CIT v. Madras Race Club

Power Loom Development and Export Promotion Council, Mumbai vs. Income Tax Officer (Exem) Ward 2(2), Mumbai

In the result appeal filed by the assessee stands partly allowed for statistical purposes

Bench: Smt. Beena Pillai () & Shri Omkareshwar Chidara ()

…utuality that no one can make profit out of himself. i. CIT v. Kumbakonam Mutual Benefit Fund Ltd. 53 ITR 241 (Supreme Court). 5 I.T.A. No.1060/Mum/2025 Assessment Year: 2013-14 Powerloom Development And Export Promotion Council ii. CIT v. Madras Race Club -105 ITR 433 (Madras High Court) & CIT v. Northern India Motion Pictures Association-180 ITR 160 (Punjab & Haryana High Court) iii. CIT v. Cochin Oil Merchants' Association -168 ITR 240 (Kerala High Court) English & Scottish Joint Co-operative Wholesale Soc. Ltd. v. C. Ag IT -16 ITR 270 (Privy Council) iv. CIT v. Ranchi Club Ltd.- 196 ITR 137 (Patna High Cour…

M/S Federation of Freight Forwarders Associations in India, Mumbai vs. ITO 1(3), Mumbai

In the result, ground no.1 of the assessee is allowed and additions amounting to Rs

Bench: Shri Pavan Kumar Gadale & Shri Gagan Goyalm/S Federation Of Freight Forwarders Associations, 311/313, Mahinder Chambers, W.T. Patil Marg, Opp. Dukes Factory, Chembur, Mumbai-400071 Pan: Aaatf0039J ...... Appellant Vs. Ito (Exemption)-1(3), Piramal Chambers 4Th Floor, Dr. S.S. Road, Parel, Mumbai-400012. ..... Respondent Appellant By : Sh. Nitesh Joshi Respondent By : Sh. Indira Adakil, Cit-Dr Date Of Hearing : 13/04/2022 Date Of Pronouncement : 07/07/2022 Order Per Gagan Goyal, A.M:

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “SMC”, MUMBAI BEFORE SHRI PAVAN KUMAR GADALE, JUDICIAL MEMBER AND SHRI GAGAN GOYAL, ACCOUNTANT MEMBER M/s Federation of Freight Forwarders Associations, 311/313, Mahinder Chambers, W.T. Patil Marg, Opp. Dukes Factory, Chembur, Mumbai-400071 PAN: AAATF0039J ...... Appellant Vs. ITO (Exemption)-1(3), Piramal Chambers 4th Floor, Dr. S.S. Road, Parel, Mumbai-400012. ..... Respondent Appellant by : Sh. Nitesh Joshi Respondent by : Sh. Indira Adakil, CIT-DR Date of hearing : 13/04/2022 Date of pronouncement : 07/07/2022 ORDER PER GAGAN GOYAL, A.M: This appeal by the…

All India Liquid Bulk Impoerters & Exporters Asssociation, Mumbai vs. ADIT(E)-II(2), Mumbai

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

Bench: Shri Om Prakash Kant & Shri Pavan Kumar Gadaleall India Liquid Bulk Vs. Adit(E)-Ii(2) Importers & Exporters Piramal Chambers, Association Lalbaug, Parel, 501- Mulratna, Mumbai – 400012. 334- Katha Bazar, Masjid, Mumbai – 400009. "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aagca5018F Appellant .. