CIT v. Institute of Banking Personnel Selection

264 ITR 110High Court2003#181 most cited

What is CIT v. Institute of Banking Personnel Selection authority for?

Depreciation is allowable on assets for which the cost has been fully allowed as an application of income under Section 11 in previous years, when computing the income of a charitable trust. Charitable trusts are also entitled to carry forward their deficit.

398

judgments rely on this decision, according to BharatTax’s citation analysis of 372,576 Indian tax judgments — from 2012 to 2026.

Also referred to as

CIT v. Institute of Banking Personnel Selection · Section 11 · Section 11(1) · depreciation allowance for trusts · application of income · capital expenditure trusts · carry forward of deficit · charitable trust exemption · computing trust income

Sections most often in play

Section 143(3)Section 11Section 12ASection 147Section 11(1)(a)Section 11(6)Section 12Section 13(8)

Issues it is cited on

section 11(1)(a)section 11(1)application of incomecapital expendituresection 12asection 11section 10section 12previous yearsection 13personsection 25

Judgments citing CIT v. Institute of Banking Personnel Selection

ITO (E) 1(4), Mumbai vs. Kherwadi Social Welfare Association, Mumbai

In the result, appeal of the Revenue is dismissed

ITA 4039/MUM/2017[2012-13]Status: DisposedITAT Mumbai29 Dec 2017AY 2012-13

Bench: Shri R.C.Sharma, Am Ito (E) 1(4) Vs. Kherwadi Social Welfare Association R.No.507, 5Th Floor Parishramalaya, Piramal Chambers Kherwadi, Bandra (W) Lalbaug, Mumbai – 400 012 Mumbai – 400 051 Pan/Gir No. Aaatm5552F (Appellant) .. (Respondent) Assessee By None Revenue By Ms. M. Hemalatha

Section 11Section 12ASection 143(3)

…sing officer have also been distinguished. In this regard I find that the issue is directly covered in appellant's favour by the judgment of Hon'ble Bombay High Court in the case of CIT Vs. Institute of 3 Kherwadi Social Welfare Association Banking Personnel 264 ITR 110 wherein the Hon'ble Court has observed as under: " 4. Question No. 2 herein is identical to the question which was raised before, the Bombay High Court in the case of Director of Income Tax (Exemption) v. Framjee Cawasjee Institute-(1993) 109 CTR 463 (Bom). In that case, the facts were as follows: The assessee was the Trust. It derived its income…

The Assistant Commissioner of Income Tax (Exemption0 Circle- 1, Mangalore vs. M/S Anjuman E Islams, Hubli

In the result, appeals of the Revenue are dismissed

ITA 1702/BANG/2017[2011-12]Status: DisposedITAT Bangalore22 Dec 2017AY 2011-12

Bench: Shri Sunil Kumar Yadav

For Appellant: Shri. Narendra Sharma, AdvocateFor Respondent: Shri. Kumar Ajith, Additional CIT
Section 10(2)Section 11Section 15Section 35Section 35(1)(iv)Section 70

…h later year. The above is the position of law as held in the case of CIT Vs. Maharana of Mewar Charitable Foundation 164 ITR 439 (Raj) CIT Vs. Shri Plot Swetamber Murti Pujak Jain Mandal 211 ITR 293 (Guj,). In CIT Vs. Institute of banking Personnel Selection 264 ITR 110 (Born) it was held that in case of charitable trust whose income is exempt under s. 11 excess of expenditure in the earlier years can be adjusted against income of subsequent years and such adjustment would be application of income for subsequent years and that depreciation is allowable on the assets the cost of which has been fully allowed as ap…

The Dy. Director of Income Tax (Exemption), Ahmedabad vs. Ramanbhai Foundation, Ahmedabad

ITA 3035/AHD/2015[2011-12]Status: DisposedITAT Ahmedabad18 Dec 2017AY 2011-12

Bench: Shri Rajpal Yadav & Shri N.K. Billaiya)

