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Judgment
By this petition u/s 256(2) of the Income Tax Act, 1961 Income Tax Act, the petitioner has prayed that the Tribunal be asked to frame the statement of the case and refer the following question for the opinion of this court :
"On the facts and in the circumstances of the case, the Income Tax Appellate Tribunal erred in law in allowing exemption u/s 11 of the Income Tax Act and holding that the provisions of section 13(1)(bb) are not applicable in this case."
Notice of this petition had been issued to the respondent. The learned counsel for the respondent has vehemently argued that no case for referring the above question for the opinion of this court is made out from the order of the Tribunal.
The entire controversy in the present case revolves around the exemption u/s 11 of the Act sought by the assessed on the ground that the assessed is a charitable trust. The trust-deed was executed on 23-11-1982. The matter in controversy relates to the accounting year 1983-84. The accounting year of the assessed ends on 31-12-1982. The first return was filed on 30-6-1983 in Form No. 2 which relates to business income. A revised return was filed on 27-3-1985 in Form No. 2 again, but the income shown was nil, A third revised return was filed on 27-4-1985 in Form No. 3A. The learned counsel for the revenue submits that this shows that the assessed claimed exemption only when it filed the third revised return and the Tribunal was not right in law in allowing the exemption.
On the other hand, the learned counsel for the assessed has shown that Form No. 10 under rule 17 was filed on 13-6-1983 itself whereby, exemption u/s 11 for accumulation of the income was claimed. The case of the assessed is that it wanted to accumulate the income in order to apply the same for setting up a charitable hospital at Gwalior. The assessing officer did not grant the exemption holding that the income was not being applied for charitable purpose. The Commissioner (Appeals) affirmed the same. However, the Tribunal went into all these aspects and held that the assessed was entitled to the exemption u/s 11.
In these circumstances, we are of the view that no question for opinion of this court arises from the facts found by the Tribunal.
This petition is, accordingly, dismissed.