CIT (Exemptions) Vs Jaipur Development Authority Rajasthan (Supreme Court of India)
Supreme Court held that Rajasthan High Court not justified in dismissing the appeal by considering matter under section 10(20) since it was the case of section 11 and 12 of Income Tax Act. Accordingly, order set aside and remanded back for fresh consideration.
Facts- Revenue has preferred the present appeal mainly contesting that the High Court has dismissed the appeals preferred by the Revenue by granting the benefit to the respondent/Assessee under Section 10(20) of the Income Tax Act, 1961. However, respondent/Assessee never claimed the benefit under Section 10(20) of the IT Act and according to the respondent, it was a case of Sections 11 and 12 of the IT Act.
Conclusion- Held that the respondent-assessee has never claimed the benefit under Section 10(20) of the Income Tax Act, 1961 (for short “Act”) and therefore, the High Court was not justified in dismissing the appeals by considering the matter under Section 10(20) of the said act. However, since the aforesaid matters have been remanded to the High Court, in the interest of consistency, we remand these matters also to the High Court for consideration afresh in accordance with law and on their own merits. The appeals shall be considered afresh as expeditiously as possible. Consequently, the impugned orders are set aside.
