(1) CIT v. P. Sekar Trust

321 ITR 305High Court2010#14008 most cited
7

judgments rely on this decision, according to BharatTax’s citation analysis of 348,254 Indian tax judgments — from 2016 to 2017.

Judgments citing (1) CIT v. P. Sekar Trust

T vs. Shriram Growth Fund, Chennai

In the result, the Appeal of the assessee is partly allowed and the Revenue’s appeals dismissed

ITA 982/CHNY/2016[2010-11]Status: DisposedITAT Chennai07 Jun 2017AY 2010-11

Bench: Shri N.R.S. Ganesan & Shri D.S.Sunder Singh

For Respondent: Mr.Percy J. Pardewalla, Sr
Section 10Section 115Section 161(1)Section 164Section 40A(2)(b)

…f the trust deed, respective contribution agreement and the Private Placement Memorandum. Therefore, the Appellant satisfies the provisions of the Act to qualify as a “determinate Trust” and the decision of the Madras High Court in the case of P. Sekar Trust (321 ITR 305) squarely applies to the case of the Appellant. On identical facts and issue, the ITAT, “B” Bench, Bangalore in ITA No.178/Bang/2012 dated 17.10.2014 in the case of India Advantage Fund VII, has laid down following principles on applicability of Section 164(1) of the Act: • Identification of beneficiaries • Ascertainment of share of the benefici…

T vs. Shriram Growth Fund, Chennai

In the result, the Appeal of the assessee is partly allowed and the Revenue’s appeals dismissed

ITA 981/CHNY/2016[2009-10]Status: DisposedITAT Chennai07 Jun 2017AY 2009-10

Bench: Shri N.R.S. Ganesan & Shri D.S.Sunder Singh

For Respondent: Mr.Percy J. Pardewalla, Sr
Section 10Section 115Section 161(1)Section 164Section 40A(2)(b)

…f the trust deed, respective contribution agreement and the Private Placement Memorandum. Therefore, the Appellant satisfies the provisions of the Act to qualify as a “determinate Trust” and the decision of the Madras High Court in the case of P. Sekar Trust (321 ITR 305) squarely applies to the case of the Appellant. On identical facts and issue, the ITAT, “B” Bench, Bangalore in ITA No.178/Bang/2012 dated 17.10.2014 in the case of India Advantage Fund VII, has laid down following principles on applicability of Section 164(1) of the Act: • Identification of beneficiaries • Ascertainment of share of the benefici…

T vs. Shriram Growth Fund, Chennai

In the result, the Appeal of the assessee is partly allowed and the Revenue’s appeals dismissed

ITA 1902/CHNY/2016[2009-10]Status: DisposedITAT Chennai07 Jun 2017AY 2009-10

Bench: Shri N.R.S. Ganesan & Shri D.S.Sunder Singh

For Respondent: Mr.Percy J. Pardewalla, Sr
Section 10Section 115Section 161(1)Section 164Section 40A(2)(b)

…f the trust deed, respective contribution agreement and the Private Placement Memorandum. Therefore, the Appellant satisfies the provisions of the Act to qualify as a “determinate Trust” and the decision of the Madras High Court in the case of P. Sekar Trust (321 ITR 305) squarely applies to the case of the Appellant. On identical facts and issue, the ITAT, “B” Bench, Bangalore in ITA No.178/Bang/2012 dated 17.10.2014 in the case of India Advantage Fund VII, has laid down following principles on applicability of Section 164(1) of the Act: • Identification of beneficiaries • Ascertainment of share of the benefici…

ITO, Chennai vs. Tvs Shriram Growth Fund, Chennai

In the result, the Appeal of the assessee is partly allowed and the Revenue’s appeals dismissed

ITA 1401/CHNY/2016[2010-11]Status: DisposedITAT Chennai07 Jun 2017AY 2010-11

Bench: Shri N.R.S. Ganesan & Shri D.S.Sunder Singh

For Respondent: Mr.Percy J. Pardewalla, Sr
Section 10Section 115Section 161(1)Section 164Section 40A(2)(b)

…f the trust deed, respective contribution agreement and the Private Placement Memorandum. Therefore, the Appellant satisfies the provisions of the Act to qualify as a “determinate Trust” and the decision of the Madras High Court in the case of P. Sekar Trust (321 ITR 305) squarely applies to the case of the Appellant. On identical facts and issue, the ITAT, “B” Bench, Bangalore in ITA No.178/Bang/2012 dated 17.10.2014 in the case of India Advantage Fund VII, has laid down following principles on applicability of Section 164(1) of the Act: • Identification of beneficiaries • Ascertainment of share of the benefici…