For Appellant: Shri Mudit Nagpal, Sr. D.RFor Respondent: Shri Jigar Patel, A.R

…R 439 (Raj.)]. We may also point out at this state that the aforesaid view of Rajasthan High Court and Gujarat High Court has been consistently followed by other High Courts in the following judgments: (i) Commissioner of Income Tax vs. Institute of Banking [264 ITR 110 (Bom.)]; (ii) Commissioner of Income Tax vs. Siddaramanna Charities Trust [96 ITR 275 (Mys); and (iii) Commissioner of Income Tax vs. Matriseva Trust [242 ITR 20 (Mad.)] 8. It would be fruitful to refer to the discussions contained in Institute of Banking (supra), Per. Hon‟ble Mr. Justice S.H. Kapadia, which is advanced before us by the learned…

ACIT (Exemption) - 1(1), Mumbai vs. Goregaon Sports Club, Mumbai

In the result, both the appeals of Revenue are dismissed

ITA 2141/MUM/2016[2004-05]Status: DisposedITAT Mumbai06 Dec 2017AY 2004-05

Bench: Sri Mahavir Singh, Jm & Sri N.K. Pradhan, Am

For Appellant: Haresh P. Sheth, ARFor Respondent: V. Vidhyadhar, DR
Section 11Section 11(1)(a)Section 143(3)Section 260

…is pending before Supreme Court, hence, set off was not allowed by observing in Para 4.3(10) & 4.4 as under: - “4.3(10) The assessee in support of its claim has placed reliance upon the judgment in the case of CIT v/s Institute of Banking Personnel Selection 264 ITR 110 (Bom.) wherein the issue of allowability of set off of adjustment of expenses incurred by the Trust for charitable and religious purposes in the earlier years against the income earned by the Trust in the subsequent year has been decided in favour of the assessee. The Department has not filed SLP against this order due to tax effect being below t…

ACIT (Exemption) - 1(1), Mumbai vs. Goregaon Sports Club, Mumbai

In the result, both the appeals of Revenue are dismissed

ITA 2140/MUM/2016[2005-06]Status: DisposedITAT Mumbai06 Dec 2017AY 2005-06

Bench: Sri Mahavir Singh, Jm & Sri N.K. Pradhan, Am

For Appellant: Haresh P. Sheth, ARFor Respondent: V. Vidhyadhar, DR
Section 11Section 11(1)(a)Section 143(3)Section 260

…is pending before Supreme Court, hence, set off was not allowed by observing in Para 4.3(10) & 4.4 as under: - “4.3(10) The assessee in support of its claim has placed reliance upon the judgment in the case of CIT v/s Institute of Banking Personnel Selection 264 ITR 110 (Bom.) wherein the issue of allowability of set off of adjustment of expenses incurred by the Trust for charitable and religious purposes in the earlier years against the income earned by the Trust in the subsequent year has been decided in favour of the assessee. The Department has not filed SLP against this order due to tax effect being below t…

DCIT (E) 1(1), Mumbai vs. K J Somaiya Medical Trust, Mumbai

Appeal of the Revenue is dismissed

ITA 6646/MUM/2016[2012-13]Status: DisposedITAT Mumbai30 Nov 2017AY 2012-13

Bench: Shri G.S. Pannu & Shri Pawan Singh: A.Y : 2012-13

For Appellant: Shri Suman KumarFor Respondent: Ms. Arati Vissanji
Section 11Section 12ASection 143(3)Section 32

…to a double deduction and he, therefore, disallowed the assessee’s claim for depreciation. The CIT(A) has since allowed the claim of the assessee following the judgment of the Hon'ble Bombay High Court in the case of Institute of Banking Personnel Selection, 264 ITR 110 (Bom). 5. Before us, the only plea of the Department is that the decision of the Hon'ble Bombay High Court in the case of Institute of Banking Personnel Selection (supra) has not been accepted by the Department 4 K.J. Somaiya Medical Trust on merits and on similar issue, a SLP No. 9891 of 2014 has been filed before the Hon'ble Supreme Court in…

ITO (Exemption)-2(3) Mumbai, Mumbai vs. Sayaji-U-Ba Khin Memorial Trust, Mumbai

In the result, appeal of the Revenue is dismissed

ITA 5884/MUM/2016[2011-12]Status: DisposedITAT Mumbai30 Nov 2017AY 2011-12

Bench: Shri G.S. Pannu & Shri Pawan Singh: A.Y : 2011-12

For Appellant: Shri Suman KumarFor Respondent: Shri Rajnikant V. Chaniyari
Section 11Section 143(3)Section 32

