Which sections of the Income Tax Act does CIT v. Institute of Banking Personnel Selection come up under?

It is most often cited in judgments turning on Section 143(3), Section 11, Section 12A, Section 147, Section 11(1)(a), Section 11(6).

CIT v. Institute of Banking Personnel Selection

Q: How many judgments cite CIT v. Institute of Banking Personnel Selection?

398 judgments on BharatTax cite CIT v. Institute of Banking Personnel Selection (264 ITR 110), spanning 2012 to 2026.

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 11 Section 12A Section 147 Section 11(1)(a)Section 11(6)Section 12 Section 13(8)

Issues it is cited on

section 11(1)(a)section 11(1)application of income capital expenditure section 12a section 11 section 10 section 12 previous year section 13 person section 25

Judgments citing CIT v. Institute of Banking Personnel Selection

Maharshi Karve Stree Shikshan Samstha vs. Income-Tax Officer

In the result, both the appeals of assessee and Revenue are dismissed

ITA 1409/PUN/2016[2008-09]Status: DisposedITAT Pune12 Dec 2018AY 2008-09

Bench: Ms. Sushma Chowla, Jm & Shri D. Karunakara Rao, Am आयकर अपीऱ सं. / Ita No.1409/Pun/2016 यििाारण वषा / Assessment Year : 2008-09 Maharshi Karve Stree Shikshan Samstha Karvenagar, अऩीऱाथी/Appellant Pune – 411052 …. Pan: Aaatm1969L Vs. The Income Tax Officer, …. प्रत्यथी / Respondent Ward 11(1), Pune

For Appellant: Shri Nikhil PathakFor Respondent: Ms. Divya Bajpai, CIT

Section 10Section 11(1)(a)Section 11(4)Section 143(3)Section 147Section 148

…putation of deficit by the assessee. It was further held that excess application was permitted to be carried forward in the subsequent years in turn, relying on the decision of the Hon’ble Bombay High Court in CIT Vs. Institute of Banking Personnel Selection (264 ITR 110) (Bom), wherein it was held that the adjustment of expenses incurred for the trust for charitable purposes, in earlier years, against the income earned by trust in the subsequent year, will have to be regarded as an application of income for charitable purposes in the subsequent year, in which the adjustment was made. Similar view has also been t…

DCIT (Exemptions), Chennai vs. Great Lakes Institute of Management, Chennai

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

ITA 2879/CHNY/2017[2011-12]Status: DisposedITAT Chennai29 Oct 2018AY 2011-12

Bench: Shri Abraham P. George & Shri Duvvuru Rl Reddyआयकर अपील सं./I T.A. No. 2879/Chny/2017 िनधा"रण वष"/Assessment Year:2011-12 The Deputy Commissioner Of M/S. Great Lakes Institute Of Income Tax (Exemption), Chennai Vs. Management, No. 24, South Mada Circle, Aayakar Bhavan, Annexe Street, Srinagar Colony, Saidapet, Building, Iii Floor, 121, M.G. Road, Chennai 600 015. Nungambakkam, Chennai – 600 034. [Pan:Aaccg2885L] (अपीलाथ" /Appellant) (""थ"/Respondent) अपीलाथ" की ओर से / Appellant By : Shri Maruda Pandian, Addl. Cit ""थ" की ओर से/Respondent By : None सुनवाई की तारीख/ Date Of Hearing : 11.09.2018 घोषणा की तारीख /Date Of Pronouncement : 29.10.2018 आदेश /O R D E R Per Duvvuru Rl Reddy: This Appeal Filed By The Revenue Is Directed Against The Order Of The Commissioner Of Income Tax (Appeals) 17, Chennai Dated 14.09.2017 Relevant To The Assessment Year 2011-12. The Only Effective Ground Raised In The Appeal Of The Revenue Is That The Ld. Cit(A) Has Erred In Holding That The Assessee Is Eligible To Set Off Of Brought Forward Excess Application Of Funds To Subsequent Years.

