CIT v. East India Charitable Trust

206 ITR 152High Court1994#13190 most cited
8

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2016 to 2023.

Also reported as

73 Taxmann 880

Judgments citing CIT v. East India Charitable Trust

POONA PANJARPOLE TRUST,PUNE vs. INCOME TAX OFFICER (EXEMPTION), WARD-1(2), PUNE

In the result, the appeal filed by the assessee stands allowed

ITA 163/PUN/2023[2017-18]Status: DisposedITAT Pune06 Oct 2023AY 2017-18
For Appellant: Shri Suhas BoraFor Respondent: Shri M. G. Jasnani
Section 11Section 12ASection 143(3)Section 194ASection 80G

…IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH “B”, PUNE BEFORE SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER AND SHRI S. S. VISWANETHRA RAVI, JUDICIAL MEMBER आयकर अपील सं. / ITA No.163/PUN/2023 िनधा"रण वष" / Assessment Year : 2017-18 Poona Panjarpole Trust, Vs. ITO (Exemption), 461/3, Sadashiv Peth, Ward-1(2), Pune. Pune- 411030. PAN : AAATP1774C Appellant Respondent Assessee by : Shri Suhas Bora Revenue by : Shri M. G. Jasnani Date of hearing : 06.09.2023 Date of pronouncement : 06.10.2023 आदेश / ORDER PER INTURI RAMA RAO, AM: This is an appeal filed by the assessee directed against the order of the National Facele…

INCOME-TAX OFFICER (EXEMPTIONS),, PUNE vs. POONA PANJARPOLE TRUST, PUNE

In the result, the appeal filed by the Revenue stands dismissed

ITA 846/PUN/2022[2015-16]Status: DisposedITAT Pune06 Oct 2023AY 2015-16
For Appellant: Shri Suhas BoraFor Respondent: Shri M. G. Jasnani
Section 11Section 12ASection 143(1)Section 154Section 80G

…IN THE INCOME TAX APPELLATE TRIBUNAL PUNE BENCH “B”, PUNE BEFORE SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER AND SHRI S. S. VISWANETHRA RAVI, JUDICIAL MEMBER आयकर अपील सं. / ITA No.846/PUN/2022 िनधा"रण वष" / Assessment Year : 2015-16 ITO (Exemptions), Pune. Vs. Poona Panjarpole Trust, 461/3, Sadashiv Peth, Pune- 411030. PAN : AAATP1774C Appellant Respondent Revenue by : Shri M. G. Jasnani Assessee by : Shri Suhas Bora Date of hearing : 06.09.2023 Date of pronouncement : 06.10.2023 आदेश / ORDER PER INTURI RAMA RAO, AM: This is an appeal filed by the Revenue directed against the order of the National Faceless Appeal Ce…

ASSISTANT COMMISSIONER OF INCOME TAX 17(2)), MUMBAI vs. NAVJBAI RATAN TATA TRUST, MUMBAI

In the result, appeal of the assessee is allowed and appeal of the Revenue is dismissed

ITA 1317/MUM/2018[2008-09]Status: DisposedITAT Mumbai24 Jan 2022AY 2008-09
Section 10(34)Section 11Section 11(1)Section 11(1)(a)Section 11(5)Section 11(5)(xii)Section 13(1)(d)Section 143(3)Section 147Section 148

…t. If only part of the sale proceeds are reinvested, the excess of the re-investment over the cost of the transferred asset is deemed to be applied and qualifies for exemption. The Calcutta High Court, in the case of CIT vs. East India Charitable Trust (1996) 206 ITR 152 has held that the term “income” includes capital gains, and therefore it may be invested within the same year or the next year, as contemplated in the explanation to section 11(1). Section 15(1)(d) provides that the income of any public trust will not be exempt u/s.11 if it holds for any period during a previous year any shares in a company (othe…