…to a double deduction and he, therefore, disallowed the assessee’s claim for depreciation. The CIT(A) has since allowed the claim of the assessee following the judgment of the Hon'ble Bombay High Court in the case of Institute of Banking Personnel Selection, 264 ITR 110 (Bom) as well as the decision of the Tribunal in assessee’s own case (supra). 6. Before us, the plea of the Department is that the decision of the Hon'ble Bombay High Court in the case of Institute of Banking Personnel Selection (supra) has not been accepted by the Department on merits and on a similar issue, SLP (Civil) no. 9891 of 2014 has bee…

DCIT (E) 1(1), Mumbai vs. Karamshi Jethabhai Somaiya Trust, Mumbai

The appeal of the Revenue is dismissed, the Cross-objection of the assessee is allowed

ITA 5435/MUM/2016[2010-11]Status: DisposedITAT Mumbai30 Nov 2017AY 2010-11

Bench: Shri G.S. Pannu & Shri Ram Lal Negi: A.Y : 2010-11

For Appellant: Ms. Aarti VissanjiFor Respondent: Shri Rajesh Kumar Yadav
Section 11Section 143(3)Section 154Section 32

…d in the circumstance of the case and in law, the Tribunal was justified in confirming the order of the CIT(A) to allow the claim of depreciation relying on the decision of this Court in the case of CIT v/s. Institute of Banking Personnel Services reported in 264 ITR 110 (Bom) ignoring the ratio of Hon'ble Supreme Court judgment in the case of Escorts Ltd. V/s. Union of India (199 ITR 43) wherein Hon'ble Supreme Court has held that double deduction cannot be presumed if the same is not specifically provided by law, in addition to normal deduction? (b) Whether on the facts and in the circumstance of the case and…

ACIT (Exemption) - 1(1), Mumbai vs. Jaslok Hospital & Research Centre, Mumbai

ITA 2138/MUM/2016[2011-12]Status: DisposedITAT Mumbai29 Nov 2017AY 2011-12

Bench: Shri Br Baskaran & Shri Ram Lal Negi: (A.Y : 2011-12) The Asst. Commissioner Of Vs M/S. Jaslok Hospital & Income Tax (Exemption)-1(1), Research Centre, 5Th Floor, Room No. 506, 15, Dr. G. Deshmukh Marg, Piramal Chamber, Lalbaug, Mumbai 400 026. Mumbai (Respondent) (Appellant) Pan : Aaaaj0028Q

For Appellant: ShishirDhamije, DRFor Respondent: Shri Indra G Anand, AR
Section 1Section 11Section 142(1)Section 143(3)

…ter considering the decision of Hon'ble Supreme Court in the case of Escorts Ltd (199 1 T 43). 3M/s. Jaslok Hospital & Research Centre 3. That the decision of Hon'ble Bombay High Court in the case of Indian Institute of Banking and Personnel Selection (2003) 264 ITR 110 was not accepted by Revenue, but the appeal was not filed due to the smallness of tax effect. On the issues decided in said order are challenged in Apex Court in other cases hence the issue of double deduction on account of allowing claim of depreciation and carry forward of deficit to adjust as application of income in subsequent years have not…

Deputy Commissioner of Income-Tax, Bangalore vs. M/S.Panchajanya Vidya Peeta Welfare Trust, Bangalore

In the result, all the appeals of the revenue are dismissed

ITA 1790/BANG/2016[2013-14]Status: DisposedITAT Bangalore29 Nov 2017AY 2013-14

Bench: Shri Arun Kumar Garodiaand Shri Laliet Kumar

For Appellant: Shri A. Shankar, AdvocateFor Respondent: Smt. Susan D. George, CIT (DR)
Section 11Section 11(1)(a)Section 70

…uch later year. The above is the position of law as held in the case of CIT Vs. Maharana of Mewar Charitable Foundation 164 ITR 439 (Raj) CIT Vs. Shri Plot SwetamberMurtiPujak Jain Mandal 211 ITR 293 (Guj.). In CIT Vs. Institute of Banking Personnel Selection 264 ITR 110 (Bom), it was held that in case of charitable trust whose income is exempt under s. 11, excess of expenditure in the earlier years can be adjusted against income of subsequent years and such adjustment would be application ITA Nos. 1785 to 1790/Bang/2016 & CO Nos. 52 to 57/Bang/2017 Page 7 of 11 of income for subsequent years and that depreciati…

