CIT v. Karnataka Urban Infrastructure Development and Finance Corporation

284 ITR 582High Court2006#1563 most cited

What is CIT v. Karnataka Urban Infrastructure Development and Finance Corporation authority for?

Funds received by an entity acting as a nodal agency or agent of the government for implementing specific government schemes, or income generated from such funds (like lease premiums or interest), are not taxable in the hands of the agency if held on behalf of or remitted to the government.

73

judgments rely on this decision, according to BharatTax’s citation analysis of 366,459 Indian tax judgments — from 2015 to 2025.

Also referred to as

CIT v KUIDFC · Karnataka Urban Infrastructure Development and Finance Corporation · 284 ITR 582 · 155 Taxmann.com 228 · nodal agency income tax · government agent funds taxability · representative assessee Section 160 · funds collected on government's behalf · non-taxable income government schemes · interest income nodal agency

Also reported as

155 Taxmann.com 228

Sections most often in play

Section 113Section 115Section 142(1)Section 143(3)Section 155Section 160Section 10(26B)Section 114

Issues it is cited on

section 3asection 160section 113section 114section 155section 16section 57section 22section 56liable to taxincome from other sourcessection 194

Judgments citing CIT v. Karnataka Urban Infrastructure Development and Finance Corporation

Bangalore Metro Rail Corporation Ltd., Bangalore vs. DCIT, Bangalore

In the result, appeal of the assessee is allowed

ITA 1263/BANG/2015[2009-10]Status: DisposedITAT Bangalore19 Apr 2022AY 2009-10

Bench: Shri N. V. Vasudevan & Shri B. R. Baskaranassessment Year : 2009-10 Bangalore Metro Rail Corporation Ltd., Dcit, Vs. 3Rd Floor, Bmtc Complex, Circle – 11(2), K H Road, Shanti Nagar, Bengaluru. Bengaluru-560 027. Pan : Aaacb 4881 D Appellant Respondent Assessee By : Shri. A. Shankar, Advocate Revenue By : Shri. Sumer Singh Meena, Cit(Dr)(Itat), Bengaluru. Date Of Hearing : 01.04.2022 Date Of Pronouncement : 19.04.2022 O R D E R Per N V Vasudevan

For Appellant: Shri. A. Shankar, AdvocateFor Respondent: Shri. Sumer Singh Meena, CIT(DR)(ITAT), Bengaluru
Section 250

…sessment year 2007-08. The claim was dismissed by my predecessor in his order ITA.No.51A/DC- 11(2)/A-I/09-10 dated 8/8/2011. The operative portion of the said order reads as follows: "6. completely agree with him that the facts of case cited by the A.R. i.e., 284 ITR 582 is completely different: The A.O. has rightly pointed out that m/s KUIDFC has been allotted fund which belongs to the State Exchequer to be spent for the purpose of welfare of the public and hence no profit motive can be ascribed to such nodal agency. However M/s BMRCL is a joint venture company and its intention was to earn profit from the train…

Electronics & Quality Development Centre, Gandhinagar vs. The ACIT (Exemptions), Circle-1, Ahmedabad

ITA 857/AHD/2018[2014-15]Status: DisposedITAT Ahmedabad25 Mar 2022AY 2014-15

Bench: Shri P.M. Jagtap, Vice- & Shri T.R. Senthil Kumarassessment Years : 2014-15 The Dy. Commissioner Of Electronics & Quality Income-Tax (Exemptions), Vs Development Centre, Circle-1, Ahmedabad B/177/178, Gidc Electronics Estate, Sector-25, Gandhinagar – 382024 Pan : Aaate 0718 R Assessment Years : 2014-15 Electronics & Quality The Dy. Commissioner Of Development Centre, Vs Income-Tax (Exemptions), B/177/178, Gidc Electronics Estate, Circle-1, Ahmedabad Sector-25, Gandhinagar – 382024 Pan : Aaate 0718 R अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee By : Shri Sanjay R. Shah, Ca Revenue By : Shri Ajay Pratap Singh, Cit-Dr सुनवाई क" तार"ख/Date Of Hearing : 28/02/2022 घोषणा क" तार"ख /Date Of Pronouncement: 25/03/2022 आदेश/O R D E R Per P.M. Jagtap, Vice-: These Two Appeals, One Filed By The Revenue Being Ita No. 807/Ahd/2018 & Other Filed By The Assessee Being Ita No. 857/Ahd/2018, Are Cross Appeals Which Are Directed Against The Order Of Learned Commissioner Of Income-Tax (Appeals)-7, Ahmedabad (“Cit(A)” In Short) Dated 16.01.2018, For The Assessment Year 2014-15. 2. First We Shall Take Up The Revenue’S Appeal; Ground No.1 Of Which Reads As Under:-

