CIT v. CUTCHI MEMON UNION

155 ITR 51High Court#22773 most cited
3

judgments rely on this decision, according to BharatTax’s citation analysis of 348,252 Indian tax judgments — from 2020 to 2023.

Judgments citing CIT v. CUTCHI MEMON UNION

St Joseph'S Development Trust, Theni vs. ITO, Exemptions Ward, Madurai

In the result, appeal filed by the assessee is dismissed

ITA 588/CHNY/2023[2017-18]Status: DisposedITAT Chennai29 Dec 2023AY 2017-18

Bench: Shri Mahavir Singh, Hon’Ble & Shri Manjunatha. G, Hon’Bleआयकर अपीलसं./Ita No.: 588/Chny/2023 िनधा"रण वष" / Assessment Year: 2017-18 St. Joseph’S Development Trust Income Tax Officer, 1, Genguvarpatti, V. Exemption Ward, Theni – 625 203. No. 12, Vp Rathinsamy Nadar [Pan: Aabts-2424-F] Road, Cr Building, Bibikulam, Madurai-625 002. (अपीलाथ"/Appellant) (""यथ"/Respondent) : Shri. N.V. Lakshmi, Advocate अपीलाथ" क" ओर से/Appellant By ""यथ" क" ओर से/Respondent By : Shri. Ar V Sreenivasan, Addl. Cit सुनवाई क" तारीख/Date Of Hearing : 26.12.2023 घोषणा क" तारीख/Date Of Pronouncement : 29.12.2023 आदेश /O R D E R Per Mahavir Singh:

For Respondent: Shri. AR V Sreenivasan, Addl. CIT
Section 11(1)(d)Section 12ASection 143(2)Section 143(3)

…ted and the assessment order are considered. The appellant has filed online submission that the St. Joseph's Development Trust's (SJDT's) transactions differ when compared to the decision of the Hon'ble High court in the case CIT Vs Kutchi Mernon Union (Kar.) 155 ITR 51. On the one hand, the appellant has argued that SJDT has not given any loan to the beneficiaries; the beneficiaries have refunded the funds received as assistance to SJDT in trust to form a Micro Finance institution for their sustainable development; and the donor agency who have given the grants have clearly mentioned and laid down the conditions…

M/S Navodaya Grama Vikas Charitable Trust, Mangalore vs. The Assistant Commissioner of Income Tax (Exemptions) Circle-1, Mangalore

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

ITA 553/BANG/2018[2014-15]Status: DisposedITAT Bangalore16 Oct 2020AY 2014-15

Bench: Shri Chandra Poojari & Smt. Beena Pillai

For Appellant: Shri V.Srinivasan, AdvocateFor Respondent: Smt. R. Premi, JCIT (D.R)
Section 11Section 12ASection 13(1)(c)Section 13(2)Section 143Section 143(3)Section 147Section 148Section 151

…erefore, the loan granted would be regarded as application of income in terms of Circular No.100 dated 24/01/1973. Infact, the said Circular has also been considered by the Hon’ble jurisdictional High Court in the case of CIT V. CUTCHI MEMON UNION reported in 155 ITR 51 [Kar], wherein the Hon’ble High Court has held that the amounts received out of loans given earlier would have to be included as income. The following observations of the Hon’ble High Court at page [53] are relevant : “We do not think that any such deeming provision is necessary in regard to the money received by the trust from its beneficiaries.…

M/S.Navodaya Grama Vikas Charitable Trust, Mangalore vs. The Assistant Commissioner of Income Tax (Exemptions) Circle-1, Mangalore

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

ITA 552/BANG/2018[2009-10]Status: DisposedITAT Bangalore16 Oct 2020AY 2009-10

Bench: Shri Chandra Poojari & Smt. Beena Pillai

For Appellant: Shri V.Srinivasan, AdvocateFor Respondent: Smt. R. Premi, JCIT (D.R)
Section 11Section 12ASection 13(1)(c)Section 13(2)Section 143Section 143(3)Section 147Section 148Section 151

…erefore, the loan granted would be regarded as application of income in terms of Circular No.100 dated 24/01/1973. Infact, the said Circular has also been considered by the Hon’ble jurisdictional High Court in the case of CIT V. CUTCHI MEMON UNION reported in 155 ITR 51 [Kar], wherein the Hon’ble High Court has held that the amounts received out of loans given earlier would have to be included as income. The following observations of the Hon’ble High Court at page [53] are relevant : “We do not think that any such deeming provision is necessary in regard to the money received by the trust from its beneficiaries.…

CIT v. CUTCHI MEMON UNION (155 ITR 51) — Cited in 3 Judgments | BharatTax