Deputy Commissioner of Income-Tax, Bangalore vs. M/S.Panchajanya Vidya Peeta Welfare Trust, Bangalore

In the result, all the appeals of the revenue are dismissed

ITA 1789/BANG/2016[2012-13]Status: DisposedITAT Bangalore29 Nov 2017AY 2012-13

Bench: Shri Arun Kumar Garodiaand Shri Laliet Kumar

For Appellant: Shri A. Shankar, AdvocateFor Respondent: Smt. Susan D. George, CIT (DR)
Section 11Section 11(1)(a)Section 70

…uch later year. The above is the position of law as held in the case of CIT Vs. Maharana of Mewar Charitable Foundation 164 ITR 439 (Raj) CIT Vs. Shri Plot SwetamberMurtiPujak Jain Mandal 211 ITR 293 (Guj.). In CIT Vs. Institute of Banking Personnel Selection 264 ITR 110 (Bom), it was held that in case of charitable trust whose income is exempt under s. 11, excess of expenditure in the earlier years can be adjusted against income of subsequent years and such adjustment would be application ITA Nos. 1785 to 1790/Bang/2016 & CO Nos. 52 to 57/Bang/2017 Page 7 of 11 of income for subsequent years and that depreciati…

Deputy Commissioner of Income-Tax, Bangalore vs. M/S.Panchajanya Vidya Peeta Welfare Trust, Bangalore

In the result, all the appeals of the revenue are dismissed

ITA 1788/BANG/2016[2011-12]Status: DisposedITAT Bangalore29 Nov 2017AY 2011-12

Bench: Shri Arun Kumar Garodiaand Shri Laliet Kumar

For Appellant: Shri A. Shankar, AdvocateFor Respondent: Smt. Susan D. George, CIT (DR)
Section 11Section 11(1)(a)Section 70

…uch later year. The above is the position of law as held in the case of CIT Vs. Maharana of Mewar Charitable Foundation 164 ITR 439 (Raj) CIT Vs. Shri Plot SwetamberMurtiPujak Jain Mandal 211 ITR 293 (Guj.). In CIT Vs. Institute of Banking Personnel Selection 264 ITR 110 (Bom), it was held that in case of charitable trust whose income is exempt under s. 11, excess of expenditure in the earlier years can be adjusted against income of subsequent years and such adjustment would be application ITA Nos. 1785 to 1790/Bang/2016 & CO Nos. 52 to 57/Bang/2017 Page 7 of 11 of income for subsequent years and that depreciati…

Deputy Commissioner of Income-Tax, Bangalore vs. M/S.Panchajanya Vidya Peeta Welfare Trust, Bangalore

In the result, all the appeals of the revenue are dismissed

ITA 1787/BANG/2016[2010-11]Status: DisposedITAT Bangalore29 Nov 2017AY 2010-11

Bench: Shri Arun Kumar Garodiaand Shri Laliet Kumar

For Appellant: Shri A. Shankar, AdvocateFor Respondent: Smt. Susan D. George, CIT (DR)
Section 11Section 11(1)(a)Section 70

…uch later year. The above is the position of law as held in the case of CIT Vs. Maharana of Mewar Charitable Foundation 164 ITR 439 (Raj) CIT Vs. Shri Plot SwetamberMurtiPujak Jain Mandal 211 ITR 293 (Guj.). In CIT Vs. Institute of Banking Personnel Selection 264 ITR 110 (Bom), it was held that in case of charitable trust whose income is exempt under s. 11, excess of expenditure in the earlier years can be adjusted against income of subsequent years and such adjustment would be application ITA Nos. 1785 to 1790/Bang/2016 & CO Nos. 52 to 57/Bang/2017 Page 7 of 11 of income for subsequent years and that depreciati…

Deputy Commissioner of Income-Tax, Bangalore vs. M/S.Panchajanya Vidya Peeta Welfare Trust, Bangalore

