Court No. - 37 Case :- INCOME TAX APPEAL DEFECTIVE No. - 268 of 2007 Petitioner :- The Commissioner Of Income Tax Respondent :- Krishi Utpadan Mandi Samiti Petitioner Counsel :- S.C./R.K.Upadhyaya Hon'ble Rajes Kumar,J.
Hon’ble Subhash Chandra Nigam,J.
Heard Sri R.K.Upadhyaya, learned Standing Counsel appeared on behalf of
the appellant and Sri Ashish Bansal, learned counsel appeared on behalf of the
respondent.
This is an appeal under Section 260A of the Income Tax Act, 1961 at the
instance of the Revenue and following questions of law have been raised in
the memorandum of appeal.
We are of the opinion that the question no. 1 is the only substantial question
of law which is referred herein below:-
1- Whether on the facts and circumstances of the case, the Income Tax
Tribunal is justified in law in holding that the market committees or Krishi
Utpadan Mandi Samities constituted under the Uttar Pradesh Krishi Utpadan
Mandi Samiti Adhiniyam, 1964 are established for charitable purposes and
accordingly directing the Commissioner of Income Tax to grant registration
under section 12A/12AA of the Income Tax Act, 1961?
The aforesaid question of law came for consideration before the Division
Bench of Lucknow Bench of this Court in the case of the assessee itself in
Income Tax appeal nos. 80, 81, 82 and 83 of 2007 and Division Bench of this
Court sitting at Lucknow vide order dated 02.12.2009 answered the aforesaid
question in affirmative in favour of the assessee and against the revenue.
Respectfully following the said decision, the aforesaid question is answered in
favour of the assessee and against the revenue.
In view of the above, the appeal is, accordingly, dismissed.
Order Date :- 1.2.2010
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