For Appellant: Shri Maruda Pandian, Addl. CITFor Respondent: None

Section 11Section 12ASection 142(1)Section 143(2)Section 143(3)

…atter in appeal before the Hon’ble Delhi High Court in the case of DIT v. Raghuvanshi Charitable Trust & Ors. (2011) 197 Taxman 170, by reproducing the observations of the Hon‟ble Mr. Justice S.H. Kapadia in the case of CIT vs. Institute of Banking Personnel [264 ITR 110 (Bom.), the Hon’ble Delhi High Court decided the issue in favour of the assessee after analysing five different judgements of different High Courts viz., (i)CIT vs. Maharana of Mewar Charitable Foundation [164 ITR 439 (Raj.)], (ii) CIT v. Shri Plot Swetamber Murti Pujak Jain Mandal [1995] 211 ITR 293 (Guj), (iii) CIT vs. Institute of Banking Pers…

DCIT (E) 2(1), Mumbai vs. National Institute of Consgtruction Management and Research, Mumbai

In the result, the appeal of Revenue is dismissed

ITA 3310/MUM/2017[2012-13]Status: DisposedITAT Mumbai29 Oct 2018AY 2012-13

Bench: Sri Mahavir Singh, Jm & Sri Manoj Kumar Aggarwal, Am Aayakr Apila Sam./ Ita No. 3310/Mum/2017 (Inaqa-Arna Baya- / Assessment Year 2012-13) Dy. Commissioner Of Income National Institute Of Tax (Exemptions) 2(1), Construction Management Room No. 519, 5Th Floor & Research Vs. Piramal Chambers, Lalbaug, Walchand Centre Walchand Lower Parel, Mumbai-400 012 Terrace, Tardeo Road, Mumbai-400 034 .. (P`%Yaqaai- / Respondent) (Apilaaqai- / Appellant) स्थायी लेखा िं./Pan No. Aaatn1348J

For Appellant: Shri Chaitanya S. Anjaria, DRFor Respondent: Shri Firoz B. Andhyarujina

Section 11Section 143(3)Section 32

…f application of income. Accordingly, he disallowed the depreciation. Aggrieved, assessee preferred the appeal before CIT(A). The CIT(A) relying on the decision of Hon’ble Bombay High Court in the case of CIT vs. Institute of Banking Personnel Services (2003) 264 ITR 110 (Bom.) and relying on assessee’s own case for AY 2008-09 allowed the claim by observing as under: - “5.2 I have considered the facts and circumstances of the case, the assessment order of the A.O, the submissions of the assessee and discussed the case with the AR of the appellant. The contentions and submissions of the appellant are being discus…

The ITO, (Exemptions), Ward, Surat vs. Shree Ambika Niketan Trust, Surat

In the result, the appeal of the revenue is dismissed

ITA 667/AHD/2017[2013-14]Status: DisposedITAT Surat24 Oct 2018AY 2013-14

Bench: Shri Rajpal Yadav & Shri Amarjit Singhअपील सं./Ita No.667/Ahd/2017 "नधा"रण वष"/Asstt. Year:2013-2014 Income Tax Officer, Shree Ambika Niketan Trust, [Exemption] Ward, Surat, H.No.13/52, Vs. Surat. C/0 Ambika Niketan Mandir, Khan Saheb Ni Wadi, Athwalines, Surat-395001. Pan Aabts2849C (Applicant) (Responent) Revenue By : Shri Prasanjit Singh, Cit,Dr : Assessee By Kruti Kothari, C.A सुनवाई क" तार"ख/Date Of Hearing : 15/11/2018 घोषणा क" तार"ख /Date Of Pronouncement: 16/11/2018 आदेश/O R D E R Per Amarjit Singh:

For Respondent: Shri Prasanjit Singh, CIT,DR

Section 11Section 143(2)Section 143(3)Section 70

…ter year (CIT v/s Maharana of Mevar Charitable Foundation ( 1987) 60 CTR (Raj) 40: (1987) 164 ITR 439 ( Raj) RC 23 R 1198 followed in CIT v/s Shni Plot Setambr Murti Pujak Jain Mandal ( 1994) 119 CTR ( Guj) .In CIT v/s Institute of Banking Personnel Selection 264 ITR 110 ( Bom) , it was held that in case of charitable trust whose income is exempt u/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. In Govindu Naicker Estate v/s ADIT (2001) 167 CTR (Mad) 303 (2001) 248 ITR 368 ( Mad),it was held…

Assistant Commissioner of Income Tax, (Exemptions), Circle-1, Mangaluru vs. M/S Manipal Academy of Higher Education, Manipal

In the result, the appeal filed by the revenue is dismissed

ITA 780/BANG/2018[2013-14]Status: DisposedITAT Bangalore17 Oct 2018AY 2013-14

Bench: Shri N.V. Vasudevan, Vice- & Shri Arun Kumar Garodiaassessment Year : 2013-14