ITO(EXEMPTION) WARD-1, CHENNAI vs. HINDUSTAN CHAMBER OF COMMERCE, CHENNAI

In the result, the appeals filed by the Revenue are dismissed

ITA 2087/CHNY/2019[2015-16]Status: DisposedITAT Chennai13 Feb 2020AY 2015-16

Bench: Shri Inturi Rama Rao & Shri Duvvuru Rl Reddyआयकर अपील सं./I.T.A.Nos.2086 & 2087/Chny/2019 ("नधा"रण वष" / Assessment Years: 2013-14 & 2015-16) Vs M/S. The Income Tax Officer Hindustan Chamber Of (Exemptions), Commerce, Ward 1, Chennai – 34. Greams Dugar, 5Th Floor South Wing, No.149, Greams Road, Chennai – 600 006. Pan : Aaach 2185E (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/ Appellant By : Ms. R. Anitha, Jcit ""यथ" क" ओर से/Respondent By : Shri B. Gowthaman, Ca

For Appellant: Ms. R. Anitha, JCITFor Respondent: Shri B. Gowthaman, CA
Section 11Section 12ASection 2(15)Section 25

…आयकर अपील"य अ"धकरण, ‘डी’ "यायपीठ, चे"नई IN THE INCOME TAX APPELLATE TRIBUNAL , ‘D’ BENCH, CHENNAI "ी इंटूर" रामा राव, लेखा सद"य एवं "ी धु"वु" आर.एल रे"डी,"याियक सद"य के सम" BEFORE SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER AND SHRI DUVVURU RL REDDY, JUDICIAL MEMBER आयकर अपील सं./I.T.A.Nos.2086 & 2087/Chny/2019 ("नधा"रण वष" / Assessment Years: 2013-14 & 2015-16) Vs M/s. The Income Tax Officer Hindustan Chamber of (Exemptions), Commerce, Ward 1, Chennai – 34. Greams Dugar, 5th Floor South Wing, No.149, Greams Road, Chennai – 600 006. PAN : AAACH 2185E (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/ Appellan…

ITO(EXEMPTION) WARD-1, CHENNAI vs. HINDUSTAN CHAMBER OF COMMERCE, CHENNAI

In the result, the appeals filed by the Revenue are dismissed

ITA 2086/CHNY/2019[2013-14]Status: DisposedITAT Chennai13 Feb 2020AY 2013-14

Bench: Shri Inturi Rama Rao & Shri Duvvuru Rl Reddyआयकर अपील सं./I.T.A.Nos.2086 & 2087/Chny/2019 ("नधा"रण वष" / Assessment Years: 2013-14 & 2015-16) Vs M/S. The Income Tax Officer Hindustan Chamber Of (Exemptions), Commerce, Ward 1, Chennai – 34. Greams Dugar, 5Th Floor South Wing, No.149, Greams Road, Chennai – 600 006. Pan : Aaach 2185E (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/ Appellant By : Ms. R. Anitha, Jcit ""यथ" क" ओर से/Respondent By : Shri B. Gowthaman, Ca

For Appellant: Ms. R. Anitha, JCITFor Respondent: Shri B. Gowthaman, CA
Section 11Section 12ASection 2(15)Section 25

…आयकर अपील"य अ"धकरण, ‘डी’ "यायपीठ, चे"नई IN THE INCOME TAX APPELLATE TRIBUNAL , ‘D’ BENCH, CHENNAI "ी इंटूर" रामा राव, लेखा सद"य एवं "ी धु"वु" आर.एल रे"डी,"याियक सद"य के सम" BEFORE SHRI INTURI RAMA RAO, ACCOUNTANT MEMBER AND SHRI DUVVURU RL REDDY, JUDICIAL MEMBER आयकर अपील सं./I.T.A.Nos.2086 & 2087/Chny/2019 ("नधा"रण वष" / Assessment Years: 2013-14 & 2015-16) Vs M/s. The Income Tax Officer Hindustan Chamber of (Exemptions), Commerce, Ward 1, Chennai – 34. Greams Dugar, 5th Floor South Wing, No.149, Greams Road, Chennai – 600 006. PAN : AAACH 2185E (अपीलाथ"/Appellant) (""यथ"/Respondent) अपीलाथ" क" ओर से/ Appellan…

