CIT v. Jayshree Charity Trust

159 ITR 280High Court1986#5681 most cited

What is CIT v. Jayshree Charity Trust authority for?

Expenses outflow must be allowed as an application of income when the assessee's books of accounts are prepared on a commercial basis.

20

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2015 to 2025.

Also referred to as

CIT vs. Jayshree Charity Trust · 159 ITR 280 · application of income · commercial basis · expenses outflow · interest paid · allowable expenses

Sections most often in play

Section 10(20)Section 11Section 12ASection 12AASection 143(3)Section 145Section 263Section 36(1)(iv)

Issues it is cited on

recognised provident fundapproved superannuation fundsection 11 exemptionsection 80j(6a)section 12a(b)section 10(22)approved gratuity fundsection 36(1)(v)section 139(4a)section 10(20)section 12a(a)section 12a(1)(b)

Judgments citing CIT v. Jayshree Charity Trust

DEPUTY COMMISSIONER OF INCOME-TAX vs. THE JAWAHARLAL NEHRU PORT TRUST,, RAIGAD

In the result, all the three appeals filed by the Revenue are dismissed and all the three appeals filed by the assessee are partly allowed

ITA 545/PUN/2016[2005-06]Status: DisposedITAT Pune30 Sept 2025AY 2005-06

Bench: Shri R. K. Panda & Ms Astha Chandra

For Appellant: S/Shri Madhur Agrawal, AdvocateFor Respondent: S/Shri Sham Walve, Special Counsel along with Tanzil Padvekar and Bhavik Chheda
Section 10(20)Section 11Section 12ASection 142Section 143(1)Section 143(3)Section 263

…oks of accounts of the assessee are to be prepared in a commercial basis, such expenses outflow has to be allowed as application of income. For the above proposition, he placed reliance on the following decisions (i) CIT vs. Jayshree Charity Trust reported in 159 ITR 280 (1986) (Cal) (ii) CIT vs. Rao Bahadur Calavala Cunnan Chetty Charities (1982) 135 ITR 485 (Mad) (iii) Saint Ursula vs. DCIT (2023) 150 taxmann.com 25 (Pune-Trib.) 86. He accordingly submitted that the claim of the assessee of interest paid of Rs.157 crores should be allowed as application of income and only after the correct income can be calcul…

DEPUTY COMMISSIONER OF INCOME-TAX vs. THE JAWAHARLAL NEHRU PORT TRUST,, RAIGAD

In the result, all the three appeals filed by the Revenue are dismissed and all the three appeals filed by the assessee are partly allowed

ITA 544/PUN/2016[2004-05]Status: DisposedITAT Pune30 Sept 2025AY 2004-05

Bench: Shri R. K. Panda & Ms Astha Chandra

For Appellant: S/Shri Madhur Agrawal, AdvocateFor Respondent: S/Shri Sham Walve, Special Counsel along with Tanzil Padvekar and Bhavik Chheda
Section 10(20)Section 11Section 12ASection 142Section 143(1)Section 143(3)Section 263

…oks of accounts of the assessee are to be prepared in a commercial basis, such expenses outflow has to be allowed as application of income. For the above proposition, he placed reliance on the following decisions (i) CIT vs. Jayshree Charity Trust reported in 159 ITR 280 (1986) (Cal) (ii) CIT vs. Rao Bahadur Calavala Cunnan Chetty Charities (1982) 135 ITR 485 (Mad) (iii) Saint Ursula vs. DCIT (2023) 150 taxmann.com 25 (Pune-Trib.) 86. He accordingly submitted that the claim of the assessee of interest paid of Rs.157 crores should be allowed as application of income and only after the correct income can be calcul…

DEPUTY COMMISSIONER OF INCOME-TAX vs. THE JAWAHARLAL NEHRU PORT TRUST,, RAIGAD

In the result, all the three appeals filed by the Revenue are dismissed and all the three appeals filed by the assessee are partly allowed