For Appellant: Smt. Sheetal Borkar, AdvocateFor Respondent: Ms. Neera Malhotra, CIT (DR)

Section 11Section 11(1)(d)Section 15Section 70

…eafter, she drawn our attention to para 18 of this judgement and pointed out that in this Para, Hon'ble Karnataka High Court has also considered the judgment of Hon’ble Bombay High Court also rendered in the case of CIT Vs. Institute of Banking as reported in 264 ITR 110. 4. We have considered the rival submissions. We find that the first issue in dispute is regarding disallowance of depreciation of Rs. 95,37,11,460/- made by the AO and it is noted by CIT(A) in Para 5.2.3 of his order that this issue is squarely covered in favour of the assessee by various Tribunal Page 3 of 8 orders as noted in this para. For t…

The Assistant Commissioner of Income Tax (Exemptions) Circle-1, Mangalore vs. M/S Mangalore Jesuit Educational Society, Mangalore

In the result, the appeal filed by the revenue is dismissed

ITA 758/BANG/2018[2010-11]Status: DisposedITAT Bangalore17 Oct 2018AY 2010-11

Bench: Shri N.V. Vasudevan, Vice- & Shri Arun Kumar Garodiaassessment Year : 2010-11

For Appellant: Smt. Sheetal Borkar, AdvocateFor Respondent: Ms. Neera Malhotra, CIT (DR)

Section 11Section 11(1)(d)Section 15Section 70

…reafter she drawn our attention to para 18 of this judgement and pointed out that in this Para, Hon'ble Karnataka High Court has also considered the judgment of Hon’ble Bombay High Court also rendered in the case of CIT Vs. Institute of Banking as reported in 264 ITR 110. Page 3 of 8 4. We have considered the rival submissions. We find that the first issue in dispute is regarding disallowance of depreciation of Rs. 4,26,58,424/- made by the AO and it is noted by CIT(A) in para 5.4 of its order that this issue is squarely covered in favour of the assessee by the various Tribunal orders as noted in this para. For…

Assistant Commissioner of Income Tax, (Exemptions), Circle-1, Mangaluru vs. M/S. Dr. T. M. A. Pai Foundation, Manipal

In the result, the appeal filed by the revenue is dismissed

ITA 783/BANG/2018[2009-10]Status: DisposedITAT Bangalore12 Oct 2018AY 2009-10

For Appellant: Smt. Sheetal Borkar, AdvocateFor Respondent: Smt. Sri Nandini Das, Addl. CIT (DR)

Section 11Section 11(1)(d)Section 15Section 70

…he second issue i.e. benefit of set off of carry forward deficit of earlier years, the Tribunal in that case has followed the judgement of Hon’ble Bombay High Court rendered in the case of CIT Vs. Institute of Banking Personnel Selection (IBPS) as reported in 264 ITR 110. 4. We have considered the rival submissions and we find that on both the issues, the matter is covered in favour of the assessee by this Tribunal order on which reliance has been placed by ld. AR of assessee. In respect of first issue i.e. regarding allowability of depreciation, the issue was decided by the tribunal as per Para 9 of this Tribuna…

ITO -(E)2(3), Mumbai vs. Sushilaben Ramniklal Jhaveri, Mumbai

The appeal of the revenue is dismissed

ITA 4131/MUM/2017[2013-14]Status: DisposedITAT Mumbai28 Sept 2018AY 2013-14

Bench: Shri B.R.Baskaran & Shri Ravish Soodito(E)2(3) Shri Sushilaben Ramniklal Room No. 513, Jhaveri, Charitable Trust, Piramal Chambers, Vs. 705, Majestic Shopping Centre, Lal Baug Parel, 144, Girgauj Road, Mumbai-400 012 Mumbai-400004 Pan – Aacts1816L Revenue Assessee

For Appellant: Mr. Nitesh Joshi, Advocate &For Respondent: Shri Nishant Samaiya, D.R

Section 11(1)(a)Section 11(1)(d)Section 12ASection 143(2)Section 143(3)Section 2(24)(iia)

…t from the property held under trust, thus, the application of the same would not fall within the sweep of Sec. 11(1)(a). Further, the A.O was of the view that the judgment of the Hon‟ble High Court of Bombay in the case of CIT Vs. Institute of Banking (2003) 264 ITR 110 (Bom), having been rendered in context of the pre- amended Sec. 12 of the Act, thus, would not be applicable to the case of the present assessee. On the basis of his aforesaid deliberations, the A.O disallowed the adjustment made by the assessee of the brought forward loss against the surplus for the year under consideration. 4. Aggrieved, the as…

