Benefit Of Section 11 Of The Act Relying On The Decisionsof This Hon'ble Court In The Case Of Ahmedabad Urbandevelopment Authority v. Acit (Exemption) In Tano.423 To 425 Of 2016 And Cit Vs.gujarat Industrialdevelopment Corporation Reported In (2017) 83Taxmann.com 366 (Gujarat) Which Are Subjec

IN THE HIGH COURT OF GUJARAT AT AHMEDABAD R/TAX APPEAL NO. 131 of 2022 ==========================================================COMMISSIONER OF INCOME TAX (EXEMPTIONS) VersusGANDHINAGAR URBAN DEVELOPMENT AUTHORITY ========================================================== Appearance:MR MR BHATT IWTH MR MUNJAL BHATT FOR M R BHATT & CO.(5953) for the Appellant(s) No. 1 for the Opponent(s) No. 1 ========================================================== CORAM: HONOURABLE MR. JUSTICE J.B.PARDIWALAandHONOURABLE MS. JUSTICE NISHA M. THAKORE Date : 24/01/2022 ORAL ORDER (PER : HONOURABLE MS. JUSTICE NISHA M. THAKORE) 1.This Appeal is filed at the instance of the Revenue beingaggrieved and dissatisfied by the order dated 24.08.2021 passedby the Income Tax Appellate Tribunal, Ahmedabad, in ITA No. 577/Ahd/2019 for A.Y. 2015-16. 2.In the present Appeal, the Revenue has proposed thefollowing questions of law for consideration of this Court: [A] "Whether on the facts and circumstances of the caseand in law, the Appellate Tribunal was justified inallowing the benefit of exemptions u/s.11 & 12 of the Actwithout considering the fact that the assessee is involvedin widespread commercial activities in nature of businessand the activity of the assessee covered under theprovisions of Section 2(15) of the Act and thus,exemption u/s.11 & 12 of the Act is not allowable to theassessee?" [B] "Whether on the facts and circumstances of the caseand in law, the Appellate Tribunal is justified in allowing benefit of Section 11 of the Act relying on the decisionsof this Hon'ble Court in the case of Ahmedabad UrbanDevelopment Authority Vs ACIT (Exemption) in TANo.423 to 425 of 2016 and CIT Vs.Gujarat IndustrialDevelopment Corporation reported in (2017) 83Taxmann.com 366 (Gujarat) which are subject matter offurther appeal before the Hon'ble Supreme Court andpending?" [C] "Whether on the facts and circumstances of the caseand in law, the Appellate Tribunal is justified in allowingbenefit of capital expenditure of Rs.15,07,13,500/- andaccumulation @ 15% of Rs.10,46,85,495/- u/s.11(1)(a)without appreciating the fact that once the proviso tosection 1 & 2 to Section 2(15) is applicable, the benefit u/s.11 and 12 of the Act cannot be allowed to theassessee?" [D] "Whether on the facts and circumstances of the caseand in law, the Appellate Tribunal is justified in allowingbenefit of accumulation of Rs.39,88,00,000/- u/s. 11(2)without appreciating the fact that once the proviso toSection 1 & 2 to section 2(15) is applicable, the benefit u/s.11 and 12 of the Act cannot be allowed to theassessee?" [E] "Whether on the facts and circumstances of the caseand in law, the Appellate Tribunal is justified in allowingbenefit of section 11 of the Act relying on the decision ofCo-ordinate Bench of Ahmedabad in ITA Nos.2438,2439 & 2440/Ahd/2017 AYs. 2012-13 to 2014-15,SLP in Dairy No. 8199 of 2021, 8204 of 2021 and 8192of 2021 subject matter of further appeal before theHon'ble Supreme Court, which are pending?" 3.We have heard learned senior counsel Mr. M.R. Bhattassisted by learned counsel Mr. Mujnaj Bhatt for the Revenue. 4.The substantial questions of law raised are no longer resintegra in view of the decision of this Court in the case of Ahmedabad Urban Development Authority Vs. ACIT (Exemption)reported in (2017) 396 ITR 323 (Gujarat). In view of the aforesaid, present Appeal fails and is herebydismissed. (J. B. PARDIWALA, J) Y.N. VYAS (NISHA M. THAKORE,J)