What is ACIT v. A.L.N. Rao Charitable Trust authority for?

The exemption for income accumulated under section 11(1)(a) (presently 15%) is absolute, and section 11(2) does not restrict its operation or require such accumulated income to be invested in specified securities. Investment requirements under section 11(2) apply only to accumulation beyond this absolute exemption limit.

How many judgments cite ACIT v. A.L.N. Rao Charitable Trust?

58 judgments on BharatTax cite ACIT v. A.L.N. Rao Charitable Trust (216 ITR 697), spanning 2010 to 2026.

Which sections of the Income Tax Act does ACIT v. A.L.N. Rao Charitable Trust come up under?

It is most often cited in judgments turning on Section 143(3), Section 11, Section 11(2), Section 11(5), Section 12AA, Section 147.

ACIT v. A.L.N. Rao Charitable Trust (216 ITR 697)

The Institute of Indian Foundrymen., Kolkata vs. ITO, Ward-1(3), Exempt, Kolkata.

In the result, the appeals of the assessee are allowed

ITA 1229/KOL/2023[2016-17]Status: HeardITAT Kolkata12 Apr 2024AY 2016-17

Bench: Shri Rajesh Kumar & Shri Sonjoy Sarma]

Section 11Section 12ASection 2(15)

…आयकर अपील"य अ"धकरण, कोलकाता पीठ “ए’’, कोलकाता IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH: KOLKATA "ी राजेश कुमार, लेखा सद"य एवं "ी संजय शमा", "या"यक सद"य के सम" [Before Shri Rajesh Kumar, Accountant Member & Shri Sonjoy Sarma, Judicial Member] I.T.A. Nos. 1228,1229 & 1230/Kol/2023 Assessment Years: 2015-16, 2016-17 & 2017-18 The Institute of Indian Foundrymen Vs. ITO, Ward-1(3), Exempt, Kolkata (PAN: AAATT 6606 M) ( अपीलाथ" ) Respondent / !यथ" Appellant / Date of Hearing / सुनवाई 04.04.2024 क$ "त&थ Date of Pronouncement/ 12.04.2024 आदेश उ)घोषणा क$ "त&थ For the Appellant/ Shri Sunil Surana, A.R "नधा"/रती…

The Institute of Indian Foundrymen, Kolkata vs. ITO, Ward- 1(3), Exempt, Kolkata.

In the result, the appeals of the assessee are allowed

ITA 1228/KOL/2023[2015-16]Status: HeardITAT Kolkata12 Apr 2024AY 2015-16

Bench: Shri Rajesh Kumar & Shri Sonjoy Sarma]

Section 11Section 12ASection 2(15)

…आयकर अपील"य अ"धकरण, कोलकाता पीठ “ए’’, कोलकाता IN THE INCOME TAX APPELLATE TRIBUNAL “A” BENCH: KOLKATA "ी राजेश कुमार, लेखा सद"य एवं "ी संजय शमा", "या"यक सद"य के सम" [Before Shri Rajesh Kumar, Accountant Member & Shri Sonjoy Sarma, Judicial Member] I.T.A. Nos. 1228,1229 & 1230/Kol/2023 Assessment Years: 2015-16, 2016-17 & 2017-18 The Institute of Indian Foundrymen Vs. ITO, Ward-1(3), Exempt, Kolkata (PAN: AAATT 6606 M) ( अपीलाथ" ) Respondent / !यथ" Appellant / Date of Hearing / सुनवाई 04.04.2024 क$ "त&थ Date of Pronouncement/ 12.04.2024 आदेश उ)घोषणा क$ "त&थ For the Appellant/ Shri Sunil Surana, A.R "नधा"/रती…

The Institute of Indian Foundrymen, Kolkata vs. ITO, Ward-1(3), Exempt, Kolkata.

In the result, the appeal of the assessee is allowed

ITA 906/KOL/2023[2014-15]Status: DisposedITAT Kolkata18 Mar 2024AY 2014-15

Bench: Shri Sanjay Garg & Shri Rajesh Kumar]

Section 11Section 12ASection 2(15)

…आयकर अपील"य अ"धकरण, कोलकाता पीठ “बी’’, कोलकाता IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH: KOLKATA "ी संजय गग","या"यक सद"य एवं "ी राजेश कुमार, लेखा सट"य के सम" [Before Shri Sanjay Garg , Judicial Member & Shri Rajesh Kumar, Accountant Member] I.T.A. No. 906/Kol/2023 Assessment Year: 2014-15 The Institute of Indian Foundrymen Vs. ITO, Ward-1(3), Exempt, Kolkata (PAN: AAATT 6606 M) ( अपीलाथ ) "#यथ ( ) Appellant / Respondent / Date of Hearing / सुनवाई 02.01.2024 क& "त(थ Date of Pronouncement/ 18.03.2024 आदेश उ+घोषणा क& "त(थ For the Appellant/ Shri Sunil Surana, A.R "नधा"1रती क& ओर से For the Respondent/ Shr…

Indian Chamber of Commerce, Kolkata vs. DCIT, Cir-1(1), (Exemption), Kolkata.