ITA 543/PUN/2016[2003-04]Status: DisposedITAT Pune30 Sept 2025AY 2003-04

Bench: Shri R. K. Panda & Ms Astha Chandra

For Appellant: S/Shri Madhur Agrawal, AdvocateFor Respondent: S/Shri Sham Walve, Special Counsel along with Tanzil Padvekar and Bhavik Chheda
Section 10(20)Section 11Section 12ASection 142Section 143(1)Section 143(3)Section 263

…oks of accounts of the assessee are to be prepared in a commercial basis, such expenses outflow has to be allowed as application of income. For the above proposition, he placed reliance on the following decisions (i) CIT vs. Jayshree Charity Trust reported in 159 ITR 280 (1986) (Cal) (ii) CIT vs. Rao Bahadur Calavala Cunnan Chetty Charities (1982) 135 ITR 485 (Mad) (iii) Saint Ursula vs. DCIT (2023) 150 taxmann.com 25 (Pune-Trib.) 86. He accordingly submitted that the claim of the assessee of interest paid of Rs.157 crores should be allowed as application of income and only after the correct income can be calcul…

JAWAHAR LAL NEHRU PORT TRUST,NAVI MUMBAI vs. ACIT PANVEL, PANVEL

In the result, all the three appeals filed by the Revenue are dismissed and all the three appeals filed by the assessee are partly allowed

ITA 1155/MUM/2016[2004-05]Status: DisposedITAT Pune30 Sept 2025AY 2004-05

Bench: Shri R. K. Panda & Ms Astha Chandra

For Appellant: S/Shri Madhur Agrawal, AdvocateFor Respondent: S/Shri Sham Walve, Special Counsel along with Tanzil Padvekar and Bhavik Chheda
Section 10(20)Section 11Section 12ASection 142Section 143(1)Section 143(3)Section 263

…oks of accounts of the assessee are to be prepared in a commercial basis, such expenses outflow has to be allowed as application of income. For the above proposition, he placed reliance on the following decisions (i) CIT vs. Jayshree Charity Trust reported in 159 ITR 280 (1986) (Cal) (ii) CIT vs. Rao Bahadur Calavala Cunnan Chetty Charities (1982) 135 ITR 485 (Mad) (iii) Saint Ursula vs. DCIT (2023) 150 taxmann.com 25 (Pune-Trib.) 86. He accordingly submitted that the claim of the assessee of interest paid of Rs.157 crores should be allowed as application of income and only after the correct income can be calcul…

JAWAHAR LAL NEHRU PORT TRUST,NAVI MUMBAI vs. ACIT PANVEL, PANVEL

In the result, all the three appeals filed by the Revenue are dismissed and all the three appeals filed by the assessee are partly allowed

ITA 1154/MUM/2016[2005-06]Status: DisposedITAT Pune30 Sept 2025AY 2005-06

Bench: Shri R. K. Panda & Ms Astha Chandra

For Appellant: S/Shri Madhur Agrawal, AdvocateFor Respondent: S/Shri Sham Walve, Special Counsel along with Tanzil Padvekar and Bhavik Chheda
Section 10(20)Section 11Section 12ASection 142Section 143(1)Section 143(3)Section 263

…oks of accounts of the assessee are to be prepared in a commercial basis, such expenses outflow has to be allowed as application of income. For the above proposition, he placed reliance on the following decisions (i) CIT vs. Jayshree Charity Trust reported in 159 ITR 280 (1986) (Cal) (ii) CIT vs. Rao Bahadur Calavala Cunnan Chetty Charities (1982) 135 ITR 485 (Mad) (iii) Saint Ursula vs. DCIT (2023) 150 taxmann.com 25 (Pune-Trib.) 86. He accordingly submitted that the claim of the assessee of interest paid of Rs.157 crores should be allowed as application of income and only after the correct income can be calcul…

JAWAHAR LAL NEHRU PORT TRUST,NAVI MUMBAI vs. ACIT PANVEL, PANVEL

In the result, all the three appeals filed by the Revenue are dismissed and all the three appeals filed by the assessee are partly allowed