For Appellant: Shri Sanjay R. Shah, CAFor Respondent: Shri Ajay Pratap Singh, CIT-DR
Section 11(1)(d)Section 12ASection 2(15)

…lient Gujarat Safai Kamdar Vikas Nigam [ITA No. 3232/Ahd/20081 for AY 2005-06]0. iv)Sukhdeo Charity Estate v ITO [192 1TR 615 (Raj)] v) Sukhdeo Charity Estate v ITO [149 ITR 470 (Raj)] vi)CIT v Karnataka Urban Infrastructure Development & Finance Corporation [284 ITR 582 (Karn)] vii)CIT v. UPUpbhokta Sahakar Sangh Ltd [288 ITR 106 (All)] viii)Gujarat Municipal Finance Board v DCIT [221 ITR 317 (Guj)] ITA No. 807 & 857Ahd/2018 Electronics & Quality Development Centre AY : 2014-15 4 We hope that the above will fully meet with the requirements for finalizing the assessment of our client EQDC.” 4. The Assessing Of…

The DCIT (Exemptions), Circle-1, Ahmedabad vs. Electronics & Quality Development Centre, Gandhinagar

ITA 807/AHD/2018[2014-15]Status: DisposedITAT Ahmedabad25 Mar 2022AY 2014-15

Bench: Shri P.M. Jagtap, Vice- & Shri T.R. Senthil Kumarassessment Years : 2014-15 The Dy. Commissioner Of Electronics & Quality Income-Tax (Exemptions), Vs Development Centre, Circle-1, Ahmedabad B/177/178, Gidc Electronics Estate, Sector-25, Gandhinagar – 382024 Pan : Aaate 0718 R Assessment Years : 2014-15 Electronics & Quality The Dy. Commissioner Of Development Centre, Vs Income-Tax (Exemptions), B/177/178, Gidc Electronics Estate, Circle-1, Ahmedabad Sector-25, Gandhinagar – 382024 Pan : Aaate 0718 R अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee By : Shri Sanjay R. Shah, Ca Revenue By : Shri Ajay Pratap Singh, Cit-Dr सुनवाई क" तार"ख/Date Of Hearing : 28/02/2022 घोषणा क" तार"ख /Date Of Pronouncement: 25/03/2022 आदेश/O R D E R Per P.M. Jagtap, Vice-: These Two Appeals, One Filed By The Revenue Being Ita No. 807/Ahd/2018 & Other Filed By The Assessee Being Ita No. 857/Ahd/2018, Are Cross Appeals Which Are Directed Against The Order Of Learned Commissioner Of Income-Tax (Appeals)-7, Ahmedabad (“Cit(A)” In Short) Dated 16.01.2018, For The Assessment Year 2014-15. 2. First We Shall Take Up The Revenue’S Appeal; Ground No.1 Of Which Reads As Under:-

For Appellant: Shri Sanjay R. Shah, CAFor Respondent: Shri Ajay Pratap Singh, CIT-DR
Section 11(1)(d)Section 12ASection 2(15)

…lient Gujarat Safai Kamdar Vikas Nigam [ITA No. 3232/Ahd/20081 for AY 2005-06]0. iv)Sukhdeo Charity Estate v ITO [192 1TR 615 (Raj)] v) Sukhdeo Charity Estate v ITO [149 ITR 470 (Raj)] vi)CIT v Karnataka Urban Infrastructure Development & Finance Corporation [284 ITR 582 (Karn)] vii)CIT v. UPUpbhokta Sahakar Sangh Ltd [288 ITR 106 (All)] viii)Gujarat Municipal Finance Board v DCIT [221 ITR 317 (Guj)] ITA No. 807 & 857Ahd/2018 Electronics & Quality Development Centre AY : 2014-15 4 We hope that the above will fully meet with the requirements for finalizing the assessment of our client EQDC.” 4. The Assessing Of…

Deputy Commissioner of Income Tax, Circle- 4(1)(1), Bangalore vs. M/S. Karnataka State Police Housing & Infrastructure Developent Corporation Limited, Bangalore

In the result, all the appeals of the revenue and the appeal of the assessee for AY 2013-14 are dismissed and the appeals of the assessee for AY 2012-13 and 2014-15 are treated as partly allowed

