Income Tax - Exemption v. Indian Olympic Association Through: None

$~52 * IN THE HIGH COURT OF DELHI AT NEW DELHI+ ITA 110/2019 THE COMMISSIONER OF INCOME TAX - EXEMPTION ..... Appellant Through: Mr.Ruchir Bhatia, Sr.Std.Counsel with Ms.Vibhuti Malhotra, Advocate versus INDIAN OLYMPIC ASSOCIATION Through: None. ..... Respondent CORAM:HON’BLE MR. JUSTICE S. RAVINDRA BHATHON’BLE MR. JUSTICE PRATEEK JALAN % O R D E R04.02.2019 1.The first question of law urged by the Revenue is with respect to the admissibility of Sections 11 and 12 of the Income Tax Act; the Assessing officer (AO) had ruled that the assessee was disentitled to the exemptions. The CIT(A) and the ITAT, however, reversed the decision and relied upon the decision of this Court in India Trade Promotion Organization vs. DGIT(2015) 371 ITR 333. The second question urged is with respect to the alleged double benefit claimed by the assessee i.e. towards depreciation reported in respect of the assets acquired out of previous exempt income. On this too the Tribunal relied upon a binding decision of the Supreme Court in CIT vs. Rajasthan & Gujarat Charitable Foundation (2018) 402 ITR 441. ITA 110/2019 2.Both questions urged are answered by the decisions of this Court and the Supreme Court. Therefore, no substantial question of law arises. the Supreme Court. Therefore, no substantial question of law arises. 3.The appeal is dismissed. S. RAVINDRA BHAT, J FEBRUARY 04, 2019 „hkaur‟ PRATEEK JALAN, J