ORDER :

Ashok Bhan, J.

The respondent-assessee claimed exemption under Section 10(23) of the Income-tax Act, 1961 for the Assessment Years 1991-92 and 1992-93. The said exemption was claimed on the basis that the objects of the respondent-assessee are exclusively charitable. The assessing officer rejected the claim. Appeals filed before the Commissioner of Income-tax (Appeals) were also dismissed. Aggrieved thereby, the assessee filed further appeals before the Income Tax Appellate Tribunal ('the Tribunal').

2. The Tribunal, by order dated 20th January 2001, allowed the appeals filed by the respondent-assessee. The appellant filed appeals before the High Court of Gujarat. The Revenue claimed that the following two substantial questions of law arise from the order of the Tribunal:

"(A) Whether, on the facts and circumstances of the case, the Income Tax Appellate Tribunal was justified in law in holding that the objects of the Trust restricting benefit to the members of the Club would fall within the purview of the act of "General Public Utility" under section 2(15) of the Income Tax Act constituting as a section of public and not a Body of Individuals?

(B) Whether, on the facts and circu