In the result, both the appeals of the assessee are allowed

ITA 934/KOL/2023[2014-15]Status: DisposedITAT Kolkata22 Dec 2023AY 2014-15

Bench: Shri Rajpalyadav, Vice-(Kz) & Shri Rajesh Kumar]

Section 11Section 12ASection 2(15)Section 25

…आयकर अपील"य अ"धकरण, कोलकाता पीठ ‘बी’, कोलकाता IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH: KOLKATA "ी राजपाल यादव, उपा"य"(कोलकाता "े") एवं "ी राजेश कुमार, लेखा सद"य के सम" [Before Shri RajpalYadav, Vice-President (KZ) & Shri Rajesh Kumar, Accountant Member] I.T.A. Nos. 933 & 934/Kol/2023 Assessment Years : 2013-14 & 2014-15 Indian Chamber of Commerce Vs. DCIT, Circle-1(1), Exemption, Kolkata (PAN: AAATI 1141 G) Appellant / (अपीलाथ!) Respondent / ("#यथ!) Date of Hearing / सुनवाई 06.11.2023 क& 'त(थ Date of Pronouncement/ 22.12.2023 आदेश उ*घोषणा क& 'त(थ For the Appellant/ Shri S. K. Tulsiyan, Advocate Smt. Lat…

Indian Chamber of Commerce., Kolkata vs. DCIT, Cir-1(1), (Exemption), Kolkata

In the result, both the appeals of the assessee are allowed

ITA 933/KOL/2023[2013-14]Status: DisposedITAT Kolkata22 Dec 2023AY 2013-14

Bench: Shri Rajpalyadav, Vice-(Kz) & Shri Rajesh Kumar]

Section 11Section 12ASection 2(15)Section 25

…आयकर अपील"य अ"धकरण, कोलकाता पीठ ‘बी’, कोलकाता IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH: KOLKATA "ी राजपाल यादव, उपा"य"(कोलकाता "े") एवं "ी राजेश कुमार, लेखा सद"य के सम" [Before Shri RajpalYadav, Vice-President (KZ) & Shri Rajesh Kumar, Accountant Member] I.T.A. Nos. 933 & 934/Kol/2023 Assessment Years : 2013-14 & 2014-15 Indian Chamber of Commerce Vs. DCIT, Circle-1(1), Exemption, Kolkata (PAN: AAATI 1141 G) Appellant / (अपीलाथ!) Respondent / ("#यथ!) Date of Hearing / सुनवाई 06.12.2023 क& 'त(थ Date of Pronouncement/ 22.12.2023 आदेश उ*घोषणा क& 'त(थ For the Appellant/ Shri S. K. Tulsiyan, Advocate Smt. Lat…

Jubilee Mission Hospital, Kakkanad vs. The DCIT, Kochi

In the result, the appeals filed by the assessee in ITA Nos

ITA 91/COCH/2022[2013-14]Status: DisposedITAT Cochin14 Sept 2022AY 2013-14

Bench: Shri Chandra Poojari & Smt. Beena Pillai

For Appellant: Sri Surendranath Rao, A.RFor Respondent: Smt. J.M. Jamuna Devi, Sr. D.R

Section 147Section 148

…ion of 25% of the accumulated income (or Rs 10,000/-, whichever is higher) being exempt. If more than 25% (or Rs.10,000), is tobe exempted then the assessee has to comply with the conditions prescribed u/s 11(2).” v. CIT & Another vs ALN Rao Charitable Trust 216 ITR 697: ITA Nos.88 TO 91/Coch/2022 Jubilee Mission Hospital, Thrissur Page 15 of 19 In this case, the Hon’ble Supreme Court observed that ( at page 703): “ a mere look at section11(1)(a) as it stood at the relevant time clearly shows that out of the total income accruing to a trust in the previous year from property held by it wholly for charitable o…

Jubilee Mission Hospital., Thrissur vs. The DCIT, Kochi

In the result, the appeals filed by the assessee in ITA Nos

ITA 90/COCH/2022[2010-11]Status: DisposedITAT Cochin14 Sept 2022AY 2010-11

Bench: Shri Chandra Poojari & Smt. Beena Pillai

For Appellant: Sri Surendranath Rao, A.RFor Respondent: Smt. J.M. Jamuna Devi, Sr. D.R