ITA 187/BANG/2020[2015-16]Status: DisposedITAT Bangalore25 Nov 2021AY 2015-16

Bench: Shri N.V. Vasudevan & Shri B.R. Baskaranassessment Year : 2014-15

For Appellant: Shri Ashok A Kulkarni, A.RFor Respondent: Shri Sumer Singh Meena, D.R

…ITA Nos.1267 & 1349/Bang/2019 ITA 142, 143, 144. 185, 186 & 187/Bang/2020 M/s. Karnataka State Police Housing & Infrastructure Development Corporation Ltd., Bangalore IN THE INCOME TAX APPELLATE TRIBUNAL “A’’ BENCH: BANGALORE BEFORE SHRI N.V. VASUDEVAN, VICE PRESIDENT AND SHRI B.R. BASKARAN, ACCOUNTANT MEMBER Assessment Year : 2014-15 M/s. Karnataka State Police Housing and Infrastructure Development Corporation Ltd. No.59, Richmond Road Vs. ACIT Circle-4(1)(1) Bengaluru 560 025 Bangalore PAN NO : AAACK6902E APPELLANT RESPONDENT Assessment Year : 2014-15 M/s. Karnataka State Police Housing and Infrastructu…

Deputy Commissioner of Income Tax, Circle- 4(1)(1), Bangalore vs. M/S. Karnataka State Police Housing & Infrastructure Development Corporation Limited, Bangalore

In the result, all the appeals of the revenue and the appeal of the assessee for AY 2013-14 are dismissed and the appeals of the assessee for AY 2012-13 and 2014-15 are treated as partly allowed

ITA 186/BANG/2020[2013-14]Status: DisposedITAT Bangalore25 Nov 2021AY 2013-14

Bench: Shri N.V. Vasudevan & Shri B.R. Baskaranassessment Year : 2014-15

For Appellant: Shri Ashok A Kulkarni, A.RFor Respondent: Shri Sumer Singh Meena, D.R

…ITA Nos.1267 & 1349/Bang/2019 ITA 142, 143, 144. 185, 186 & 187/Bang/2020 M/s. Karnataka State Police Housing & Infrastructure Development Corporation Ltd., Bangalore IN THE INCOME TAX APPELLATE TRIBUNAL “A’’ BENCH: BANGALORE BEFORE SHRI N.V. VASUDEVAN, VICE PRESIDENT AND SHRI B.R. BASKARAN, ACCOUNTANT MEMBER Assessment Year : 2014-15 M/s. Karnataka State Police Housing and Infrastructure Development Corporation Ltd. No.59, Richmond Road Vs. ACIT Circle-4(1)(1) Bengaluru 560 025 Bangalore PAN NO : AAACK6902E APPELLANT RESPONDENT Assessment Year : 2014-15 M/s. Karnataka State Police Housing and Infrastructu…

Deputy Commissioner of Income Tax, Circle- 4(1)(1), Bangalore vs. M/S. Karnataka State Police Housing & Infrastructure Development Corporation Limited, Bangalore

In the result, all the appeals of the revenue and the appeal of the assessee for AY 2013-14 are dismissed and the appeals of the assessee for AY 2012-13 and 2014-15 are treated as partly allowed

ITA 185/BANG/2020[2012-13]Status: DisposedITAT Bangalore25 Nov 2021AY 2012-13

Bench: Shri N.V. Vasudevan & Shri B.R. Baskaranassessment Year : 2014-15

For Appellant: Shri Ashok A Kulkarni, A.RFor Respondent: Shri Sumer Singh Meena, D.R

…ITA Nos.1267 & 1349/Bang/2019 ITA 142, 143, 144. 185, 186 & 187/Bang/2020 M/s. Karnataka State Police Housing & Infrastructure Development Corporation Ltd., Bangalore IN THE INCOME TAX APPELLATE TRIBUNAL “A’’ BENCH: BANGALORE BEFORE SHRI N.V. VASUDEVAN, VICE PRESIDENT AND SHRI B.R. BASKARAN, ACCOUNTANT MEMBER Assessment Year : 2014-15 M/s. Karnataka State Police Housing and Infrastructure Development Corporation Ltd. No.59, Richmond Road Vs. ACIT Circle-4(1)(1) Bengaluru 560 025 Bangalore PAN NO : AAACK6902E APPELLANT RESPONDENT Assessment Year : 2014-15 M/s. Karnataka State Police Housing and Infrastructu…

