER PLACED RELIANCE ON THE DECISION OF HON BL E JURISD I CT I ONAL TRIBUNAL IN THE CASE OF INDIAN MERCHANTS CHAMBERS VS. DDIT(E) - II (1), MUMBAI WHEREIN VIDE ORDER DATED 2906201 6 IN I TA NO 4076 / MUM/2013, THE HON B L E MUMBA I TRIBUNAL HAS AT PARA 6 OBSERVED ASUNDER: - 6. FACTS AND CIRCUMSTANCES IN THE INSTANT CASE BEFORE US ARE EXACTLY SIMILAR VIS - - VIS NATURE OF ACTIVITY BEING CORNED OUT BY THE ASSESSEE. RESPECTFULLY FOLLOWING THE DECISION OF CO - ORDINATE BENCH IN THE CASE ITA NO . 6237/MUM/2019 M/S. INDO ITALIAN CHAMBER OF COMMERCE & INDUSTRY 6 OF INDIAN CHAMBERS OF COMMERCE & INDUSTRY, WHEREIN AFTER DISCUSSING VARIOUS HIGH COURT AND SUPREME COURT JUDGEMENTS THE TRIBUNAL REACHED TO THE CONCLUSION THAT EVEN OF AMENDMENT OF SECTION 2(15) OF THE ACT W.E . F 01 .04.2009. ASSESSEE ASSOCIATION'S HAVING PRIMARY PURPOSE AT ADVANCEMENT OF OBJECTS OF GENERAL PUBLIC UTILITY AND IT WOULD REMAIN CHARITABLE EVEN IF AN INCIDENTAL OR ANCILLARY ACTIVITY OR PURPOSE, FOR ACHIEVING THE MAIN PURPOSE WAS PROFITABLE IN NATURE. HENC E, ASSESSES IS NOT HIT BY NEWLY INSERTED PROVISO TO SECTION 2(15) 2(15) OF THE ACT. IT IS FURTHER SEEN THAT THE ASSESSEE HAS ALSO SUBMITTED THE COPIES OF ASSESSMENT ORDERS IN THEIR OWN CASE FOR A.Y. 2010 - 11, 2012 - 13. 2014 - 15 AND 2016 - 17. IT IS SEEN THAT I N ALL THESE ASSESSMENT YEARS, ORDERS WERE PASSED BY THE AO ULS 143(3) OF THE ACT AND THERE IS NO DENIAL OF DEDUCTION U/S 11 OF THE ACT IN ANY OF THE ASSESSMENTS SO COMPLETED. IT THEREFORE MEANS THAT THE AO IN THE SUBSEQUENT ASSESSMENT YEARS HAS FOUND THE C LAIM OF THE ASSESSEE U/S 11 OF THE ACT AS ALLOWABLE . IN SUCH FACTS AND CIRCUMSTANCES OF THE CASE WHEN THE AO HIMSELF HAS ALLOWED THE CLAIM OF DEDUCTION U/S 11 OF THE ACT BY THE ASSESSEE IN SUBSEQUENT ASSESSMENT YEARS AND RES PECTFULLY FOLLOWING DECISIONS OF HON B L E JURISDI CTIO NAL IT AT IN THE CASE OF INDIAN MERCHANT CHAMBERS VS DDIT(E)110) (SUPRA) AND I N THE CASE OF INDO FRENCH CHAMBER OF COMMERCE & INDUSTRY VS. ADIT(E)11(1) (SUPRA) THE ACTION OF THE AO IN DENYING THE CLA I M U/S 11 OF THE ACT TO THE ASSESSEE I N THE YEAR UNDER CONSIDERATION IS NOT FOUND TO BE JUSTIFIABLE THE A O IS ACCORDINGLY DIREC TE D TO ALLOW THE CLAIM OF EXEMPTION U/S. 11 OF THE ACT . GROUND N O1 OF APPEAL IS ACCORDINGLY ALLOWED. 3.2. MOREOVER, WE ALSO FIND THAT THE LD. CIT(A) HAD ALSO RELIED ON THE ASSESSMENT ORDERS IN ASSESSEES OWN CASE FOR A.YRS. 2010 - 11, 2012 - 13, 2014 - 15 AND 2016 - 17 WHERE THE CLAIM OF EXEMPTION U/S.11 OF THE ACT HAS BEEN ACCEPTED AND GRANTED UNDER SIMILAR FACTS AND CIRCUMSTANCES BY THE LD. AO U/S.143(3) OF THE ACT. THIS GO ES TO PROVE THAT FOR SUBSEQUENT YEARS, THE LD. AO HIMSELF HAS ACCEPTED THE CONTENTIONS OF THE ASSESSEE. AT THE COST OF REPETITION, WE FIND THAT THE LD. CIT(A) HAS ONLY FOLLOWED CO - ORDINATE BENCH DECISION OF THIS TRIBUNAL IN THE CASE OF INDIAN MERCHANT CHAM BERS IN ITA NO.4076/MUM/2013 DATED 29/06/2016 FOR A.Y.2009 - 10 WHICH IS AFTER THE AMENDMENT BROUGHT IN SECTION 2(15) OF THE ACT AND THAT THE REVENUES GRIEVANCE IS ONLY THAT SINCE THE DECISION HAS BEEN ITA NO . 6237/MUM/2019 M/S. INDO ITALIAN CHAMBER OF COMMERCE & INDUSTRY 7 AGITATED BY THEM BEFORE THE HONBLE BOMBAY HIGH COURT, THEY HAD NOT ACCEPTED THE TRIBUNAL DECISION AND THAT THE SAME HAD NOT ATTAINED FINALITY . WE FIND THAT THE DECISION OF THIS TRIBUNAL IS BINDING ON US ON THE SAME SET OF FACTS AND CIRCUMSTANCES AND HENCE, WE DEEM IT FIT NOT TO DEVIATE FROM THE SAID DECISION. WE FIND THAT THE LD. CIT(A) HAD RIGHTLY GRANTED RELIEF TO THE ASSESSEE IN THE INSTANCE CASE BY FOLLOWING THE DECISION OF THE TRIBUNAL. ACCORDINGLY, THE GROUNDS RAISED BY THE REVENUE ARE DISMISSED. 4. IN THE RESULT, APPEAL OF THE REVENUE IS DISMISSED. OR DER PRONOUNCED ON 22 /0 6 /2021 BY WAY OF PROPER MENTIONING IN THE NOTICE BOARD. SD/ - ( MAHAVIR SINGH ) SD/ - ( M.BALAGANESH ) VICE PRESIDENT ACCOUNTANT MEMBER MUMBAI ; DATED 22 / 0 6 / 202 1 KARUNA , SR.PS COPY OF THE ORDER FORWARDED TO : BY ORDER, ( ASSTT. REGISTRAR) ITAT, M U M B A I 1. THE APPELLANT 2. THE RESPONDENT. 3. THE CIT(A), MUMBAI. 4. CIT 5. DR, ITAT, MUMBAI 6. GUARD FILE. //TRUE COPY//