DY. COMMISSIONER O INCOME TAX (EXEMPTION)-2(1), MUMBAI vs. SHREE SAI BABA SANSTHAN TRUST(SHIRDI), MUMBAI

ITA 3210/MUM/2022Status: DisposedITAT Mumbai25 October 2023AY 2017-1856 pages
AI SummaryPartly Allowed

What did the Tribunal hold?

The Tribunal held that the interest income from corpus funds was not eligible for exemption under Section 11(1)(d) as it was not a voluntary donation with specific instructions. However, expenses incurred out of such interest income towards the trust's objects were allowed as application of income.

What were the facts?

The assessee, a charitable and religious trust, received significant anonymous donations. The Assessing Officer sought to tax these donations under Section 115BBC, arguing the trust's 80G registration implied it was solely charitable. The trust contended it was a mixed-purpose trust eligible for an exclusion under Section 115BBC(2)(b).

What were the issues?

Whether anonymous donations received by a mixed-purpose trust are taxable under Section 115BBC, and whether interest income from corpus funds can be treated as voluntary donations eligible for exemption.

Which sections of the Income-tax Act were involved?

Section 115BBC,Section 80G,Section 10(23C)(v),Section 11(1)(d)

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Cases cited in this judgment(11)Show list

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Heard together (4 matters)

I.T.A. No.3049/Mum/2022
I.T.A. No.3210/Mum/2022
I.T.A. No.3209/Mum/2022
I.T.A. No.3010/Mum/2022

Read from the judgment's own cause title. This page is filed under one of them.

IN THE INCOME TAX APPELLATE TRIBUNAL “G” BENCH, MUMBAI BEFORE SHRI ABY T. VARKEY, JM AND SHRI OM PRAKASH KANT, AM आयकरअपीलसं/I.T.A. No.3049/Mum/2022 (निर्धारणवर्ा / Assessment Year: 2015-16) & आयकरअपीलसं/I.T.A. No.3210/Mum/2022 (निर्धारणवर्ा / Assessment Year: 2017-18) & आयकरअपीलसं/I.T.A. No.3209/Mum/2022 (निर्धारणवर्ा / Assessment Year: 2018-19) DCIT (Exemptions)-2(1) बिधम/ C/o 804-B, Sai Niketan, Chambers,LalbaugLower Dr. Ambedkar Road, Parel, Mumbai-400021. Dadar (East), Mumbai – 400014. PAN NO.AAATS2581C आयकरअपीलसं/I.T.A. No.3010/Mum/2022 (निर्धारणवर्ा / Assessment Year: 2015-16)

Shree Sai Baba Sansthan बिधम/ DCIT (Exemptions)-2(1)

Trust (Shridi)

Room No. 519, 5th Floor, Vs. C/o 804-B, Sai Niketan, Dr.

Piramal Chambers, Ambedkar Road, Dadar Lalbaug Lower Parel, (East), Mumbai – 400014. Mumbai-400021. PAN NO.AAATS2581C Revenue by: Dr Kishor Dhule (CIT-DR)

Shri Prakash D Choughule (CIT- DR)

Assessee by: Shri S. Ganesh – Sr. Counsel, Deepak Tikekar (CA), Pravesh Advani (CA) Ashwin Shete (Adv) S. P. Lanke (Accounts Officer) सुनवाईकीतारीख / Date of Hearing: 02/06/2023/(06/10/2023) घोषणाकीतारीख /Date of Pron

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