Section 147Section 148

…ion of 25% of the accumulated income (or Rs 10,000/-, whichever is higher) being exempt. If more than 25% (or Rs.10,000), is tobe exempted then the assessee has to comply with the conditions prescribed u/s 11(2).” v. CIT & Another vs ALN Rao Charitable Trust 216 ITR 697: ITA Nos.88 TO 91/Coch/2022 Jubilee Mission Hospital, Thrissur Page 15 of 19 In this case, the Hon’ble Supreme Court observed that ( at page 703): “ a mere look at section11(1)(a) as it stood at the relevant time clearly shows that out of the total income accruing to a trust in the previous year from property held by it wholly for charitable o…

Jubilee Mission Hospital, Thrissur vs. The DCIT, Kochi

In the result, the appeals filed by the assessee in ITA Nos

ITA 89/COCH/2022[2009-10]Status: DisposedITAT Cochin14 Sept 2022AY 2009-10

Bench: Shri Chandra Poojari & Smt. Beena Pillai

For Appellant: Sri Surendranath Rao, A.RFor Respondent: Smt. J.M. Jamuna Devi, Sr. D.R

Section 147Section 148

…ion of 25% of the accumulated income (or Rs 10,000/-, whichever is higher) being exempt. If more than 25% (or Rs.10,000), is tobe exempted then the assessee has to comply with the conditions prescribed u/s 11(2).” v. CIT & Another vs ALN Rao Charitable Trust 216 ITR 697: ITA Nos.88 TO 91/Coch/2022 Jubilee Mission Hospital, Thrissur Page 15 of 19 In this case, the Hon’ble Supreme Court observed that ( at page 703): “ a mere look at section11(1)(a) as it stood at the relevant time clearly shows that out of the total income accruing to a trust in the previous year from property held by it wholly for charitable o…

Jubilee Mission Hospital, Thrissur vs. The DCIT, Thrissur

In the result, the appeals filed by the assessee in ITA Nos

ITA 88/COCH/2022[2008-09]Status: DisposedITAT Cochin14 Sept 2022AY 2008-09

Bench: Shri Chandra Poojari & Smt. Beena Pillai

For Appellant: Sri Surendranath Rao, A.RFor Respondent: Smt. J.M. Jamuna Devi, Sr. D.R

Section 147Section 148

…ion of 25% of the accumulated income (or Rs 10,000/-, whichever is higher) being exempt. If more than 25% (or Rs.10,000), is tobe exempted then the assessee has to comply with the conditions prescribed u/s 11(2).” v. CIT & Another vs ALN Rao Charitable Trust 216 ITR 697: ITA Nos.88 TO 91/Coch/2022 Jubilee Mission Hospital, Thrissur Page 15 of 19 In this case, the Hon’ble Supreme Court observed that ( at page 703): “ a mere look at section11(1)(a) as it stood at the relevant time clearly shows that out of the total income accruing to a trust in the previous year from property held by it wholly for charitable o…

Maharishi Markandeshwar Trust, Haryana vs. DCIT, Central Circle Karnal, Karnal

In the result, the appeals of the assessee are allowed on both the grounds

ITA 1972/DEL/2021[2015-16]Status: DisposedITAT Delhi27 Jun 2022AY 2015-16

Bench: Sh. A.D. Jaindr. B. R. R. Kumarita No. 1966/Del/2021 : Asstt. Year: 2009-10 Ita No. 1967/Del/2021 : Asstt. Year: 2010-11 Ita No. 1968/Del/2021 : Asstt. Year: 2011-12 Ita No. 1969/Del/2021 : Asstt. Year: 2012-13 Ita No. 1970/Del/2021 : Asstt. Year: 2013-14 Ita No. 1971/Del/2021 : Asstt. Year: 2014-15 Ita No. 1972/Del/2021 : Asstt. Year: 2015-16 Maharishi Markandeshwar Trust, Vs Acit, C/O Rajiv Goel & Associates, Central Circle-15, 179, Bank Road, Ambala Cantt., New Delhi Ambala (Appellant) (Respondent) Pan No. Adkpn2266L Assessee By : Sh. Ashwani Kumar, Ca & Sh. Rohit Goel, Ca Revenue By : Sh. Bhavnesh Kulsheshtha, Cit Dr Date Of Hearing: 11.05.2022 Date Of Pronouncement: 27.06.2022

For Appellant: Sh. Ashwani Kumar, CA &For Respondent: Sh. Bhavnesh Kulsheshtha, CIT DR

Section 11(1)(a)Section 11(1)(d)Section 12Section 12ASection 131Section 143(3)

…ough the bare provisions of the Act, we hold that 15% accumulation is allowed on the income from property held under trust. 26. These provisions have been further clarified by the Hon’ble Supreme Court in the case of Addl. CIT Vs. A.L.N. Rao Charitable Trust 216 ITR 697 wherein lordships has explained the law with an example of Rs. 1,00,000/- gross income and assuming an expenditure of Rs. 20,000/-, Court has held that Rs. 25,000/- being 25% (now 15%) of gross receipts will be allowed as accumulation u/s 11 (1)(a). 27. For the sake of ready reference, the relevant part of the order of the Hon’ble Supreme Court…

