ACIT(Exemption) v. Marugappa Chettiar Trust

303 ITR 360High Court#24386 most cited
3

judgments rely on this decision, according to BharatTax’s citation analysis of 331,145 Indian tax judgments — from 2025 to 2025.

Sections most often in play

Section 11Section 11(2)Section 11(5)Section 12ASection 11(1)Section 11(1)(a)Section 11(5)(iii)Section 2(45)

Issues it is cited on

section 11(5)section 11(2)section 12asection 11prescribedindiabusiness

Judgments citing ACIT(Exemption) v. Marugappa Chettiar Trust

Gangarani Balika Vidhyalya, Kannauj vs. Income Tax Officer, Ghaziabad

In the result, the appeal of the assessee is allowed

ITA 4007/DEL/2025[2018-19]Status: DisposedITAT Delhi27 Aug 2025AY 2018-19

Bench: Shri M. Balaganeshgangarani Balika Vidhyalya, Vs. Ito, Rampur, Baiju, Chibramau, Ghaziabad Kannauj, Up Pan: Aatg8579N Assessee By : Shri Vibhu Gupta, Adv Revenue By: Shri Manoj Kumar, Sr. Dr Date Of Hearing 13/08/2025 Date Of Pronouncement 27/08/2025

For Appellant: Shri Vibhu Gupta, AdvFor Respondent: Shri Manoj Kumar, Sr. DR
Section 11Section 11(2)Section 11(5)Section 12ASection 143(1)(a)Section 143(3)Section 154Section 260A

…cribed mode. Accordingly, he denied the claim of exemption u/s 11(2) of the Act to the extent of ₹31,34,000/-. This action was upheld by ld NFAC. 4. I find the Hon’ble Madras High Court in the case of ADIT (Exemption) Vs. Murugappa Chettiar Trust reported in 303 ITR 360 (Mad) had an occasion to deal with this very same issue. For the sake of convenience, the said order is reproduced below:- This appeal is filed under section 260A of the Income-tax Act, 1961, by the Revenue, against the order of the Income-tax Appellate Tribunal, Bench "C", Chennai, in I.T.A. No. 513(Mds)/94, dated February 15, 2001. On June 16,…

Sri Srinivasa Trust, Bangalore vs. Deputy Commissioner of Income Tax, Central Circle-2(1), Bangalore

In the result, the appeal of the assessee is hereby allowed

ITA 1076/BANG/2024[2021-2022]Status: DisposedITAT Bangalore18 Feb 2025AY 2021-2022

Bench: Shri Waseem Ahmed & Shri Keshav Dubey

For Appellant: Shri Siva Prasad Reddy & Shri BalachandranFor Respondent: Ms. Nandini Das, CIT (DR)
Section 11Section 11(1)Section 11(1)(a)Section 12ASection 2(45)Section 80G

…ent of ₹54,61,28,031 to claim the deduction under section 11(2) of the Act. The assessee to substantiate its contention placed its reliance on the judgment of Hon’ble High Court of Madars in the case of ACIT(Exemption) Vs. Marugappa Chettiar Trust reported in 303 ITR 360 wherein the Hon’ble Court held has that the balance in current account is also treated as investment as per section 11(5) of the Act to claim the deduction provided under section 11(2) of the Act. 19.1 The assessee in form 35 (statement of facts before the ld. CIT-A) also submitted the computation representing the application of income that the…

Sri Srinivasa Trust, Bangalore vs. Assistant Commissioner of Income Tax, Central Circle-2(1), Bangalore

In the result, the appeal of the assessee is hereby allowed

ITA 1075/BANG/2024[2020-21]Status: DisposedITAT Bangalore18 Feb 2025AY 2020-21

Bench: Shri Waseem Ahmed & Shri Keshav Dubey

For Appellant: Shri Siva Prasad Reddy & Shri BalachandranFor Respondent: Ms. Nandini Das, CIT (DR)
Section 11Section 11(1)Section 11(1)(a)Section 12ASection 2(45)Section 80G

…ent of ₹54,61,28,031 to claim the deduction under section 11(2) of the Act. The assessee to substantiate its contention placed its reliance on the judgment of Hon’ble High Court of Madars in the case of ACIT(Exemption) Vs. Marugappa Chettiar Trust reported in 303 ITR 360 wherein the Hon’ble Court held has that the balance in current account is also treated as investment as per section 11(5) of the Act to claim the deduction provided under section 11(2) of the Act. 19.1 The assessee in form 35 (statement of facts before the ld. CIT-A) also submitted the computation representing the application of income that the…