Asstt. Commissioner Of Income Tax, ... vs Surat City Gymkhana

The Supreme Court upheld the dismissal of appeals by the High Court regarding the exemption claim under Section 10(23) of the Income-tax Act, 1961, for the Assessment Years 1991-92 and 1992-93. The Court found that the Income Tax Appellate Tribunal's decision was covered by the precedent set in Hiralal Bhagwati v. Commissioner of Income-Tax, 2000 (246) ITR 188, specifically regarding the interpretation of 'General Public Utility' under Section 2(15) and the implications of registration under Section 12-A. Consequently, the appeals were dismissed as the Revenue did not challenge the correctness of the prior judgment, leading to its finality.