M/S. Karnataka State Police Housing and Infrastructure Development Corporation Limited, Bangalore vs. Deputy Commissioner of Income Tax, Circle -4(1)(1), Bangalore

In the result, all the appeals of the revenue and the appeal of the assessee for AY 2013-14 are dismissed and the appeals of the assessee for AY 2012-13 and 2014-15 are treated as partly allowed

ITA 144/BANG/2020[2015-16]Status: DisposedITAT Bangalore25 Nov 2021AY 2015-16

Bench: Shri N.V. Vasudevan & Shri B.R. Baskaranassessment Year : 2014-15

For Appellant: Shri Ashok A Kulkarni, A.RFor Respondent: Shri Sumer Singh Meena, D.R

…ITA Nos.1267 & 1349/Bang/2019 ITA 142, 143, 144. 185, 186 & 187/Bang/2020 M/s. Karnataka State Police Housing & Infrastructure Development Corporation Ltd., Bangalore IN THE INCOME TAX APPELLATE TRIBUNAL “A’’ BENCH: BANGALORE BEFORE SHRI N.V. VASUDEVAN, VICE PRESIDENT AND SHRI B.R. BASKARAN, ACCOUNTANT MEMBER Assessment Year : 2014-15 M/s. Karnataka State Police Housing and Infrastructure Development Corporation Ltd. No.59, Richmond Road Vs. ACIT Circle-4(1)(1) Bengaluru 560 025 Bangalore PAN NO : AAACK6902E APPELLANT RESPONDENT Assessment Year : 2014-15 M/s. Karnataka State Police Housing and Infrastructu…

M/S. Karnataka State Police Housing and Infrastructure Development Corporation Limited, Bangalore vs. Deputy Commissioner of Income Tax, Circle -11(5), Bangalore

In the result, all the appeals of the revenue and the appeal of the assessee for AY 2013-14 are dismissed and the appeals of the assessee for AY 2012-13 and 2014-15 are treated as partly allowed

ITA 143/BANG/2020[2013-14]Status: DisposedITAT Bangalore25 Nov 2021AY 2013-14

Bench: Shri N.V. Vasudevan & Shri B.R. Baskaranassessment Year : 2014-15

For Appellant: Shri Ashok A Kulkarni, A.RFor Respondent: Shri Sumer Singh Meena, D.R

…ITA Nos.1267 & 1349/Bang/2019 ITA 142, 143, 144. 185, 186 & 187/Bang/2020 M/s. Karnataka State Police Housing & Infrastructure Development Corporation Ltd., Bangalore IN THE INCOME TAX APPELLATE TRIBUNAL “A’’ BENCH: BANGALORE BEFORE SHRI N.V. VASUDEVAN, VICE PRESIDENT AND SHRI B.R. BASKARAN, ACCOUNTANT MEMBER Assessment Year : 2014-15 M/s. Karnataka State Police Housing and Infrastructure Development Corporation Ltd. No.59, Richmond Road Vs. ACIT Circle-4(1)(1) Bengaluru 560 025 Bangalore PAN NO : AAACK6902E APPELLANT RESPONDENT Assessment Year : 2014-15 M/s. Karnataka State Police Housing and Infrastructu…

M/S. Karnataka State Police Housing and Infrastructure Development Corporation Limited, Bangalore vs. Deputy Commissioner of Income Tax, Circle -11(5), Bangalore

In the result, all the appeals of the revenue and the appeal of the assessee for AY 2013-14 are dismissed and the appeals of the assessee for AY 2012-13 and 2014-15 are treated as partly allowed

ITA 142/BANG/2020[2012-13]Status: DisposedITAT Bangalore25 Nov 2021AY 2012-13

Bench: Shri N.V. Vasudevan & Shri B.R. Baskaranassessment Year : 2014-15

For Appellant: Shri Ashok A Kulkarni, A.RFor Respondent: Shri Sumer Singh Meena, D.R

…ITA Nos.1267 & 1349/Bang/2019 ITA 142, 143, 144. 185, 186 & 187/Bang/2020 M/s. Karnataka State Police Housing & Infrastructure Development Corporation Ltd., Bangalore IN THE INCOME TAX APPELLATE TRIBUNAL “A’’ BENCH: BANGALORE BEFORE SHRI N.V. VASUDEVAN, VICE PRESIDENT AND SHRI B.R. BASKARAN, ACCOUNTANT MEMBER Assessment Year : 2014-15 M/s. Karnataka State Police Housing and Infrastructure Development Corporation Ltd. No.59, Richmond Road Vs. ACIT Circle-4(1)(1) Bengaluru 560 025 Bangalore PAN NO : AAACK6902E APPELLANT RESPONDENT Assessment Year : 2014-15 M/s. Karnataka State Police Housing and Infrastructu…