ITA 1153/MUM/2016[2003-04]Status: DisposedITAT Pune30 Sept 2025AY 2003-04

Bench: Shri R. K. Panda & Ms Astha Chandra

For Appellant: S/Shri Madhur Agrawal, AdvocateFor Respondent: S/Shri Sham Walve, Special Counsel along with Tanzil Padvekar and Bhavik Chheda
Section 10(20)Section 11Section 12ASection 142Section 143(1)Section 143(3)Section 263

…oks of accounts of the assessee are to be prepared in a commercial basis, such expenses outflow has to be allowed as application of income. For the above proposition, he placed reliance on the following decisions (i) CIT vs. Jayshree Charity Trust reported in 159 ITR 280 (1986) (Cal) (ii) CIT vs. Rao Bahadur Calavala Cunnan Chetty Charities (1982) 135 ITR 485 (Mad) (iii) Saint Ursula vs. DCIT (2023) 150 taxmann.com 25 (Pune-Trib.) 86. He accordingly submitted that the claim of the assessee of interest paid of Rs.157 crores should be allowed as application of income and only after the correct income can be calcul…

M/S. KALYAN EDUCATIONAL SOCIETY,BUDBUD, BURDWAN (EAST) vs. A.C.I.T., CIRCLE - 2, DURGAPUR, DURGAPUR

In the result, the appeal of the assessee is allowed

ITA 106/KOL/2023[2020-2021]Status: DisposedITAT Kolkata23 May 2023AY 2020-2021

Bench: Shri Rajesh Kumar & Shri Sonjoy Sarmai.T.A. No. 106/Kol/2023 Assessment Year: 2020-2021 M/S. Kalyan Educational Society,..............Appellant Budbud Bye Pass (North), Distg. Bardhaman-713403 [Pan: Aabtk2860K] -Vs.- Assistant Commissioner Of Income Tax,....Respondent Circle-2, Durgapur, Aayakar Bhawan, Durgapur, West Bengal Appearances By: Shri S.K. Tulsiyan, Advocate, Smt. Puja Somani, C.A., Appeared On Behalf Of The Assessee Shri Subhrajyoti Bhattacharjee, Cit (Dr), Appeared On Behalf Of The Revenue

Section 11Section 11(1)(a)Section 12ASection 139(4)Section 143(1)Section 250

…income derived from the trust property by the assesse trust has to be computed on commercial principles by relying on the circular no. 5- P(LXX-6) of 1968 dated 19.6.1968. The ld AR also relied on certain decisions namely CIT Vs Jayashree Charity Trust (1986) 159 ITR 280 (CaL), CIT Vs Programme for Community Organisation(1997) 228 ITR 620 (Ker) and CIT Vs Birla Janahit Trust (1994)208 ITR 372(Cal) to defend his arguments. ld AR ,therefore, prayed before the bench that the appellate order is against the order as stated above and may be quashed. 15. The ld. Departmental Representative, on the other hand, relied on…

INDIA ITME SOCIEY,MUMBAI vs. CIT (EXEMPTION), MUMBAI

In the result, Appeal of assessee is allowed for both the years

ITA 722/MUM/2021[2016-17]Status: DisposedITAT Mumbai27 Feb 2023AY 2016-17

Bench: Shri Prashant Maharishi, Am & Ms. Kavitha Rajagopal, Jm

For Appellant: Mr. Vipul Joshi, ARFor Respondent: Mr. Sandeep Raj, CIT DR
Section 11Section 11(2)Section 12ASection 143Section 143(3)Section 263Section 80G

…t the 'income' contemplated by the provisions of Section 11 is the real income and not income as assessed or assessable. They have also followed the earlier decision of the same High Court in the case of CIT v. Jayshree Charity Trust (1986) MANU/WB/0118/1984: 159 ITR 280 (Cal) wherein the Hon'ble Court observed that what is deemed to be income can neither be spent nor accumulated for charitable purposes and the word 'application' or accumulation' can only be of real income which has actually been received by assessee. Their Lordships further observed that the deeming provisions should not be construed in a way to…