Maharishi Markandeshwar Trust, Haryana vs. DCIT, Central Circle, Karnal

In the result, the appeals of the assessee are allowed on both the grounds

ITA 1971/DEL/2021[2014-15]Status: DisposedITAT Delhi27 Jun 2022AY 2014-15

Bench: Sh. A.D. Jaindr. B. R. R. Kumarita No. 1966/Del/2021 : Asstt. Year: 2009-10 Ita No. 1967/Del/2021 : Asstt. Year: 2010-11 Ita No. 1968/Del/2021 : Asstt. Year: 2011-12 Ita No. 1969/Del/2021 : Asstt. Year: 2012-13 Ita No. 1970/Del/2021 : Asstt. Year: 2013-14 Ita No. 1971/Del/2021 : Asstt. Year: 2014-15 Ita No. 1972/Del/2021 : Asstt. Year: 2015-16 Maharishi Markandeshwar Trust, Vs Acit, C/O Rajiv Goel & Associates, Central Circle-15, 179, Bank Road, Ambala Cantt., New Delhi Ambala (Appellant) (Respondent) Pan No. Adkpn2266L Assessee By : Sh. Ashwani Kumar, Ca & Sh. Rohit Goel, Ca Revenue By : Sh. Bhavnesh Kulsheshtha, Cit Dr Date Of Hearing: 11.05.2022 Date Of Pronouncement: 27.06.2022

For Appellant: Sh. Ashwani Kumar, CA &For Respondent: Sh. Bhavnesh Kulsheshtha, CIT DR

Section 11(1)(a)Section 11(1)(d)Section 12Section 12ASection 131Section 143(3)

…ough the bare provisions of the Act, we hold that 15% accumulation is allowed on the income from property held under trust. 26. These provisions have been further clarified by the Hon’ble Supreme Court in the case of Addl. CIT Vs. A.L.N. Rao Charitable Trust 216 ITR 697 wherein lordships has explained the law with an example of Rs. 1,00,000/- gross income and assuming an expenditure of Rs. 20,000/-, Court has held that Rs. 25,000/- being 25% (now 15%) of gross receipts will be allowed as accumulation u/s 11 (1)(a). 27. For the sake of ready reference, the relevant part of the order of the Hon’ble Supreme Court…

Maharishi Markandeshwar Trust, Haryana vs. DCIT, Central Circle Karnal, Karnal

In the result, the appeals of the assessee are allowed on both the grounds

ITA 1970/DEL/2021[2013-14]Status: DisposedITAT Delhi27 Jun 2022AY 2013-14

Bench: Sh. A.D. Jaindr. B. R. R. Kumarita No. 1966/Del/2021 : Asstt. Year: 2009-10 Ita No. 1967/Del/2021 : Asstt. Year: 2010-11 Ita No. 1968/Del/2021 : Asstt. Year: 2011-12 Ita No. 1969/Del/2021 : Asstt. Year: 2012-13 Ita No. 1970/Del/2021 : Asstt. Year: 2013-14 Ita No. 1971/Del/2021 : Asstt. Year: 2014-15 Ita No. 1972/Del/2021 : Asstt. Year: 2015-16 Maharishi Markandeshwar Trust, Vs Acit, C/O Rajiv Goel & Associates, Central Circle-15, 179, Bank Road, Ambala Cantt., New Delhi Ambala (Appellant) (Respondent) Pan No. Adkpn2266L Assessee By : Sh. Ashwani Kumar, Ca & Sh. Rohit Goel, Ca Revenue By : Sh. Bhavnesh Kulsheshtha, Cit Dr Date Of Hearing: 11.05.2022 Date Of Pronouncement: 27.06.2022

For Appellant: Sh. Ashwani Kumar, CA &For Respondent: Sh. Bhavnesh Kulsheshtha, CIT DR

Section 11(1)(a)Section 11(1)(d)Section 12Section 12ASection 131Section 143(3)

…ough the bare provisions of the Act, we hold that 15% accumulation is allowed on the income from property held under trust. 26. These provisions have been further clarified by the Hon’ble Supreme Court in the case of Addl. CIT Vs. A.L.N. Rao Charitable Trust 216 ITR 697 wherein lordships has explained the law with an example of Rs. 1,00,000/- gross income and assuming an expenditure of Rs. 20,000/-, Court has held that Rs. 25,000/- being 25% (now 15%) of gross receipts will be allowed as accumulation u/s 11 (1)(a). 27. For the sake of ready reference, the relevant part of the order of the Hon’ble Supreme Court…