The Commissioner of vs. The Karnataka State

ITA/106/2016HC Karnataka27 Sept 2018

Bench: ABHAY SHREENIWAS OKA (CJ),S.G.PANDIT

Section 11Section 11(2)Section 12Section 143(1)Section 143(2)Section 260

…and the judgment relied upon by it rendered by the cognate Bench. Therefore, the same does not call for interference. A similar view was also taken by the Division Bench of Bombay High Court in Commissioner of Income-tax v. Institute of Banking (2003) 264 ITR 110, wherein the Division Bench of Bombay High Court held that the income derived from the trust property has also got to be computed on commercial principles and if commercial principles are applied, then adjustment of expenses incurred by the trust for charitable and religious purposes in the earlier years against the income earned by t…

DCIT(E), New Delhi vs. Dr. R.L. Khera Charitable Trust, New Delhi

In the result, the appeal of the Revenue in ITA No

ITA 4132/DEL/2015[2011-12]Status: DisposedITAT Delhi20 Sept 2018AY 2011-12

Bench: Shri N.K. Billaiya & Shri N.K. Choudhary[Assessment Year: 2011-12] The Dy.C.I.T Vs. Dr. R.L. Khera Charitable Trust Circle 1(1) Pandav Nagar, Naraina Road New Delhi Near Shadipur Depot, New Delhi Pan : Aaatd 8903 D [Appellant] [Respondent]

For Appellant: Shri Hiren Mehta, CAFor Respondent: Ms. Asima Neb, Sr. DR

Section 11Section 11(1)Section 28Section 29Section 30Section 32Section 32(1)Section 34Section 43C

…1 IN THE INCOME TAX APPELLATE TRIBUNAL, DELHI ‘B’ BENCH, NEW DELHI BEFORE SHRI N.K. BILLAIYA ACCOUNTANT MEMBER, AND SHRI N.K. CHOUDHARY, JUDICIAL MEMBER [Assessment Year: 2011-12] The Dy.C.I.T Vs. Dr. R.L. Khera Charitable Trust Circle 1(1) Pandav Nagar, Naraina Road New Delhi Near Shadipur Depot, New Delhi PAN : AAATD 8903 D [Appellant] [Respondent] Date of Hearing : 19.09.2018 Date of Pronouncement : 20.09.2018 Assessee by : Shri Hiren Mehta, CA Revenue by : Ms. Asima Neb, Sr. DR ORDER PER N.K. BILLAIYA, ACCOUNTANT MEMBER, This appeal by the assessee is preferred against the order of the CIT(Exemptio…

M/S.Marymatha School Trust, Cochin vs. The ITO(Exemption), Cochin

In the result, the appeal filed by the assessee is partly allowed

ITA 285/COCH/2017[2012-13]Status: DisposedITAT Cochin30 Aug 2018AY 2012-13

Bench: S/Shri Chandra Poojari, Am & George George K., Jm I.T.A. No.285/Coch/2017 Assessment Year : 2012-13 M/S. Mary Matha School Trust, Vs. The Income Tax Officer Thrikkakara P.O. (Exemption), Kochi. Kochi-682 021. [Pan:Aabtm 0241L]

Section 11Section 11(1)(a)Section 143(3)Section 263Section 272A(2)(e)Section 272A(3)Section 272A(4)

…1 IN THE INCOME TAX APPELLATE TRIBUNAL COCHIN BENCH, COCHIN BEFORE S/SHRI CHANDRA POOJARI, AM & GEORGE GEORGE K., JM I.T.A. No.285/Coch/2017 Assessment Year : 2012-13 M/s. Mary Matha School Trust, Vs. The Income Tax Officer Thrikkakara P.O. (Exemption), Kochi. Kochi-682 021. [PAN:AABTM 0241L] (Assessee-Appellant) (Revenue-Respondent) Assessee by Shri T.K. Mathew, CA Revenue by Shri Shantham Bose, CIT(DR) Date of hearing 03/09/2018 Date of pronouncement 05/09/2018 O R D E R Per CHANDRA POOJARI, AM: This appeal filed by the assessee is directed against the order passed u/.s 263 of the I.T. Act by the C…