Assistant Commissioner of Income Tax, Circle- 4(1)(1), Bangalore vs. M/S. Karnataka State Police Housing & Infrastructure Development Corp Limited, Bangalore

In the result, all the appeals of the revenue and the appeal of the assessee for AY 2013-14 are dismissed and the appeals of the assessee for AY 2012-13 and 2014-15 are treated as partly allowed

ITA 1349/BANG/2019[2014-15]Status: DisposedITAT Bangalore25 Nov 2021AY 2014-15

Bench: Shri N.V. Vasudevan & Shri B.R. Baskaranassessment Year : 2014-15

For Appellant: Shri Ashok A Kulkarni, A.RFor Respondent: Shri Sumer Singh Meena, D.R

…ITA Nos.1267 & 1349/Bang/2019 ITA 142, 143, 144. 185, 186 & 187/Bang/2020 M/s. Karnataka State Police Housing & Infrastructure Development Corporation Ltd., Bangalore IN THE INCOME TAX APPELLATE TRIBUNAL “A’’ BENCH: BANGALORE BEFORE SHRI N.V. VASUDEVAN, VICE PRESIDENT AND SHRI B.R. BASKARAN, ACCOUNTANT MEMBER Assessment Year : 2014-15 M/s. Karnataka State Police Housing and Infrastructure Development Corporation Ltd. No.59, Richmond Road Vs. ACIT Circle-4(1)(1) Bengaluru 560 025 Bangalore PAN NO : AAACK6902E APPELLANT RESPONDENT Assessment Year : 2014-15 M/s. Karnataka State Police Housing and Infrastructu…

M/S. Karnataka State Police Housing and Infrastructure Development Corporation Limited, Bangalore vs. Assistant Commissioner of Income Tax, Circle- 4(1)(1), Bengaluru

In the result, all the appeals of the revenue and the appeal of the assessee for AY 2013-14 are dismissed and the appeals of the assessee for AY 2012-13 and 2014-15 are treated as partly allowed

ITA 1267/BANG/2019[2014-15]Status: DisposedITAT Bangalore25 Nov 2021AY 2014-15

Bench: Shri N.V. Vasudevan & Shri B.R. Baskaranassessment Year : 2014-15

For Appellant: Shri Ashok A Kulkarni, A.RFor Respondent: Shri Sumer Singh Meena, D.R

…ITA Nos.1267 & 1349/Bang/2019 ITA 142, 143, 144. 185, 186 & 187/Bang/2020 M/s. Karnataka State Police Housing & Infrastructure Development Corporation Ltd., Bangalore IN THE INCOME TAX APPELLATE TRIBUNAL “A’’ BENCH: BANGALORE BEFORE SHRI N.V. VASUDEVAN, VICE PRESIDENT AND SHRI B.R. BASKARAN, ACCOUNTANT MEMBER Assessment Year : 2014-15 M/s. Karnataka State Police Housing and Infrastructure Development Corporation Ltd. No.59, Richmond Road Vs. ACIT Circle-4(1)(1) Bengaluru 560 025 Bangalore PAN NO : AAACK6902E APPELLANT RESPONDENT Assessment Year : 2014-15 M/s. Karnataka State Police Housing and Infrastructu…

The Commissioner of Income Tax vs. M/S. Bangalore Metro Rail Corporation Ltd

In the result, the appeals stand dismissed

ITA/118/2015HC Karnataka23 Nov 2021

Bench: S.SUJATHA,HANCHATE SANJEEVKUMAR

Section 10(35)Section 260

…ucture project - 7 - relying on an indifferent decisions in the case of Commissioner of Income Tax and another vs. Karnataka Urban Infrastructure Development and Finance Corporation (KUIDFC) reported in (2009) 315 ITR 301 (Karn) and (2006) 284 ITR 582 (Karn) without appreciating that the assessee company has been incorporated as a joint venture company between the Government of Karnataka and Government of India for providing transport facility and to earn income from the sale of tickets to the customers, thus profit motive is germane to the project. 8. Learned Senior Counsel Sri. A.…