Maharishi Markandeshwar Trust, Haryana vs. DCIT, Central Circle Karnal, Karnal

In the result, the appeals of the assessee are allowed on both the grounds

ITA 1969/DEL/2021[2012-13]Status: DisposedITAT Delhi27 Jun 2022AY 2012-13

Bench: Sh. A.D. Jaindr. B. R. R. Kumarita No. 1966/Del/2021 : Asstt. Year: 2009-10 Ita No. 1967/Del/2021 : Asstt. Year: 2010-11 Ita No. 1968/Del/2021 : Asstt. Year: 2011-12 Ita No. 1969/Del/2021 : Asstt. Year: 2012-13 Ita No. 1970/Del/2021 : Asstt. Year: 2013-14 Ita No. 1971/Del/2021 : Asstt. Year: 2014-15 Ita No. 1972/Del/2021 : Asstt. Year: 2015-16 Maharishi Markandeshwar Trust, Vs Acit, C/O Rajiv Goel & Associates, Central Circle-15, 179, Bank Road, Ambala Cantt., New Delhi Ambala (Appellant) (Respondent) Pan No. Adkpn2266L Assessee By : Sh. Ashwani Kumar, Ca & Sh. Rohit Goel, Ca Revenue By : Sh. Bhavnesh Kulsheshtha, Cit Dr Date Of Hearing: 11.05.2022 Date Of Pronouncement: 27.06.2022

For Appellant: Sh. Ashwani Kumar, CA &For Respondent: Sh. Bhavnesh Kulsheshtha, CIT DR

Section 11(1)(a)Section 11(1)(d)Section 12Section 12ASection 131Section 143(3)

…ough the bare provisions of the Act, we hold that 15% accumulation is allowed on the income from property held under trust. 26. These provisions have been further clarified by the Hon’ble Supreme Court in the case of Addl. CIT Vs. A.L.N. Rao Charitable Trust 216 ITR 697 wherein lordships has explained the law with an example of Rs. 1,00,000/- gross income and assuming an expenditure of Rs. 20,000/-, Court has held that Rs. 25,000/- being 25% (now 15%) of gross receipts will be allowed as accumulation u/s 11 (1)(a). 27. For the sake of ready reference, the relevant part of the order of the Hon’ble Supreme Court…

Maharishi Markandeshwar Trust, Haryana vs. DCIT, Central Circle Karnal, Karnal

In the result, the appeals of the assessee are allowed on both the grounds

ITA 1968/DEL/2021[2011-12]Status: DisposedITAT Delhi27 Jun 2022AY 2011-12

Bench: Sh. A.D. Jaindr. B. R. R. Kumarita No. 1966/Del/2021 : Asstt. Year: 2009-10 Ita No. 1967/Del/2021 : Asstt. Year: 2010-11 Ita No. 1968/Del/2021 : Asstt. Year: 2011-12 Ita No. 1969/Del/2021 : Asstt. Year: 2012-13 Ita No. 1970/Del/2021 : Asstt. Year: 2013-14 Ita No. 1971/Del/2021 : Asstt. Year: 2014-15 Ita No. 1972/Del/2021 : Asstt. Year: 2015-16 Maharishi Markandeshwar Trust, Vs Acit, C/O Rajiv Goel & Associates, Central Circle-15, 179, Bank Road, Ambala Cantt., New Delhi Ambala (Appellant) (Respondent) Pan No. Adkpn2266L Assessee By : Sh. Ashwani Kumar, Ca & Sh. Rohit Goel, Ca Revenue By : Sh. Bhavnesh Kulsheshtha, Cit Dr Date Of Hearing: 11.05.2022 Date Of Pronouncement: 27.06.2022

For Appellant: Sh. Ashwani Kumar, CA &For Respondent: Sh. Bhavnesh Kulsheshtha, CIT DR

Section 11(1)(a)Section 11(1)(d)Section 12Section 12ASection 131Section 143(3)

…ough the bare provisions of the Act, we hold that 15% accumulation is allowed on the income from property held under trust. 26. These provisions have been further clarified by the Hon’ble Supreme Court in the case of Addl. CIT Vs. A.L.N. Rao Charitable Trust 216 ITR 697 wherein lordships has explained the law with an example of Rs. 1,00,000/- gross income and assuming an expenditure of Rs. 20,000/-, Court has held that Rs. 25,000/- being 25% (now 15%) of gross receipts will be allowed as accumulation u/s 11 (1)(a). 27. For the sake of ready reference, the relevant part of the order of the Hon’ble Supreme Court…

