SRI SATHYA SAI CENTRAL TRUST,BANGALORE vs. ASSISTANT COMMISSIONER OF INCOME TAX (EXEMPTION), CIRCLE-1, BANGALORE
What did the Tribunal hold?
The Tribunal held that depreciation is allowable as application of income. It also directed the AO to recompute the interest under Section 234B after hearing the assessee.
What were the facts?
The assessee, Sri Sathya Sai Central Trust, appealed against orders confirming the treatment of expenditure and denial of depreciation. The appeals also concerned the levy of interest under Section 234B.
What were the issues?
Whether depreciation is allowable as application of income for charitable trusts and whether interest under Section 234B was correctly levied.
Which sections of the Income-tax Act were involved?
AI-generated summary — verify with the full judgment below
Cases cited in this judgment(3)Show listHide 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.
- Income Tax-III, Pune v. Rajasthan & Gujarati Charitable Foundation Poona130 citing89 Taxmann.com 127 · 2018 · SC
- Bai Sonabai Hirji Agiary Trust v. ITO39 citing93 ITD 70 · 2005 · ITAT
- Dharmodayam Co. v. ITO3 citing154 ITD 574 · ITAT
Income Tax Appellate Tribunal, “A’’ BENCH: BANGALORE
Before: SHRI N.V. VASUDEVAN & SHRI CHANDRA POOJARI
Heard together (2 matters)
Read from the judgment's own cause title. This page is filed under one of them.
PER CHANDRA POOJARI, ACCOUNTANT MEMBER:
These two are assessee’s appeals directed against different orders of Ld. CIT(A)-14, Bengaluru dated 29.3.2018 and 20.8.2020 for the assessment years 2014-15 & 2012-13. There was a delay of 156 days in filing the appeal in ITA No.103/Bang/2021 for the assessment year 2012-13. 2. The grounds of appeal of the assessee in ITA No.1811/Bang/2018 are as under: 1. “The impugned order of the Commissioner of Income Tax (Appeals)- 14, Bangalore [for short 'the CIT(A)'], passed under section 250 of the Income Tax Act, 1961 is opposed to law, w
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