COMMISSIONER OF INCOME TAX Vs. INDIAN BROADCASTING FOUNDATION

JUDGEMENT

(1.) The Revenue has preferred this appeal under Sec. 260A of the Income Tax Act, 1961 [hereafter 'the Act'] impugning an order dtd. 8/9/2022 [hereafter 'the impugned order'] passed by the learned Income Tax Appellate Tribunal [hereafter 'the ITAT'] in ITA No. 5589/Del/2018, in respect of the assessment year (AY) 2015-16.

(2.) As revealed from the records, the Indian Broadcasting Foundation [hereafter 'the Assessee'] was incorporated on 27/9/1999 as a not-for-profit company under Sec. 25 of the Companies Act, 1956 [hereafter 'the Companies Act']. The Assessee was also registered under Sec. 12A of the Act vide order dtd. 10/1/2001. The Assessee is an association of broadcasters formed to protect the interests of various stakeholders and related entities in the field of television broadcasting, including the television viewing audience. Its objectives include spreading awareness about the latest developments in the television industry, disseminating knowledge among its members, and supporting, protecting, and defining the rights of its members.

(3.) The Assessee filed its return of income declaring Nil income on 30/9/2015 for the AY 2015-16, claiming exemption under Ss. 11 and 12 of the Act. The case was subsequently selected for scrutiny assessment under the Computer-Assisted Scrutiny Selection (CASS). A notice under Sec. 143(2) of the Act, dtd. 26/7/2016, was issued and served upon the Assessee. Thereafter, a notice under Sec. 142(1) of the Act was issued, along with a questionnaire, requiring the Assessee to furnish information and documents in support of its claims. In response, Sh. Rajat Jain and Sh. Vipin Dixit, Chartered Accountants and Authorized Representatives (ARs) of the Assessee, appeared before the Assessing Officer (AO) from time to time and submitted the requisite information/ documents.