ARUNACHAL POLICE HOUSING Vs. COMMISSIONER OF INCOME TAX

JUDGEMENT

(1.) Heard Dr. Ashok Saraf, learned senior counsel assisted by Mr. P Baruah, Mr. P.Das and Mr. S.P. Sharma, learned counsel for the appellant. Also heard Mr. Sanjay Sarma, learned Standing Counsel, Finance and Taxation Department for the respondents.

(2.) The substantial question of law framed in these appeals is also common to both these appeals, which reads as hereunder

(3.) The brief facts are that the appellant Corporation is established and registered based on the Memorandum of Association and Articles of Association as at Annexure-A to the memo of appeal. In that light, considering that the appellant Corporation is set-up in the name and style, Arunachal Police Housing & Welfare Corporation Limited and the benefit derived is by the police personnel serving in Arunachal Pradesh, the appellant has sought exemption of the income tax by invoking the provision as contained in Section 10(26B) of the Income Tax Act, 1961, (IT Act for short).