In the result, all the appeals of the revenue are dismissed

ITA 1786/BANG/2016[2009-10]Status: DisposedITAT Bangalore29 Nov 2017AY 2009-10

Bench: Shri Arun Kumar Garodiaand Shri Laliet Kumar

For Appellant: Shri A. Shankar, AdvocateFor Respondent: Smt. Susan D. George, CIT (DR)
Section 11Section 11(1)(a)Section 70

…uch later year. The above is the position of law as held in the case of CIT Vs. Maharana of Mewar Charitable Foundation 164 ITR 439 (Raj) CIT Vs. Shri Plot SwetamberMurtiPujak Jain Mandal 211 ITR 293 (Guj.). In CIT Vs. Institute of Banking Personnel Selection 264 ITR 110 (Bom), it was held that in case of charitable trust whose income is exempt under s. 11, excess of expenditure in the earlier years can be adjusted against income of subsequent years and such adjustment would be application ITA Nos. 1785 to 1790/Bang/2016 & CO Nos. 52 to 57/Bang/2017 Page 7 of 11 of income for subsequent years and that depreciati…

Deputy Commissioner of Income-Tax, Bangalore vs. M/S.Panchajanya Vidya Peeta Welfare Trust, Bangalore

In the result, all the appeals of the revenue are dismissed

ITA 1785/BANG/2016[2008-09]Status: DisposedITAT Bangalore29 Nov 2017AY 2008-09

Bench: Shri Arun Kumar Garodiaand Shri Laliet Kumar

For Appellant: Shri A. Shankar, AdvocateFor Respondent: Smt. Susan D. George, CIT (DR)
Section 11Section 11(1)(a)Section 70

…uch later year. The above is the position of law as held in the case of CIT Vs. Maharana of Mewar Charitable Foundation 164 ITR 439 (Raj) CIT Vs. Shri Plot SwetamberMurtiPujak Jain Mandal 211 ITR 293 (Guj.). In CIT Vs. Institute of Banking Personnel Selection 264 ITR 110 (Bom), it was held that in case of charitable trust whose income is exempt under s. 11, excess of expenditure in the earlier years can be adjusted against income of subsequent years and such adjustment would be application ITA Nos. 1785 to 1790/Bang/2016 & CO Nos. 52 to 57/Bang/2017 Page 7 of 11 of income for subsequent years and that depreciati…

DDIT (E) II(2), Mumbai vs. National Institute of Construction Management and Research ( Nicmar), Mumbai

In the result, appeal filed by Revenue is dismissed

ITA 4783/MUM/2014[2008-09]Status: DisposedITAT Mumbai27 Nov 2017AY 2008-09
For Appellant: S/Shri Firoze B. Andhyarujina/For Respondent: Shri Suman Kumar-Sr.-DR
Section 11Section 12ASection 254(1)

…n. 3. In the appellate proceedings the ld. Commissioner of Income tax(Appeals) granted relief to the assessee on both the issues by following the decision of the Hon'ble Jurisdictional Bombay High Court rendered in the case of Institute of Banking Personnel (264 ITR 110). Aggrieved by the decision rendered by the ld. CIT(A), the Revenue has filed this appeal before us. 4. We notice that the Ld. Commissioner of Income tax(Appeals) has followed the binding decision of the Hon'ble Jurisdictional Bombay High Court rendered in the case of Institute of Banking Personnel (supra) while deciding both the issues in favou…

DCIT (E) 1(1), Mumbai vs. Aamby International School Academy, Mumbai

In the result, appeal of the Revenue is dismissed

ITA 6649/MUM/2016[2011-12]Status: DisposedITAT Mumbai10 Nov 2017AY 2011-12

Bench: Shri G.S. Pannu & Shri Pawan Singh: A.Y : 2011-12

For Appellant: Shri Suman KumarFor Respondent: None
Section 11Section 12ASection 143(3)

…observing that loss/deficit cannot be determined while computing income u/s 11 of the Act. The CIT(A) has since allowed the claim of the assessee following the judgment of the Hon'ble Bombay High Court in the case of Institute of Banking Personnel Selection, 264 ITR 110 (Bom). 7. Before us, the plea of the Department is that the decision of the Hon'ble Bombay High Court in the case of Institute of Banking Personnel Selection (supra) has not been accepted by the Department on merits and on a similar issue, SLP (Civil) no. 9891 of 2014 has been filed before the Hon'ble Supreme Court in the case of Maharashtra Ind…

