Advertising Agencies Association of India vs. ITO(Exemption)

Parties Involved

Facts Summary

The appellant, Advertising Agencies Association of India, filed appeals against the orders of the Commissioner of Income Tax for assessment years 2013-14, 2015-16, and 2017-18. The appellant raised several grounds of appeal, including the denial of exemption under section 11 of the Income Tax Act on surplus generated from conducting Goa Fest, denial of exemption on bank interest earned, and denial of benefit of application of income under section 11/12 on the amount advanced to Broadcast Audience Research Council of India (BARCI). The appellant also raised an additional ground for the first time, requesting to carry forward the excess expenditure for the present assessment year.…

Legal Issues

• 1. Denial of exemption u/s. 11 on surplus generated on conducting Goa Fest.
• 2. Denial of exemption u/s. 11 on bank interest earned by the appellant.
• 3. Denial of benefit of application of income u/s. 11/12 on the amount advanced to BARCI.
• 4. Carry forward of excess expenditure for the present assessment year.

Judgment Outcome

Decided in favour of Assessee.

Precedents Relied Upon

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