Maharishi Markandeshwar Trust, Haryana vs. DCIT, Central Circle Karnal, Karnal

In the result, the appeals of the assessee are allowed on both the grounds

ITA 1967/DEL/2021[2010-11]Status: DisposedITAT Delhi27 Jun 2022AY 2010-11

Bench: Sh. A.D. Jaindr. B. R. R. Kumarita No. 1966/Del/2021 : Asstt. Year: 2009-10 Ita No. 1967/Del/2021 : Asstt. Year: 2010-11 Ita No. 1968/Del/2021 : Asstt. Year: 2011-12 Ita No. 1969/Del/2021 : Asstt. Year: 2012-13 Ita No. 1970/Del/2021 : Asstt. Year: 2013-14 Ita No. 1971/Del/2021 : Asstt. Year: 2014-15 Ita No. 1972/Del/2021 : Asstt. Year: 2015-16 Maharishi Markandeshwar Trust, Vs Acit, C/O Rajiv Goel & Associates, Central Circle-15, 179, Bank Road, Ambala Cantt., New Delhi Ambala (Appellant) (Respondent) Pan No. Adkpn2266L Assessee By : Sh. Ashwani Kumar, Ca & Sh. Rohit Goel, Ca Revenue By : Sh. Bhavnesh Kulsheshtha, Cit Dr Date Of Hearing: 11.05.2022 Date Of Pronouncement: 27.06.2022

For Appellant: Sh. Ashwani Kumar, CA &For Respondent: Sh. Bhavnesh Kulsheshtha, CIT DR

Section 11(1)(a)Section 11(1)(d)Section 12Section 12ASection 131Section 143(3)

…ough the bare provisions of the Act, we hold that 15% accumulation is allowed on the income from property held under trust. 26. These provisions have been further clarified by the Hon’ble Supreme Court in the case of Addl. CIT Vs. A.L.N. Rao Charitable Trust 216 ITR 697 wherein lordships has explained the law with an example of Rs. 1,00,000/- gross income and assuming an expenditure of Rs. 20,000/-, Court has held that Rs. 25,000/- being 25% (now 15%) of gross receipts will be allowed as accumulation u/s 11 (1)(a). 27. For the sake of ready reference, the relevant part of the order of the Hon’ble Supreme Court…

Maharishi Markandeshwar Trust, Haryana vs. DCIT, Central Circle Karnal, Karnal

In the result, the appeals of the assessee are allowed on both the grounds

ITA 1966/DEL/2021[2009-10]Status: DisposedITAT Delhi27 Jun 2022AY 2009-10

Bench: Sh. A.D. Jaindr. B. R. R. Kumarita No. 1966/Del/2021 : Asstt. Year: 2009-10 Ita No. 1967/Del/2021 : Asstt. Year: 2010-11 Ita No. 1968/Del/2021 : Asstt. Year: 2011-12 Ita No. 1969/Del/2021 : Asstt. Year: 2012-13 Ita No. 1970/Del/2021 : Asstt. Year: 2013-14 Ita No. 1971/Del/2021 : Asstt. Year: 2014-15 Ita No. 1972/Del/2021 : Asstt. Year: 2015-16 Maharishi Markandeshwar Trust, Vs Acit, C/O Rajiv Goel & Associates, Central Circle-15, 179, Bank Road, Ambala Cantt., New Delhi Ambala (Appellant) (Respondent) Pan No. Adkpn2266L Assessee By : Sh. Ashwani Kumar, Ca & Sh. Rohit Goel, Ca Revenue By : Sh. Bhavnesh Kulsheshtha, Cit Dr Date Of Hearing: 11.05.2022 Date Of Pronouncement: 27.06.2022

For Appellant: Sh. Ashwani Kumar, CA &For Respondent: Sh. Bhavnesh Kulsheshtha, CIT DR

Section 11(1)(a)Section 11(1)(d)Section 12Section 12ASection 131Section 143(3)

…ough the bare provisions of the Act, we hold that 15% accumulation is allowed on the income from property held under trust. 26. These provisions have been further clarified by the Hon’ble Supreme Court in the case of Addl. CIT Vs. A.L.N. Rao Charitable Trust 216 ITR 697 wherein lordships has explained the law with an example of Rs. 1,00,000/- gross income and assuming an expenditure of Rs. 20,000/-, Court has held that Rs. 25,000/- being 25% (now 15%) of gross receipts will be allowed as accumulation u/s 11 (1)(a). 27. For the sake of ready reference, the relevant part of the order of the Hon’ble Supreme Court…

The ACIT, (Exemption) Circle-1, Ahmedabad vs. Vyakti Vikas Kendra India, Ahmedabad

The appeal of the Revenue is dismissed

ITA 687/AHD/2019[2008-09]Status: DisposedITAT Ahmedabad12 Jan 2022AY 2008-09

For Appellant: Shri S. N. Soparkar, Sr. Advocate with Shri Parin ShahFor Respondent: Shri Alpesh Parmar, Sr. D.R