INDIA ITME SOCIEY,MUMBAI vs. CIT (EXEMPTION), MUMBAI

In the result, Appeal of assessee is allowed for both the years

ITA 721/MUM/2021[2015-16]Status: DisposedITAT Mumbai27 Feb 2023AY 2015-16

Bench: Shri Prashant Maharishi, Am & Ms. Kavitha Rajagopal, Jm

For Appellant: Mr. Vipul Joshi, ARFor Respondent: Mr. Sandeep Raj, CIT DR
Section 11Section 11(2)Section 12ASection 143Section 143(3)Section 263Section 80G

…t the 'income' contemplated by the provisions of Section 11 is the real income and not income as assessed or assessable. They have also followed the earlier decision of the same High Court in the case of CIT v. Jayshree Charity Trust (1986) MANU/WB/0118/1984: 159 ITR 280 (Cal) wherein the Hon'ble Court observed that what is deemed to be income can neither be spent nor accumulated for charitable purposes and the word 'application' or accumulation' can only be of real income which has actually been received by assessee. Their Lordships further observed that the deeming provisions should not be construed in a way to…

MICHAEL PAGE INTERNATIONAL RECRUITMENT P. LTD,MUMBAI vs. THE DY CIT-14(1)(1), MUMBAI

In the result, the appeal is allowed for statistical purposes in the terms indicated above

ITA 1323/MUM/2021[2016-17]Status: DisposedITAT Mumbai17 Oct 2022AY 2016-17
Section 143(3)Section 144C(12)Section 144C(5)

…ve not a single day for rectification of mistakes. That is an incongruous result which will render rule 13 of the DRP Rules nugatory and meaningless in a large number of cases. Hon‟ble Calcutta High Court, in the case of CIT v. Jayashree Charity Trust [(1986) 159 ITR 280 (Cal.)] has observed that, "To resolve . . . . (the) controversy, regard must be had to the language that has been employed and also to the object of the statute. It is well settled that, if possible, the words of a statute must be construed so as to give a sensible meaning to them. The words ought to be construed ut res magis valeat quam pereat.…

DDIT, BANGALORE vs. CUTCHI MEMOM UNION, BANGALORE

In the result, Revenue’s appeal is dismissed

ITA 878/BANG/2012[2007-08]Status: DisposedITAT Bangalore29 Mar 2021AY 2007-08

Bench: Shri Chandra Poojari & Smt. Beena Pillaiassessment Year: 2007-08 Ddit, M/S.Cutchi Memon Union, Circle-17(1), No.62-63, 1St Floor, Bengaluru. Chick Bazar Road, Vs. Shivajinagar, Bengaluru-560 051. Pan No : Aaatc 4202 A Appellant Respondent Appellant By : Smt. Ilavarasi R, Addl. Cit(Dr)(Itat) Respondent By : Shri. Ashoka Kulkarni, Advocate Date Of Hearing : 29.03.2021 Date Of Pronouncement : 29.03.2021

For Appellant: Smt. Ilavarasi R, Addl. CIT(DR)(ITAT)For Respondent: Shri. Ashoka Kulkarni, Advocate
Section 10Section 11Section 13Section 14Section 2Section 24

…. The decisions relied on by the CIT (A) actually favours the 4) department as the High Courts have categorically held that the income derived from trust property must be determined on commercial principles. In fact the Calcutta High Court in its decisions in 159 ITR 280 and 199 ITR 215 have referred to the CBDT Circular in No.5 LXX-6 dated 19.06.1968 which is favorable to the department. 3. Originally this appeal was disposed off by this Tribunal wide order dated 14.08.2013 by partially deciding this appeal in favour of the assessee. The Department, vide order in ITA No.534 of 2013, took up the issue before the…

M/S CUTCHI MEMON UNION vs. THE DEPUTY DIRECTOR OF INCOME TAX (EXEMPTIONS)