DCIT (E) 1(1), Mumbai vs. Aditya Birla Memorial Trust, Mumbai

In the result, appeal of the Revenue is dismissed

ITA 6648/MUM/2016[2011-12]Status: DisposedITAT Mumbai10 Nov 2017AY 2011-12

Bench: Shri G.S. Pannu & Shri Pawan Singh: A.Y : 2011-12

For Appellant: Shri Suman KumarFor Respondent: Ms. Ayushi Modani &
Section 11Section 12ASection 143(3)

…observing that loss/deficit cannot be determined while computing income u/s 11 of the Act. The CIT(A) has since allowed the claim of the assessee following the judgment of the Hon'ble Bombay High Court in the case of Institute of Banking Personnel Selection, 264 ITR 110 (Bom). 5. Before us, the plea of the Department is that the decision of the Hon'ble Bombay High Court in the case of Institute of Banking Personnel Selection (supra) has not been accepted by the Department on merits and on a similar issue, SLP (Civil) no. 9891 of 2014 has been filed before the Hon'ble Supreme Court in the case of Maharashtra Ind…

DCIT (Exemption), New Delhi vs. Subros Educational Society, New Delhi

In the result, the appeal of the department is dismissed

ITA 6240/DEL/2016[2012-13]Status: DisposedITAT Delhi09 Nov 2017AY 2012-13

Bench: Sh. N. K. Saini, Am & Sh. Joginder Singh, Jm Ita No. 6240/Del/2016 : Asstt. Year : 2012-13 Dy. Commissioner Of Income Vs Subros Educational Society, Tax(E), Circle-2(1), G-71, World Trade Centre, New Delhi Barakhamba Lane, New Delhi-110001 (Appellant) (Respondent) Pan No. Aadts2161F Assessee By : Sh. Salil Agarwal, Adv. & Sh. Shailesh Gupta, Adv. Revenue By : Sh. S. S. Rana, Cit Dr Date Of Hearing : 09.11.2017 Date Of Pronouncement : 09.11.2017 Order Per N. K. Saini, Am: This Is An Appeal By The Department Against The Order Dated 21.09.2016 By Ld. Cit(A)-40, Delhi.

For Appellant: Sh. Salil Agarwal, Adv. &For Respondent: Sh. S. S. Rana, CIT DR
Section 11Section 143(1)Section 70

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH ‘G’, NEW DELHI Before Sh. N. K. Saini, AM and Sh. Joginder Singh, JM ITA No. 6240/Del/2016 : Asstt. Year : 2012-13 Dy. Commissioner of Income Vs Subros Educational Society, Tax(E), Circle-2(1), G-71, World Trade Centre, New Delhi Barakhamba Lane, New Delhi-110001 (APPELLANT) (RESPONDENT) PAN No. AADTS2161F Assessee by : Sh. Salil Agarwal, Adv. & Sh. Shailesh Gupta, Adv. Revenue by : Sh. S. S. Rana, CIT DR Date of Hearing : 09.11.2017 Date of Pronouncement : 09.11.2017 ORDER Per N. K. Saini, AM: This is an appeal by the department against the order dated 21.09.2…

Asst Cir (E)-1(1), Mumbai vs. K.J. Somaiya Medical Trust, Mumbai

Appeal of the Revenue is dismissed

ITA 311/MUM/2016[2011-12]Status: DisposedITAT Mumbai02 Nov 2017AY 2011-12

Bench: Shri G.S. Pannu & Shri Ram Lal Negi: A.Y : 2011-12

For Appellant: Shri Rajesh Kumar YadavFor Respondent: Ms. Arati Vissanji
Section 11Section 11(1)(a)Section 11(1)(d)Section 143(3)Section 32

…ard of the said deficit, ignoring the fact that there was no express provision in the IT Act, 1961 permitting allowance of such claim. 6. That the decision of Hon'ble Bombay High Court in the case of Indian Institute of Banking and Personnel Selection (2003) 264 ITR 110 was not accepted by Revenue, but the appeal was not filed due to the smallness of tax effect. On the issues decided in said order are challenged in Apex Court in other cases hence the issue of double deduction on account of allowing claim 3 K.J. Somaiya Medical Trust of depreciation and carry forward of deficit to adjust as application of income…