ITAT CHENNAI BENCH ‘A’
Tamil Nadu Industrial Guidance & Export Promotion Bureau
versus
Assistant Director of Income-tax, (Exemptions)-IV, Chennai
IT Appeal No. 201 (Mds.) of 2013
[ASSESSMENT YEAR 2009-10]
Date of Pronouncement – 21.03.2013
ORDER
Vikas Awasthy, Judicial Member – The assessee has filed appeal against the order of the CIT(A) -XII, Chennai dated 30.10.2012 relevant to the assessment year 2009-10.
2. The brief facts of the case are that the assessee is a society registered under the Tamil Nadu Societies Registration Act. The assessee society is formed by Government of Tamil Nadu with the objects of advising, scouting and impressing on corporates especially foreign corporates to set up industrial units in the State of Tamil Nadu. The assessee is also registered under section 12A of the Income Tax Act, 1961 as a charitable organization.
3. For the assessment year 2009-10, the assessee filed its return of income on 18.10.2010 admitting Nil income. The case of the assessee was selected for scrutiny and notice under section 143(2) was issued to the assessee on 15.9.2011. The case of the assessee is, that the assessee is a Government body and charitable institution, it has been set up with an object of providing information and assistance to entrepreneurs for establishing industrial units in the State of Tamil Nadu. The assessee admitted receipts of Rs. 2.00 crores on account of single window assistance for setting up of industries in the State. The assessee is providing services to entrepreneurs in lieu of fees depending upon the size of investment in the projects. The assessee has been accepting fees as per the order of the Government of Tamilnadu in G.O. Ms.No.588 dated 10.09.1998 on the basis of various slabs which are specified herein below:-