In the result, the appeal is disposed of

ITA/534/2013HC Karnataka28 Sept 2020

Bench: ALOK ARADHE,M.I.ARUN

Section 11Section 139Section 2(24)Section 2(45)Section 24Section 260Section 260A

…aim for depreciation was also disallowed. The assessee thereupon filed an appeal before the Commissioner of Income Tax (Appeals), who by an order dated 27.04.2012, by placing reliance on decision of Calcutta High Court in CIT VS. JAYASHREE CHARITY TRUST, 159 ITR 280 (Cal) and decision of Gujarat High Court in CIT VS. GANGA CHARITY TRUST FUND, 162 ITR 612 (Guj) set aside the order of the Assessing Officer and allowed the appeal preferred by the assessee. Being aggrieved, the revenue approached the Income Tax Appellate Tribunal (hereinafter referred to as 'the Tribunal' for short). The Tribunal by an ord…

SHREE RAM TRUST,KOLKATA vs. I.T.O.,WARD-1(3), KOLKATA

In the result, the appeal of the assessee is partly allowed

ITA 2496/KOL/2019[2012-13]Status: DisposedITAT Kolkata22 May 2020AY 2012-13

Bench: Shri A. T. Varkey, Jm ]

Section 11(1)Section 11(1)(a)Section 11(1)(d)

…ground no 3(b) is against the action of AO/ld. CIT(A) in not allowing tax deducted at source of Rs. 4,98,795/-, we find that this issue is no longer res integra by the decision of Hon’ble Calcutta High Court in the case CIT Vs. Jay Shree Charity Trust (1986) 159 ITR 280(Cal), wherein a question was, whether, where net dividend received by assessee after deduction of tax at source was spent for charitable purposes and whether the assessee was entitled to benefit of exemption on 8 I.T.A No. 2496/Kol/2019 A.Y 2012-13 that portion of income, which had been taken away by deduction of tax at source even though that a…

ITO(E), WD-1(4), KOLKATA, KOLKATA vs. PANCHAJANYA TRUST, KOLKATA

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

ITA 1994/KOL/2017[2014-15]Status: DisposedITAT Kolkata01 Oct 2019AY 2014-15

Bench: Shri S.S.Godara, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita No.1841/Kol/2017 ("नधा"रणवष" / Assessment Year: 2014-15)

For Appellant: Shri S.K. Das, FCAFor Respondent: Shri Robin Chowdhury, DR
Section 11Section 11(1)(d)Section 12(1)Section 143(3)

…ve the property of the trust when a demand is lawfully made. Therefore, the expenditure incurred by way of payment of tax out of the current year's income has to be considered as application for charitable purposes. 9. In CIT v. Jayashree Charity Trust [1986] 159 ITR 280 , this Court held that the income to be considered will be that which is arrived at in the context of what is available in the hands of the assessee subject to an adjustment of any expenses extraneous to the trust. 10. In our view, income applied to meet expenses, such as normal expenses of management which may not, strictly speaking, be charitab…

PANCHAJANYA TRUST,KOLKATA vs. ITO, (EXEMPTION), WARD-1(4), KOKLATA, KOLKATA

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

ITA 1841/KOL/2017[2014-15]Status: DisposedITAT Kolkata01 Oct 2019AY 2014-15

Bench: Shri S.S.Godara, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita No.1841/Kol/2017 ("नधा"रणवष" / Assessment Year: 2014-15)

For Appellant: Shri S.K. Das, FCAFor Respondent: Shri Robin Chowdhury, DR
Section 11Section 11(1)(d)Section 12(1)Section 143(3)

…ve the property of the trust when a demand is lawfully made. Therefore, the expenditure incurred by way of payment of tax out of the current year's income has to be considered as application for charitable purposes. 9. In CIT v. Jayashree Charity Trust [1986] 159 ITR 280 , this Court held that the income to be considered will be that which is arrived at in the context of what is available in the hands of the assessee subject to an adjustment of any expenses extraneous to the trust. 10. In our view, income applied to meet expenses, such as normal expenses of management which may not, strictly speaking, be charitab…

