DCIT(EXEMPTIONS)-1(1), MUMBAI, MUMBAI vs. INDIAN INSTITUTE OF BANKING AND FINANCE, MUMBAI

ITA 3392/MUM/2026Status: DisposedITAT Mumbai07 August 2026AY 2016-1715 pages
AI SummaryDismissed

What were the facts?

The Revenue appealed against the assessee's claim for exemption under Section 11. The Assessing Officer denied exemption, viewing the assessee's activities as business-oriented. However, the CIT(A) allowed the exemption, relying on previous tribunal and high court decisions.

What did the Tribunal hold?

The Tribunal held that the assessee was entitled to exemption under Section 11, following earlier consistent rulings on identical facts. Specific issues regarding depreciation and accumulation under Section 11(2) were also decided in favor of the assessee.

What were the issues?

Whether the assessee's activities constituted business, disentitling it to exemption under Section 11, and whether depreciation and accumulation claims were valid.

Which sections of the Income-tax Act were involved?

Section 11,Section 11(2),Section 11(6),Section 10(22),Section 10(23C)(vi),Section 164(2)

AI-generated summary — verify with the full judgment below

IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH, MUMBAI BEFORE SHRI CHALLA NAGENDRA PRASAD, JUDICIAL MEMBER AND SHRI G. M. DOSS, ACCOUNTANT MEMBER

ITA No. 3386/Mum/2026 to 3392/Mum/2026 (िनधा"रणवष"/Assessment Year: 2010-11 to 2016-17) [Permanent Account Number: AAATT3309D]

Indian Institute of Banking DCIT (Exemptions)-1(1), and Finance Mumbai 400070. (""थ" /Respondent) (अपीलाथ"/ Appellant)

िनधा""रती"ारा/Assessee represented Shri. Nitesh Joshi by: राज" व"ारा/Revenue represented by: Shri. Rajdeep Singh, CIT DR

सुनवाईकीतारीख/Date of conclusion of hearing: 07.08.2026 घोषणाकीतारीख/Date of pronouncement: 19.08.2026 & [Permanent Account Number: AAATT3309D]

Indian Institute of Banking DCIT (Exemptions)-1(1), and Finance Mumbai 400070. (अपीलाथ"/ Appellant) (""थ" /Respondent) (A.Y. 2010-11 to 2018-19)

िनधा""रती"ारा/Assessee represented Shri. Nitesh Joshi by: राज" व"ारा/Revenue represented by: Shri. Rajd

The order continues below.

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