Section 11Section 11(1)Section 11(1)(a)Section 11(2)Section 12ASection 234BSection 250(6)

…tion 11(1)(a) of the Act , could not have been restricted and was eligible for accumulation of 15% of gross receipt from all streams of Its income". Also references in that order has been made of the Hon'ble Apex Court. Addl CIT V.A.L.N. Rao Charitable Trust (216 ITR 697) wherein it is held "Sec. 11, sub-s. (1)(a) operates on its own. By its operation two types of income earned by the trust during the previous year from its properties are given exemption from income-tax, (i) that part of the income of previous year which is actually spent for charitable or religious purposes in that year: and (ii) out of the unsp…

Rustomjee Kerwalla Foudnation, Mumbai vs. DCIT (E) 2(1), Mumbai

In the result, the appeal of assessee is allowed

ITA 781/MUM/2019[2014-15]Status: DisposedITAT Mumbai31 Aug 2021AY 2014-15

Bench: Sri Mahavir Singh, Vp & Sri Manoj Kumar Aggarwal, Am Aayakr Apila Sam./ Ita No. 781/Mum/2019 (Inaqa-Arna Baya- / Assessment Year 2014-15) Rustomjee Kerawalla The Dy. Commissioner Of Foundation Income Tax, Circle-2(1) 3Rd 5Th Floor, Kerawalla Room No.519, Floor, Chambers, 25, P.J. Piramal Chambers, Vs. Ramchandani Marg, Colaba, Lalbaug, Parel, Appolo Bunder, Mumbai-400 012 Mumbai-400 039 .. (Apilaaqai- / Appellant) (P`%Yaqaai- / Respondent) स्थामी रेखा िं./Pan No. Aaatr3480R अऩीराथी की ओय े / Appellant By : Shri Satish Mody, Ar प्रत्मथी की ओय े / Respondent By : Shri Bharat Andhle, Dr स नवाई की तारीख / Date Of Hearing: 10.08.2021 घोषणा की तारीख / Date Of Pronouncement : 31.08.2021 Aadosa / O R D E R भहावीय स िंह, उऩाध्मक्ष के द्वाया / Per Mahavir Singh, Vp: This Appeal Of Assessee Is Arising Out Of The Order Of Commissioner Of Income Tax (Appeals)-1, Mumbai [In Short Cit(A)], In Appeal No. Cit(A)-1/176/Dcit(E)-2(1)/2016-17 Vide Order Dated 20.11.2018. The Assessment Was Framed By The Asst. Commissioner Of Income Tax (Exemption), Circle-2(1), Mumbai (In Short ‘Dcit/ Ao’) For The A.Y. 2014-15 Vide Order Dated 28.09.2016 Under Section 143(3) Of The Income Tax Act, 1961 (Hereinafter ‘The Act’).

For Appellant: Shri Satish Mody, ARFor Respondent: Shri Bharat Andhle, DR

Section 11Section 11(1)(a)Section 143(3)

…deduction of 15% for accumulation will not be allowed in case of deficit but such 15% accumulation is allowable irrespective of whether 15% of income have been applied or not. Similar is the position in the case of ACIT vs. A.L.N. Rao Charitable Trust (1995) 216 ITR 697 (SC) here the meaning of applied in this context means that the income is actually applied for the charitable or religious purposes of the trust but the word applied need not necessarily imply spent. Even if the income is irretrievably earmarked and allocated for the charitable or religious purposes or purposes it may be under section 11 (1)(a) o…

M/S. Calcutta Cricket & Football Club, Kolkata vs. ITO, Exemption, Ward 1(1). Kolkata, Kolkata

In the result, appeal of the assessee is allowed

ITA 499/KOL/2019[2012-13]Status: DisposedITAT Kolkata05 Feb 2021AY 2012-13

Bench: Sri J. Sudhakar Reddy, Hon’Ble & Sri Sanjay Garg, Hon’Ble) [Virtual Court Hearing] M/S. Calcutta Cricket & Football Club......................................................................……....….....Appellant 10B, Middleton Row Kolkata – 700 071 [Pan : Aaccc 6337 P] Vs. Income Tax Officer, Exemption – Ward(1), Kolkata…………….....................….…....…… Respondent Appearances By: Shri J.P. Khaitan, Sr. Advocate & Shri Manoj Kataruka, Advocate, Appeared On Behalf Of The Assessee. Shri Supriyo Pal, Addl. Cit D/R, Appearing On Behalf Of The Revenue. Date Of Concluding The Hearing : January 13Th, 2021 Date Of Pronouncing The Order : February 5Th, 2021 Order Per J. Sudhakar Reddy, Am :-

