Bank of India Retired Employees Medical Assistance Trust v. ITO

172 ITD 78Income Tax Appellate Tribunal2018#16981 most cited
5

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2021 to 2023.

Issues it is cited on

section 11(1)(d)corpus fundcorpus donationproviso to section 2(15)section 11(1)section 2(15)section 12aasection 12asection 11previous yearsection 148section 147

Judgments citing Bank of India Retired Employees Medical Assistance Trust v. ITO

Akshay Educational & Social Welfare Charitable Trust, Bodhgaya vs. DCIT, Circle-3, Gaya

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

ITA 3/PAT/2017[2011-12]Status: DisposedITAT Patna11 Jan 2023AY 2011-12

Bench: Shri Sanjay Garg & Shri Rajesh Kumari.T.A. No.03/Pat/2017 Assessment Year: 2011-12 Akshay Educational & Social Welfare Charitable Trust............……….……Appellant Amawa (Thakar), Bodhgaya-824234. [Pan:Aacta5613R] Vs. Dcit, Circle-3, Gaya….....………............…............……........……...…..…..Respondent Appearances By: Shri A.K. Rastogi, Sr. Adv. & Shri Rakesh Kumar, Advocate, Appeared On Behalf Of The Appellant. Smt. Rinku Singh, Cit-Dr, Appeared On Behalf Of The Respondent. Date Of Concluding The Hearing : November 21, 2022 Date Of Pronouncing The Order : January 11, 2023 आदेश / Order संजय गग", "या"यक सद"य "वारा / Per Sanjay Garg: The Present Appeal Has Been Preferred By The Assessee Against The Order Dated 26.08.2016 Of The Commissioner Of Income Tax (Appeals)-1, Patna [Hereinafter Referred To As ‘Cit(A)’] Passed U/S 250 Of The Income Tax Act (Hereinafter Referred To As The ‘Act’). The Assessee In This Appeal Has Taken The Following Grounds Of Appeal:

Section 11Section 12ASection 250

…not registered under Section 12A of the I.T. Act is capital in nature or revenue has been set at rest by the order of the Hon'ble 'B’ Bench of ITAT, Mumbai in the case of Bank of India Retired Employees Medical Assistance Trust Vs. ITO (Exemption) reported in 172 ITD 78 (copy enclosed at page 5 -12 of the PB) wherein the Hon'ble Tribunal relying on the judgment of coordinate bench of Tribunal and Delhi High Court has held that corpus fund is in the nature of capital receipt and therefore the same cannot be brought to tax under section 2(24)(iia) of the Act even in absence of registration under the Income Tax Act.…

The Mysore City Police Welfare Trust, Mysore vs. Income Tax Officer Ward-1(3), Mysore

In the result, the appeal filed by the assessee is allowed for statistical purposes

ITA 1549/BANG/2018[2011-12]Status: DisposedITAT Bangalore08 Apr 2022AY 2011-12

Bench: Shri Chandra Poojari, Am & Shri George George K, Jm

For Appellant: Sri.V.Srinivasan, AdvocateFor Respondent: Smt.Priyadarshini Besaganni, Addl.CIT-DR
Section 11(1)(d)Section 12ASection 143(3)Section 148Section 2(15)

…e with a specific direction. However, it was held by the Hon’ble Court that the law does not require the direction should be in writing. 7.1 The Mumbai Tribunal in the case of Bank of India Retired Employees Medical Assistance Trust v. ITO reported in (2018) 172 ITD 78 had held that the corpus donation received by the assessee-trust has to be applied for specific purpose for which respective fund was created and would be treated as a capital receipt. Therefore, the same cannot be brought to tax despite the fact in that case the assessee-trust was not registered u/s 12A of the I.T.Act. 7.2 In the instant case, t…

The Mysore City Police Welfare Trust, Mysore vs. Income Tax Officer Ward-1(3), Mysore

In the result, the appeal filed by the assessee is allowed for statistical purposes

ITA 1548/BANG/2018[2010-11]Status: DisposedITAT Bangalore08 Apr 2022AY 2010-11

Bench: Shri Chandra Poojari, Am & Shri George George K, Jm

For Appellant: Sri.V.Srinivasan, AdvocateFor Respondent: Smt.Priyadarshini Besaganni, Addl.CIT-DR
Section 11(1)(d)Section 12ASection 143(3)Section 148Section 2(15)

…e with a specific direction. However, it was held by the Hon’ble Court that the law does not require the direction should be in writing. 7.1 The Mumbai Tribunal in the case of Bank of India Retired Employees Medical Assistance Trust v. ITO reported in (2018) 172 ITD 78 had held that the corpus donation received by the assessee-trust has to be applied for specific purpose for which respective fund was created and would be treated as a capital receipt. Therefore, the same cannot be brought to tax despite the fact in that case the assessee-trust was not registered u/s 12A of the I.T.Act. 7.2 In the instant case, t…

Mysore City Police Welfare Trust, Mysore vs. Income Tax Officer Ward-1(3), Mysore

In the result, the appeal filed by the assessee is allowed for statistical purposes

ITA 1547/BANG/2018[2009-10]Status: DisposedITAT Bangalore08 Apr 2022AY 2009-10

Bench: Shri Chandra Poojari, Am & Shri George George K, Jm

For Appellant: Sri.V.Srinivasan, AdvocateFor Respondent: Smt.Priyadarshini Besaganni, Addl.CIT-DR
Section 11(1)(d)Section 12ASection 143(3)Section 148Section 2(15)

…e with a specific direction. However, it was held by the Hon’ble Court that the law does not require the direction should be in writing. 7.1 The Mumbai Tribunal in the case of Bank of India Retired Employees Medical Assistance Trust v. ITO reported in (2018) 172 ITD 78 had held that the corpus donation received by the assessee-trust has to be applied for specific purpose for which respective fund was created and would be treated as a capital receipt. Therefore, the same cannot be brought to tax despite the fact in that case the assessee-trust was not registered u/s 12A of the I.T.Act. 7.2 In the instant case, t…

Veeravel Trust, Tiruchengode vs. ITO, Exemption Ward, Salem

In the result, appeal filed by the assessee is dismissed

ITA 2064/CHNY/2019[2014-15]Status: DisposedITAT Chennai22 Jul 2021AY 2014-15

Bench: Shri Duvvuru Rl Reddy & Shri G. Manjunatha

For Appellant: Mr. G.Johnson, Addl.CIT
Section 11Section 11(1)(d)Section 12ASection 143(1)Section 234A

…etamber Deharshar Upshraya Trust 6 C/o. Anoopchandji Karnava Vs. ACIT (2017) 4 TMI-765 (Mum) 2. ITO Vs.Serum Institute of India Research Foundation (2018) 169 ITD 271(Pune) 3. Bank of India Retired Employees Medical Assistance Trust Vs. ITO(Exemption) 2018 172 ITD 78(Mum) 4. Chandraprabhu Jain Sweatamber MandirVs.ACIT (2016) 50 ITR (Trib) 0355 (Mum) 8. The learned DR, on the other hand, strongly supporting order of the learned CIT(A), submitted that conditions precedent for claiming exemption u/s.11 is registration of trust u/s.12AA of the Act, and hence, in absence of registration of trust u/s. 12AA of t…

Bank of India Retired Employees Medical Assistance Trust v. ITO (172 ITD 78) — Cited in 5 Judgments | BharatTax