(2) CIT v. Manilal Bapalal

321 ITR 322High Court2010#24480 most cited
3

judgments rely on this decision, according to BharatTax’s citation analysis of 348,254 Indian tax judgments — from 2016 to 2020.

Judgments citing (2) CIT v. Manilal Bapalal

Income Tax Officer-23(1)(2), Mumbai vs. Indian Corporate Loan Securities Trust 2008 Series 14, Mumbai

In the result, Revenue's appeal for A

ITA 4789/MUM/2017[2010-11]Status: DisposedITAT Mumbai29 Jan 2020AY 2010-11

Bench: Shri M.Balaganesh, Am & Shri Ravish Sood, Jm The Ito-23(1)(2) Vs. M/S. Indian Corporate Loan Room No.18 Securities Trust 2008 Matru Mandir Series 14 Grant Road Il & Fs Financial Centre Mumbai – 400 007 Plot No.C-22, G Block 3Rd Floor, Bandra Kurla Complex, Bandra East Mumbai – 400 051 Pan/Gir No. Aaat16786P (Appellant) .. (Respondent) The Ito-23(1)(2) Vs. M/S. Indian Corporate Loan Room No.18 Securities Trust Series Iii Matru Mandir 2009 Grant Road Il & Fs Financial Centre Mumbai – 400 007 Plot No.C-22, G Block Bandra Kurla Complex, Bandra East Mumbai – 400 051 Pan/Gir No. Aaat17440L (Appellant) .. (Respondent) The Ito-23(1)(2) Vs. M/S. Indian Corporate Loan Room No.18 Securities Trust Series Matru Mandir 2008 Series 36 Grant Road Il & Fs Financial Centre Mumbai – 400 007 Plot No.C-22, G Block Bandra Kurla Complex, Bandra East Mumbai – 400 051 Pan/Gir No. Aaat16925L (Appellant) .. (Respondent) आदेश / O R D E R Per Bench: These Appeals In Ita No.4789/Mum/2017, 4791/Mum/2017 & 4794/Mum/2017 For A.Y.2010-11 Arise Out Of The Order By The Ld. Commissioner Of Income Tax (Appeals)-32, Mumbai In Appeal No.Cit(A)- 32/It-604/23(1)(2)/2015-16, Cit(A)-32/It-48/19(3)(2)/2012-13 & Cit(A)-32/It-483/Ito-19(3)(4)/12-13 Respectively Dated 24/04/2017 (Ld. Cit(A) In Short) Against The Order Of Assessment Passed U/S.143(3) Of The Income Tax Act, 1961 (Hereinafter Referred To As Act) Dated 26/02/2016, 31/10/2012 Respectively By The Ld. Income Tax Officer – 23(1)(2) & 19(3)(2) Respectively, Mumbai (Hereinafter Referred To As Ld. Ao).

Section 10Section 143(3)Section 148Section 161Section 161(1)Section 61

…ed clearly prescribes the beneficiaries and the shares they are entitled to and other terms relevant to the share of interest in the corpus on determination or termination of the trust and therefore Sec.164 was not attracted. (2) CIT v. Manilal Bapalal [2010] 321 ITR 322 (Mad.) wherein the Hon'ble High Court had to deal with a case where the CIT in exercise of powers u/s. 263 revised an order of the assessment as erroneous and prejudicial to the interest of the revenue as the trust had not been treated as an AOP and taxed on that basis, as in his view the trust deed did not identify all the beneficiaries and the…

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

…the deed clearly prescribes the beneficiaries and the shares they are entitled to and other terms relevant to the share of interest in the corpus on determination or termination of the trust and therefore Sec.164 was not attracted. (2) CIT Vs. Manilal Bapalal 321 ITR 322 (Mad) wherein the Hon’ble High Court had to deal with a case where the CIT in exercise of powers u/s.263 revised an order of the assessment as erroneous and prejudicial to the interest of the revenue as the trust had not been treated as an AOP and taxed on that basis, as in his view the trust deed did not identify all the beneficiaries and the sh…

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

…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 merit." As we have already stated the terms of the trust deed are identical…