Section 11(1)(a)Section 11(2)Section 250

…extract the relevant part of the judgments We extract the relevant part of the judgments of the Hon’ble Supreme Court on this issue on this issue for ready reference:- a) Addl. CIT v. A.L.N. Rao Charitable Trust Addl. CIT v. A.L.N. Rao Charitable Trust [1995] 216 ITR 697/ 83 Taxman [1995] 216 ITR 697/ 83 Taxman wherein, it was held as follows:- 252 (SC), wherein, it was held as follows: “12. In the light of the aforesaid discussion and keeping in view the illustration which In the light of the aforesaid discussion and keeping in view the illustration which In the light of the aforesaid discussion and keeping in v…

Udhna Academy Education Trust, Surat vs. The ACIT, Circle-2, Surat

In the result, appeal of the assessee is allowed

ITA 3023/AHD/2015[2011-12]Status: DisposedITAT Surat09 Nov 2020AY 2011-12

Bench: Shri Pawan Singh & Shri Arjun Lal Saini(Virtual Hearing) आ.अ.सं./I.T.A No.3023/Ahd/2015 "नधा"रण वष"/Assessment Year: 2011-12 Udhna Academy Education Trust, V The Assistant Commissioner Central Road No.14, Udhyog Nagar S Of Income Tax, Circle-2, Surat. Sangh, Udhna, Surat – 394 210. . [Pan: Aaatu 0431 F] अपीलाथ" / Appellant ""यथ"/Respondent

Section 11Section 11(1)(a)Section 11(6)Section 143(3)

…आयकर अपील"य अ"धकरण, सुरत "यायपीठ, सुरत IN THE INCOME TAX APPELLATE TRIBUNAL SURAT BENCH, SURAT BEFORE SHRI PAWAN SINGH, JUDICIAL MEMBER AND SHRI ARJUN LAL SAINI, ACCOUNTANT MEMBER (Virtual Hearing) आ.अ.सं./I.T.A No.3023/AHD/2015 "नधा"रण वष"/Assessment Year: 2011-12 Udhna Academy Education Trust, V The Assistant Commissioner Central Road No.14, Udhyog Nagar s of Income Tax, Circle-2, Surat. Sangh, Udhna, Surat – 394 210. . [PAN: AAATU 0431 F] अपीलाथ" / Appellant ""यथ"/Respondent "नधा"रतीक"ओर से /Assessee by Shri M.K.Patel – AR राज"वक"ओर से /Revenue by Shri B.K.Panda – Sr.DR सुनवाई की तारीख/ Date of hearing: 09.1…

ACIT v. A.L.N. Rao Charitable Trust

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Judgments citing ACIT v. A.L.N. Rao Charitable Trust

The Institute of Indian Foundrymen., Kolkata vs. ITO, Ward-1(3), Exempt, Kolkata.

The Institute of Indian Foundrymen, Kolkata vs. ITO, Ward- 1(3), Exempt, Kolkata.

The Institute of Indian Foundrymen, Kolkata vs. ITO, Ward-1(3), Exempt, Kolkata.

Indian Chamber of Commerce, Kolkata vs. DCIT, Cir-1(1), (Exemption), Kolkata.

Indian Chamber of Commerce., Kolkata vs. DCIT, Cir-1(1), (Exemption), Kolkata

Jubilee Mission Hospital, Kakkanad vs. The DCIT, Kochi

Jubilee Mission Hospital., Thrissur vs. The DCIT, Kochi

Jubilee Mission Hospital, Thrissur vs. The DCIT, Kochi

Jubilee Mission Hospital, Thrissur vs. The DCIT, Thrissur

Maharishi Markandeshwar Trust, Haryana vs. DCIT, Central Circle Karnal, Karnal

Maharishi Markandeshwar Trust, Haryana vs. DCIT, Central Circle, Karnal

Maharishi Markandeshwar Trust, Haryana vs. DCIT, Central Circle Karnal, Karnal

Maharishi Markandeshwar Trust, Haryana vs. DCIT, Central Circle Karnal, Karnal

Maharishi Markandeshwar Trust, Haryana vs. DCIT, Central Circle Karnal, Karnal

Maharishi Markandeshwar Trust, Haryana vs. DCIT, Central Circle Karnal, Karnal

Maharishi Markandeshwar Trust, Haryana vs. DCIT, Central Circle Karnal, Karnal

The ACIT, (Exemption) Circle-1, Ahmedabad vs. Vyakti Vikas Kendra India, Ahmedabad

Rustomjee Kerwalla Foudnation, Mumbai vs. DCIT (E) 2(1), Mumbai

M/S. Calcutta Cricket & Football Club, Kolkata vs. ITO, Exemption, Ward 1(1). Kolkata, Kolkata

Udhna Academy Education Trust, Surat vs. The ACIT, Circle-2, Surat