DY. COMMISSIONER OF INCOME TAX(EXEMPTIONS)-2(1), MUMBAI, MUMBAI vs. SHEILA GOPAL FOUNDATION, MUMBAI

ITA 3318/MUM/2025Status: DisposedITAT Mumbai28 August 2025AY 2018-19Bench: SHRI SAKTIJIT DEY (Vice President), SHRI NARENDRA KUMAR BILLAIYA (Accountant Member)15 pages
AI SummaryPartly Allowed

What did the Tribunal hold?

The Tribunal held that the loan advanced to another charitable trust with similar objects qualifies as an application of income under Section 11. It also upheld the CIT(A)'s finding that there was no violation of Section 13 due to the common trustee.

What were the facts?

The assessee, a charitable trust, advanced a loan to another charitable trust with similar objects. The Assessing Officer denied exemption under Section 11, treating the loan as not an application of income and citing a common trustee as a violation of Section 13. The CIT(A) upheld the denial of exemption based on the loan not being an application of income but disagreed on the Section 13 violation.

What were the issues?

Whether a loan advanced to another charitable trust is an application of income, and whether a common trustee violates provisions for exemption.

Which sections of the Income-tax Act were involved?

Section 11,Section 13(1)(c),Section 13(2)(h)

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Cases cited in this judgment(3)Show list

Detected automatically from the text. Citations are also linked where they appear in the judgment. The count shows how many other judgments on BharatTax rely on the same authority.

IN THE INCOME TAX APPELLATE TRIBUNAL “F” BENCH, MUMBAI BEFORE SHRI SAKTIJIT DEY, VP AND SHRI NARENDRA KUMAR BILLAIYA, AM ITA No.

Assessment Year 3161/Mum/2025 2012-13 3155/Mum/2025 2018-19 3156/Mum/2025 2017-18 3157/Mum/2025 2016-17 3158/Mum/2025 2015-16 3159/Mum/2025 2014-15 3160/Mum/2025 2013-14 Sheila Gopal Foundation Dy. CIT, Exemption, Circle-2, Construction House-B, 2nd Floor, Room No. 608, 6th Floor, 623, Linking Road, Khar (W), Cumballa Hill MTNL TE Building, Vs.

Mumbai-400 052 Pedder Road, Dr. Gopalrao Deshmukh Marg, Cumballa Hill, Mumbai-400 026 PAN/GIR No. AABTS 5672 B (Assessee) : (Revenue) and ITA No.

Assessment Year 3312/Mum/2025 2012-13 3313/Mum/2025 2013-14 3314/Mum/2025 2014-15 3315/Mum/2025 2015-16 3316/Mum/2025 2016-17 3317/Mum/2025 2017-18 3318/Mum/2025 2018-19 Dy. CIT, Exemption, Circle-2, Sheila Gopal Foundation Room No. 608, 6th Floor, Construction House-B, 2nd Floor, Mumbai-400 052 Marg, Cumballa Hill, Mumbai-400 026 PAN/GIR No. AABTS 5672 B (Revenue) : (Assessee)

Shri Percy Pardiwala a/w Appellant by : Adv. Sanjay Sawant and Adv. Sanjeev Shah Respondent by :

The order continues below.

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