DY C I T RANGE I Vs. J AND K SMALL SCALE IND DEV CORP LTD
LAWS(IT)-2008-2-15
INCOME TAX APPELLATE TRIBUNAL
Decided on February 08,2008

Appellant
VERSUS
Respondents

JUDGEMENT

A.D. Jain, Judicial Member - (1.) THESE are eight department's appeals for the assessment years 1980-81 to 1986-87 and 1990-91. The facts being common in all these appeals, they are being disposed of by this composite order.
(2.) The department has raised the following ground of appeal No. 1 in all these eases: The learned CIT(A) has erred in allowing the assessee exemption under Section 11 of the Income tax Act, 1961. The following additional grounds of appeal have also been taken: 1. That on the facts and circumstances of the case and in law the ld. CIT(A) has erred in passing the appellate order dated 14-3-2007 without giving an opportunity of being heard to the Assessing Officer, which is mandatory as per provisions of Section 250(1) and 250(2) of the Income tax Act, 1961, thus violating the Principles of natural justice and therefore the order of CIT(A) deserves to be declared as null and void. 2. That the ld. CIT(A) has erred on facts and case of Delhi Stock Exchange Association Ltd. v. CIT (1995) 225 ITR 235 (SC) in right perspective in accordance with law and thereby has erroneously held that the ratio of the said judgment is not applicable to the case of the assessee with regard to prospective operation of the amendment to the Articles of Association of the assessee. 3. That the ld. CIT(A) has erred on facts and circumstances of the case and in law by not appreciating the ratio of judgment of Hon'ble Supreme Court in the case of CIT v. Kamala Town Trust 217 ITR 699 (SC) in right perspective in accordance with law and thereby has erroneously held that the ratio of the said judgment is not applicable to the case of the assessee with regard to prospective operation of the amendment to the Articles of Association of the assessee.
(3.) THE learned D.R. has stated at the bar that he does not seek to press the additional ground of appeal No. l. THE additional ground of appeal No. l in all these appeals is thus rejected as not pressed. THE additional grounds of appeal Nos. 2 and 3 are, in fact elaboration of the original ground of appeal No. 1.;


Click here to view full judgement.
Copyright © Regent Computronics Pvt.Ltd.