INDIAN CANCER SOCIETY,MUMBAI vs. ADIT (E)- II (1), MUMBAI

In the result, appeals filed by the Assessee are hereby ordered to be allowed

ITA 1857/MUM/2019[2011-12]Status: DisposedITAT Mumbai07 Aug 2019AY 2011-12

Bench: Shri M. Balaganesh, Am & Shri Amarjit Singh, Jm आयकर अपील सं/ I.T.A. Nos.1857 To 1859/Mum/2019 (निर्धारण वर्ा / Assessment Years: 2011-12, 2013-14 & 2014-15) Indian Cancer Society बिधम/ Asstt. Director Of Income 74 Jerbai Wadia Road, Parel, Tax (Exemption)-Ii(1) Vs. 5Th Floor, Piramal Chamber, Mumbai. Lalbaug, Mumbai. स्थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaati0001K (अपीलाथी /Appellant) .. (प्रत्यथी / Respondent) Assessee By: Shri Percy Pardiwala/Sukhsagar Syal (Ar) Revenue By: Shri Mallikarjun Utture (Dr) सुनवाई की तारीख / Date Of Hearing: 05/08/2019 घोषणा की तारीख /Date Of Pronouncement: 07/08/2019

For Appellant: Shri Percy Pardiwala/SukhsagarFor Respondent: Shri Mallikarjun Utture (DR)
Section 11Section 12ASection 14Section 143(2)

…enevolent provision found in clause (a) of section 11(1) nugatory. Therefore, on plain reading of section 11(1)(a) the view taken by the Tribunal commends to us." The Hon‟ble High Court of Calcutta in case of titled as CIT Vs. 7 Jayashree Charity Trust (1986) 159 ITR 280 (Cal) has also specifically held as under:- “The words of a statute must be construed so as to give a sensible meaning to them. The words ought to be construed utres magis valeat quam pereat. The entire object of section 11 is to grant immunity to the income of a charitable trust from income-tax. The immunity, however, is confined "to the extent…

ABHERAJ BALDOTA FOUNDATION ,HOSPET vs. DEPUTY COMMISSIONER OF INCOME TAX CIRCLE-1 , BELLARY

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

ITA 947/BANG/2017[2008-09]Status: DisposedITAT Bangalore26 Jul 2019AY 2008-09

Bench: Shri B.R Baskaran & Smt. Beena Pillai

For Appellant: Smt. Tanmayee Rajkumar, AdvocateFor Respondent: Shri R.N Siddappaji, Addl. CIT (DR)
Section 11Section 11(2)Section 11(3)Section 143(1)Section 143(3)Section 154

…IN THE INCOME TAX APPELLATE TRIBUNAL “B’’ BENCH : BANGALORE BEFORE SHRI B.R BASKARAN, ACCOUNTANT MEMBER AND SMT. BEENA PILLAI, JUDICIAL MEMBER ITA Nos.947 & 948/Bang/2017 Assessment year : 2008-09 AbherajBaldota Foundation, Vs. The Dy. Commissioner of Income-tax Baldota Enclave, Circle-1, AbherajBaldota Road, Bellary. Hospet – 583 203. PAN – AABTA 0454 B APPELLANT RESPONDENT Appellant by : Smt. Tanmayee Rajkumar, Advocate Respondent by : Shri R.N Siddappaji, Addl. CIT (DR) Date of hearing : 22.07.2019 Date of Pronouncement : .07.2019 O R D E R PerB.R Baskaran,Accountant Member Both the appeals filed by t…

BHAV VARDHAN TRUST,MUMBAI vs. ITO (E) 1(1), MUMBAI

In the result, appeal of the assessee is allowed for statistical purposes in terms of our aforesaid observations

ITA 6571/MUM/2017[2012-13]Status: DisposedITAT Mumbai11 Apr 2018AY 2012-13

Bench: Shri G.S. Pannu, Am & Shri Ravish Sood, Jm Bhav Vardhan Trust, Vs. Ito, (Exemptions)-1(1), Nirmal Niketan, 2, Mumbai. Dr. Bhajekar Street, Mumbai – 400 004 Pan No. Aaatb 3631 Q (Appellant) (Respondent)

