C/TAXAP/18/2020 JUDGMENT IN HIGH COURT OF GUJARAT AT AHMEDABAD R/TAX APPEAL NO. 18 of 2020 FOR APPROVAL AND SIGNATURE: HONOURABLE MR.JUSTICE J.B.PARDIWALA Sd/ and HONOURABLE MR. JUSTICE BHARGAV D. KARIA Sd/ 1 Whether Reporters of Local Papers may be allowed NO to see judgment? 2 To be referred to Reporter or not ? NO 3 Whether their Lordships wish to see fair copy NO of judgment ? 4 Whether this case involves substantial question NO of law as to interpretation of Constitution of India or any order made thereunder? COMMISSIONER OF INCOME TAX (EXEMPTIONS) Versus GUJARAT MARITIME BOARD Appearance: MRS MAUNA M BHATT for Appellant. MR SN SOPARKAR, SR.ADVOCATE with MR G H VIRK for Opponent. CORAM: HONOURABLE MR.JUSTICE J.B.PARDIWALA and HONOURABLE MR. JUSTICE BHARGAV D. KARIA Date : 17/02/2020 ORAL JUDGMENT (PER : HONOURABLE MR.JUSTICE J.B.PARDIWALA) This Tax Appeal under Section 260A of Income Tax Act, 1961, is at instance of Revenue and is directed against Page 1 of 3 Downloaded on : Tue Apr 21 10:36:41 IST 2020 C/TAXAP/18/2020 JUDGMENT order passed by Income Tax Appellate Tribunal, 'C' Bench, Ahmedabad, dated 30th July 2019, in ITA No.2991/Ahd/2013 for Assessment Year 2009-10. Revenue has proposed following substantial questions of law for consideration of this Court : (A) Whether on facts and in circumstances of case, Appellate Tribunal is justified in negating findings of CIT(A) as well as Assessing Officer denying benefits of Sections 11 and 12 of Act by invoking proviso to Section 2(15) r.w. Section 13(8) of Act? (B) Whether on facts and in circumstances of case, Appellate Tribunal is justified in allowing assessee's appeal without appreciating that Revenue has filed Tax Appeal No.408 of 2012 before this Hon'ble Court against decision of Appellate Tribunal restoring registration under Section 12AA of Act cancelled by CIT? (C) Whether on facts and in circumstances of case, Appellate Tribunal is justified in allowing accumulation of 15% without appreciating fact that once provision of Section 2(15) r.w. Section 13(8) is applicable, assessee forfeits all exemptions under Sections 11 and 12 of Act ? (D) Whether on facts and in circumstances of case, Appellate Tribunal is justified in deleting Page 2 of 3 Downloaded on : Tue Apr 21 10:36:41 IST 2020 C/TAXAP/18/2020 JUDGMENT deduction in fixed assets of Rs.34,49,94,135/- without appreciating fact that once provision of Section 2(15) r.w. Section 13(8) is applicable, assessee forfeits all exemptions under Sections 11 and 12 of Act ? In view of judgment and order passed by this Court in Tax Appeal No.408 of 2012 dated 17 th February 2020, substantial questions of law as proposed by Revenue are answered against Revenue and in favour of assessee. Appeal fails and is hereby dismissed. (J. B. PARDIWALA, J.) (BHARGAV D. KARIA, J.) MOINUDDIN Page 3 of 3 Downloaded on : Tue Apr 21 10:36:41 IST 2020 Commissioner of Income-tax (Exemptions) v. Gujarat Maritime Board