ITO (E), GHAZIABAD vs. M/S. DAYANAND PUSHPA DEVI CHARITABLE TRUST, GHAZIABAD

In the result, the appeal of the Revenue is dismissed

ITA 2990/DEL/2017[2013-14]Status: DisposedITAT Delhi27 Aug 2019AY 2013-14

Bench: : Ms. Suchitra Kamble & Shri Prashant Maharishiassessment Year: 2013-14

Section 11Section 11(1)Section 11(1)(a)Section 12ASection 2(24)

…appellant to the 4 benefit of provisions of section 11(1A) or 11(1)(a) i.e. making investment in capital/revenue expenditure for benefit u/s 11. This has also been observed by Hon'ble Calcutta High Court in the case of CIT vs M/s East India Charitable Trust 206 ITR 152 the AO has not challenged the application of capital gain by the appellant for the charitable purposes within the meaning of provisions of section 11(1)(a) read with section 2(24) and the appellant is holding valid registration u/s 12AA. As per section 11, the trust has to be registered u/s 12AA and income derived from property held under trust,…

DCIT, CIR-12, KOLKATA, KOLKATA vs. M/S THE DIAMOND COMPANY LTD., KOLKATA

In the result, Revenue’s appeal stands dismissed

ITA 326/KOL/2014[2009-10]Status: DisposedITAT Kolkata24 Aug 2016AY 2009-10

Bench: Shri Waseem Ahmed & Shri S.S.Viswanethra Raviassessment Years:2009-10

Section 111ASection 143(2)Section 143(3)Section 14ASection 2(14)

…after the relinquishment – CIT v. Rasiklal Maenklal (HUF) [1980] 177 ITR 198 (SC) On the other hand, extinguishment refers not to extinguishment of asset itself but to extinguishment of holder’s right to the assets – CIT v. East India Charitable Trust [1994] 206 ITR 152/73 Taxman 380(Cal). Redemption of ITA No.326/Kol/2014 A.Y. 2009-10 DCIT Cir-12 Kol. vs. M/s The Diamond Co. Ltd. Page 4 preference shares by a company; squarely comes within the phrase ‘sale, exchange, or relinquishment of the asset’ and, consequently, it is treated as transfer – Anarkali Sarabhai v. CIT [1977] 90 Taxman 509 (SC). However, if the…

ADIT (E) RG I, MUMBAI vs. MEHTA CHARITY TRUST, MUMBAI

The appeal of the Revenue is dismissed

ITA 1069/MUM/2013[2004-05]Status: DisposedITAT Mumbai11 Mar 2016AY 2004-05

Bench: Shri Joginder Singh & Shri B.R. Baskaranassessment Year: 2004-05 The Ddit(E)I(1), Mehta Charity Trust, R. No.504, Piramal Top Floor, Mehta Mahal, 15Th बनाम/ Chambers, 5Thfloor, Parel, Mathew Road, Opera House, Vs. Mumbai-400012 Mumbai-400004 (राज"व /Revenue) ("नधा"रती /Assessee) P.A. No.Aaatm5060A

Section 11Section 11(1)Section 143(1)Section 147Section 148Section 263

…onal Society vs DIT(supra), wherein, the entire consideration was used to acquired new asset, therefore, there was no difficulty as nothing will be taxable u/s 11(1A)(a)(i) of the Act. The decision and the ratio laid down in CIT vs East India Charitable Trust 206 ITR 152(Calcutta) further supports the case of the assessee, if the capital gain is applied for charitable purposes of the assessee, not by acquiring a new asset, but for other charitable purposes, then there is no 30 Mehta Charity Trust reason why its not be considered as application of income for charitable purposes. Thus, we find no merit in the appea…

CIT v. East India Charitable Trust (206 ITR 152) — Cited in 8 Judgments | BharatTax