For Appellant: Shri Rajesh P. Shah, CAFor Respondent: Ms. N. Hemalatha, Sr. DR
Section 11(1)Section 11(1)(a)Section 12ASection 139Section 143(2)Section 143(3)

…he ‘application’ or ‘accumulation’ of the income of the trust. The assessee, further in order to justify its aforesaid claim, relied on the following judicial pronouncements:- Bhav Vardhan Trust vs. ITO – A.Y. 2012-13 3 CIT vs. Jayashree Charity Trust (1986) 159 ITR 280 (Cal) (ii) CIT vs. Janaki Ammal Ayya Nadar Trust (1985) 153 ITR 159) (Mad), and; (iii) CWT vs. Nizam’s Supplemental Religious Endowment Trust (1973) 89 ITR 80 (AP) 3. However, the aforesaid contentions of the assessee did not find favour with the Assessing Officer. The Assessing officer was of the view that as the tax deducted at source of Rs. 1…

M/S INTEGRATED EDUCATION RESEARCH CENTRE FOR ENGINEERING AND MANAGEMENT,KOLKATA vs. CIT(EXEMPTIONS), KOLKATA, KOLKATA

In the result the appeal is allowed while the stay application is dismissed

ITA 620/KOL/2016[2012-2013]Status: DisposedITAT Kolkata01 Jun 2016AY 2012-2013

Bench: Shri N.V. Vasudevan & Shri M.Balaganesh

For Appellant: Mr.S.M.Surana, AdvocateFor Respondent: Mr.Snehotpal Datta, JCIT
Section 143(3)Section 263Section 32Section 35(2)(iv)

…st reported in 127 ITR 378 (A.P.) [1981] iv. ClT vs. Rcao Bahadur Calavala Cunnan Chetty Charities reported in [1982) 135 ITR 485 [Mad} v. ClT vs. Bhoruka Public Welfare Trust reported in 240 ITR 513 (Cal) [19991 vi. CIT vs. Jayashree Chaity Trust reported in 159 ITR 280 (Co') [1986] vii. Escorts Ltd.( J.K. Synthetics Ltd.) vs Union of India 199 ITR 43 (SC) (1993) It is noted that in any of the case mentioned above, other than Institute of Banking Personnel Selection (supra), Market Committee, Pipli (supra), and Escorts Ltd. (supra), the issue at hand was not the situation where claim depreciation leads to doubl…

M/S ACHARYA PATHAHALA EDUCATIONAL TRUST,BANGALORE vs. DY.D.I.T., BANGALORE

In the result, the appeal of the assessee is allowed

ITA 597/BANG/2015[2011-12]Status: DisposedITAT Bangalore06 Nov 2015AY 2011-12

Bench: Smt. Asha Vijayaraghavan & Shri Jason P. Boazassessment Year : 2011-12

For Appellant: Shri C.P. Ramaswamy, CAFor Respondent: Dr. P.K. Srihari, Addl. Addl.CIT (DR)
Section 11Section 11(1)(a)

…n the following decisions :- CIT v. Trustee of H.E.H. The Nizam’s Suppelmetnal Religious Endowment Trust, 127 ITR 378 (AP) CIT v. Estate of V.L. Ethiraj, 136 ITR 12 (Mad) CIT v. Janaki Ammal Ayya Nadar Trust, 153 ITR 159 (Mad) CIT v. Jayashree Charity Trust, 159 ITR 280 (Cal) Page 5 of 9 9. The ld. counsel for the assessee took us through the relevant portion of the judgment in the case of CIT v. Jayashree Charity Trust, 159 ITR 280 (Cal), wherein it was held as under:- “This Circular makes it clear that the word “income” in section 11(1)(a) must be understood in a commercial sense. The entire income of the tr…

CIT v. Jayshree Charity Trust (159 ITR 280) — Cited in 20 Judgments | BharatTax