The Commissioner of Income Tax vs. M/S. Bangalore Metro Rail Corporation Ltd

In the result, the appeals stand dismissed

ITA/117/2015HC Karnataka23 Nov 2021

Bench: S.SUJATHA,HANCHATE SANJEEVKUMAR

Section 10(35)Section 260

…ucture project - 7 - relying on an indifferent decisions in the case of Commissioner of Income Tax and another vs. Karnataka Urban Infrastructure Development and Finance Corporation (KUIDFC) reported in (2009) 315 ITR 301 (Karn) and (2006) 284 ITR 582 (Karn) without appreciating that the assessee company has been incorporated as a joint venture company between the Government of Karnataka and Government of India for providing transport facility and to earn income from the sale of tickets to the customers, thus profit motive is germane to the project. 8. Learned Senior Counsel Sri. A.…

Joint Commissioner of Income Tax (OSD) Circle-4(1)(1), Bangalore vs. M/S Karnataka Road Developemnt Corporation Limited, Bangalore

In the result appeal filed by revenue in ITA No

ITA 935/BANG/2018[2013-14]Status: DisposedITAT Bangalore27 Nov 2020AY 2013-14

Bench: Shri Chandra Poojari & Smt. Beena Pillai

For Appellant: Shri. B. J. Shetty, CAFor Respondent: Shri. Pradeep Kumar, CIT(DR)
Section 43B

…h has been reproduced hereinabove. 5.5. At the outset, Ld.AR submitted that this issue stands squarely covered by decisions of Hon’ble Karnataka High Court in case of CIT vs Karnataka Urban Infrastructure Development and Finance Corporation reported in (2006) 284 ITR 582 and (2009) 351 ITR 301 and CIT vs Karnataka State Agricultural Produce Processing and Export Corporation Ltd., reported in (2015) 377 ITR 496 and Karnataka Municipal Data Society reported in (2016) 389 ITR 441. 5.5.1. He submitted that, contention of revenue that, interest on loans borrowed to be capitalised are not eligible for set off, is contr…

M/S Karnataka State Co-Operative Federation Limited, Bangalore vs. Assistant Commissioner of Income Tax Circle-1(2)(1), Bangalore

ITA 866/BANG/2019[2015-16]Status: DisposedITAT Bangalore03 Nov 2020AY 2015-16

Bench: Shri N.V. Vasudevan & Shri Chandra Poojari

For Appellant: Shri S. Ramasubramanyam, C.AFor Respondent: Shri Sumer Singh, Addl. CIT (D.R)
Section 57Section 57A

…riding title. He relied on judgements of Hon'ble Supreme Court in the case of CIT Vs. Sitaldas Tirathdas 41 ITR 367 and judgment of Hon'ble Karnataka High Court in the case of CIT Vs. Karnataka Urban Infrastructure Development and Finance Corporation (KUIDFC) 284 ITR 582; CIT Vs. Karnataka State Agricultural Produces Processing and Export Corporation Ltd. 377 ITR 496; CIT Vs. Pandavapura Sahakara Sakkare Kharkane Ltd. 198 ITR 690. He relied on the judgement of Hon'ble Supreme Court in the case of CIT Vs. Bijli Cotton Mills (P) Ltd. 116 ITR 60. Further he submitted that it cannot be treated as income in the hands…

M/S Karnataka State Co-Operative Federation Limited, Bangalore vs. Assistant Commissioner of Income Tax Circle-1(2)(1), Bangalore

ITA 865/BANG/2019[2014-15]Status: DisposedITAT Bangalore03 Nov 2020AY 2014-15

Bench: Shri N.V. Vasudevan & Shri Chandra Poojari

For Appellant: Shri S. Ramasubramanyam, C.AFor Respondent: Shri Sumer Singh, Addl. CIT (D.R)
Section 57Section 57A

…riding title. He relied on judgements of Hon'ble Supreme Court in the case of CIT Vs. Sitaldas Tirathdas 41 ITR 367 and judgment of Hon'ble Karnataka High Court in the case of CIT Vs. Karnataka Urban Infrastructure Development and Finance Corporation (KUIDFC) 284 ITR 582; CIT Vs. Karnataka State Agricultural Produces Processing and Export Corporation Ltd. 377 ITR 496; CIT Vs. Pandavapura Sahakara Sakkare Kharkane Ltd. 198 ITR 690. He relied on the judgement of Hon'ble Supreme Court in the case of CIT Vs. Bijli Cotton Mills (P) Ltd. 116 ITR 60. Further he submitted that it cannot be treated as income in the hands…

