DIRECTOR OF INCOME TAX (EXEMPTION) Vs. ALL INDIA PERSONALITY ENHANCEMENT & CULTURAL CENTRE FOR SCHOLARS AIPECCS SOCIETY

JUDGEMENT

(1.) The substratal controversy involved in the above captioned appeals and the writ petition, relates to the question whether the income of All India Personality Enhancement and Cultural Centre for Scholars AIPECCS Society (hereafter the 'Assessee') is exigible to tax under the Act.

(2.) The principal issue involved in the above mentioned appeals filed by the Revenue under Section 260A of the Income Tax Act, 1961 (hereafter the 'Act'), is whether the surplus reflected by the Assessee in its Books of Accounts maintained in the normal course could be taxed under the provisions of Chapter XIV-B of the Act; inasmuch as, it is contended that the same could not be considered as undisclosed income earned during the block period. Since the issues involved in the above captioned appeals and the writ petition are common and/or interlinked, the said matters were heard together.

(3.) ITA 705/2008 is an appeal preferred by the Revenue under Section 260A of the Act against an order dated 28th September, 2007 passed by the Income Tax Appellate Tribunal (hereafter the 'Tribunal') in IT(SS)A.No.300/Del/2001 whereby the Assessee's appeal directed against the order dated 29th November, 2001 passed by the Commissioner of Income Tax (Appeals) [hereafter 'CIT(A)'] in Appeal No. 60/2001-II, was allowed.