ITO, Chennai vs. Tvs Shriram Grwoth Fund, Chennai

In the result, the Appeal of the assessee is partly allowed and the Revenue’s appeals dismissed

ITA 1345/CHNY/2016[2009-10]Status: DisposedITAT Chennai07 Jun 2017AY 2009-10

Bench: Shri N.R.S. Ganesan & Shri D.S.Sunder Singh

For Respondent: Mr.Percy J. Pardewalla, Sr
Section 10Section 115Section 161(1)Section 164Section 40A(2)(b)

…f the trust deed, respective contribution agreement and the Private Placement Memorandum. Therefore, the Appellant satisfies the provisions of the Act to qualify as a “determinate Trust” and the decision of the Madras High Court in the case of P. Sekar Trust (321 ITR 305) squarely applies to the case of the Appellant. On identical facts and issue, the ITAT, “B” Bench, Bangalore in ITA No.178/Bang/2012 dated 17.10.2014 in the case of India Advantage Fund VII, has laid down following principles on applicability of Section 164(1) of the Act: • Identification of beneficiaries • Ascertainment of share of the benefici…

ITO 19(3)(2), Mumbai vs. Indian Corporate Loan Securitization Trust 2008 Series 14I, Mumbai

In the result, Revenue’s appeal for A

ITA 4343/MUM/2013[2009-10]Status: DisposedITAT Mumbai17 Feb 2017AY 2009-10

Bench: Shri Jason P. Boaz & Shri Sandeep Goasinindian Corporate Loan Securitisation Income Tax Officer-9(3)(2) Trust- 2008 Series 14 Mumbai C/O. Il & Fs Trust Co. Ltd. Vs. 10Th Floor, “G” Block, Bkc Bandra (E), Mumbai 400051 Pan – Aaati6786P Appellant Respondent Income Tax Officer-(23)1)(2) Indian Corporate Loan [Erstwhile Ito-19(3)(2)] Securitisation Trust- 2008 Series 14 Room No. 108, Matru Mandir Vs. C/O. Il & Fs Trust Co. Ltd. Tardeo Road, Grant Road 10Th Floor, “G” Block, Bkc Mumbai 400007 Bandra (E), Mumbai 400051 Pan – Aaati6786P Appellant Respondent

For Appellant: Shri S.E. Dastur &For Respondent: Shri P.C. Chhotaray

…y is that the beneficiary should be identifiable with reference to the order of the Court or the instrument of trust or wakf deed on the date of such order, instrument or deed. He also drew our attention to the following decisions:- (1) CIT Vs. P. Sekar Trust 321 ITR 305 (Mad) wherein the Hon’ble Madras High Court held that so long as the trust deed gives the details of the beneficiaries and the description of the person who is to be benefited, the beneficiaries cannot be said to be uncertain, merely because wife/children cannot be known until the marriage and begetting of children by the stated beneficiaries. Th…

ACIT, Bangalore vs. M/S Icici Emerging Sector Fund, Bangalore

In the result, all the thirteen appeals of the revenue are dismissed

ITA 505/BANG/2013[2009-10]Status: DisposedITAT Bangalore27 Jul 2016AY 2009-10

Bench: Shri Sunil Kumar Yadav & Shri A.K.Garodia, Accounant Member

For Appellant: Shri S.E.Dastur, Senior AdvocateFor Respondent: Mrs. Neera Malhotra, CIT &
Section 199

…Authority for Advance Rulings, with which we respectfully agree, we hold that the provisions of section 164(1) of the Act would not be attracted in the present case. We also find that the hon'ble Madras High Court in the cases of CIT v. P. Sekar Trust [2010] 321 ITR 305 (Mad.) and CIT v. Manilal Bapalal Family Benefit Trust [2010] 321 ITR 322 (Mad) has taken a view that identity by reference to the terms of the trust deed is sufficient and it is not necessary that the beneficiaries should be specifically named in the deed of trust. Consequently grounds Nos. 4 to 7 raised by the Revenue are held to be without mer…

(1) CIT v. P. Sekar Trust (321 ITR 305) — Cited in 7 Judgments | BharatTax