M/S. Karnataka State Co-Operative Federation Limited, Bangalore vs. Assistant Commissioner of Income-Tax, Circle - 1(2)(1), Bangalore

ITA 864/BANG/2019[2013-14]Status: DisposedITAT Bangalore03 Nov 2020AY 2013-14

Bench: Shri N.V. Vasudevan & Shri Chandra Poojari

For Appellant: Shri S. Ramasubramanyam, C.AFor Respondent: Shri Sumer Singh, Addl. CIT (D.R)
Section 57Section 57A

…riding title. He relied on judgements of Hon'ble Supreme Court in the case of CIT Vs. Sitaldas Tirathdas 41 ITR 367 and judgment of Hon'ble Karnataka High Court in the case of CIT Vs. Karnataka Urban Infrastructure Development and Finance Corporation (KUIDFC) 284 ITR 582; CIT Vs. Karnataka State Agricultural Produces Processing and Export Corporation Ltd. 377 ITR 496; CIT Vs. Pandavapura Sahakara Sakkare Kharkane Ltd. 198 ITR 690. He relied on the judgement of Hon'ble Supreme Court in the case of CIT Vs. Bijli Cotton Mills (P) Ltd. 116 ITR 60. Further he submitted that it cannot be treated as income in the hands…

M/S Infrastructure Development Fund, Chandigarh vs. DCIT, (Exemptions), C-2, Chandigarh

ITA 645/CHANDI/2018[2014-15]Status: DisposedITAT Chandigarh31 Jul 2020AY 2014-15

Bench: Shri Sanjay Garg & Ms. Annapurna Guptaआयकरअपीलसं./Ita No. 644 & 645/Chd/2018 "नधा"रणवष" / Assessment Year: 2009-10 & 2014-15 Infrastructure Development Deputy Commissioner Of Income Tax बनाम Fund (Exemptions) Circle-2, Sco-71-17 Sector-17C Chandigarh Chandigarh "थायीलेखासं./Pan No: Aaal10136K अपीलाथ"/Appellant ""यथ"/Respondent आयकरअपीलसं./Ita No. 528 /Chd/2017 "नधा"रणवष" / Assessment Year: 2013-14 Infrastructure Development Acit, बनाम Fund Circle-2 (Exemptions), Sco-71-17 Sector-17C Chandigarh Chandigarh "थायीलेखासं./Pan No: Aaal10136K अपीलाथ"/Appellant ""यथ"/Respondent "नधा"रती क" ओर से/Assessee By : Shri A. K. Jindal, Ca, Smt. Ratan Kaur & Shri Parikshit Aggarwal, Ca राज"व क" ओर से/ Revenue By : Shri Chandrajeet Singh, Cit(Dr) Smt. C. Chandrakanta, Cit-Dr सुनवाई क" तार"ख/Date Of Hearing : 05.03.2020 उदघोषणा क" तार"ख/Date Of Pronouncement : 31/07/2020

For Appellant: Shri A. K. Jindal, CA, Smt. Ratan KaurFor Respondent: Shri Chandrajeet Singh, CIT(DR)
Section 11Section 11(2)Section 12A

…Development Fund”. For this, reliance is being placed on the following judgments:- ITA No. 644 & 645/Chd/2018-& 528/2017 Infrastructure Development Fund, Chandigarh vs. DCIT, Chandigarh 11 • CIT Vs. Karnataka Urban infrastructure Development & Finance Corp. 284 ITR 582 (Ker.) (P. B. Page 7 of Ist Paper Book. • Saharanpur Development Authority Vs. ACIT 8 TR (Trib.) 263 Del.(Ist PB Page 12) • CIT Vs. DTTDC 119 Taxman 26 (Del. H.C.) and other judgments on Ist PB Page 7-9 The aforesaid submissions prove that the amount received belongs to the government. To substantiate further reference is drawn to the following f…

M/S Infrastructure Development Fund, Chandigarh vs. DCIT, (Exemptions), C-2, Chandigarh

ITA 644/CHANDI/2018[2009-10]Status: DisposedITAT Chandigarh31 Jul 2020AY 2009-10

Bench: Shri Sanjay Garg & Ms. Annapurna Guptaआयकरअपीलसं./Ita No. 644 & 645/Chd/2018 "नधा"रणवष" / Assessment Year: 2009-10 & 2014-15 Infrastructure Development Deputy Commissioner Of Income Tax बनाम Fund (Exemptions) Circle-2, Sco-71-17 Sector-17C Chandigarh Chandigarh "थायीलेखासं./Pan No: Aaal10136K अपीलाथ"/Appellant ""यथ"/Respondent आयकरअपीलसं./Ita No. 528 /Chd/2017 "नधा"रणवष" / Assessment Year: 2013-14 Infrastructure Development Acit, बनाम Fund Circle-2 (Exemptions), Sco-71-17 Sector-17C Chandigarh Chandigarh "थायीलेखासं./Pan No: Aaal10136K अपीलाथ"/Appellant ""यथ"/Respondent "नधा"रती क" ओर से/Assessee By : Shri A. K. Jindal, Ca, Smt. Ratan Kaur & Shri Parikshit Aggarwal, Ca राज"व क" ओर से/ Revenue By : Shri Chandrajeet Singh, Cit(Dr) Smt. C. Chandrakanta, Cit-Dr सुनवाई क" तार"ख/Date Of Hearing : 05.03.2020 उदघोषणा क" तार"ख/Date Of Pronouncement : 31/07/2020

For Appellant: Shri A. K. Jindal, CA, Smt. Ratan KaurFor Respondent: Shri Chandrajeet Singh, CIT(DR)
Section 11Section 11(2)Section 12A

…Development Fund”. For this, reliance is being placed on the following judgments:- ITA No. 644 & 645/Chd/2018-& 528/2017 Infrastructure Development Fund, Chandigarh vs. DCIT, Chandigarh 11 • CIT Vs. Karnataka Urban infrastructure Development & Finance Corp. 284 ITR 582 (Ker.) (P. B. Page 7 of Ist Paper Book. • Saharanpur Development Authority Vs. ACIT 8 TR (Trib.) 263 Del.(Ist PB Page 12) • CIT Vs. DTTDC 119 Taxman 26 (Del. H.C.) and other judgments on Ist PB Page 7-9 The aforesaid submissions prove that the amount received belongs to the government. To substantiate further reference is drawn to the following f…

M/S Infrastructure Development Fund, Chandigarh vs. ACIT (Exemptions), Chandigarh

ITA 528/CHANDI/2017[2013-14]Status: DisposedITAT Chandigarh31 Jul 2020AY 2013-14

Bench: Shri Sanjay Garg & Ms. Annapurna Guptaआयकरअपीलसं./Ita No. 644 & 645/Chd/2018 "नधा"रणवष" / Assessment Year: 2009-10 & 2014-15 Infrastructure Development Deputy Commissioner Of Income Tax बनाम Fund (Exemptions) Circle-2, Sco-71-17 Sector-17C Chandigarh Chandigarh "थायीलेखासं./Pan No: Aaal10136K अपीलाथ"/Appellant ""यथ"/Respondent आयकरअपीलसं./Ita No. 528 /Chd/2017 "नधा"रणवष" / Assessment Year: 2013-14 Infrastructure Development Acit, बनाम Fund Circle-2 (Exemptions), Sco-71-17 Sector-17C Chandigarh Chandigarh "थायीलेखासं./Pan No: Aaal10136K अपीलाथ"/Appellant ""यथ"/Respondent "नधा"रती क" ओर से/Assessee By : Shri A. K. Jindal, Ca, Smt. Ratan Kaur & Shri Parikshit Aggarwal, Ca राज"व क" ओर से/ Revenue By : Shri Chandrajeet Singh, Cit(Dr) Smt. C. Chandrakanta, Cit-Dr सुनवाई क" तार"ख/Date Of Hearing : 05.03.2020 उदघोषणा क" तार"ख/Date Of Pronouncement : 31/07/2020

For Appellant: Shri A. K. Jindal, CA, Smt. Ratan KaurFor Respondent: Shri Chandrajeet Singh, CIT(DR)
Section 11Section 11(2)Section 12A

…Development Fund”. For this, reliance is being placed on the following judgments:- ITA No. 644 & 645/Chd/2018-& 528/2017 Infrastructure Development Fund, Chandigarh vs. DCIT, Chandigarh 11 • CIT Vs. Karnataka Urban infrastructure Development & Finance Corp. 284 ITR 582 (Ker.) (P. B. Page 7 of Ist Paper Book. • Saharanpur Development Authority Vs. ACIT 8 TR (Trib.) 263 Del.(Ist PB Page 12) • CIT Vs. DTTDC 119 Taxman 26 (Del. H.C.) and other judgments on Ist PB Page 7-9 The aforesaid submissions prove that the amount received belongs to the government. To substantiate further reference is drawn to the following f…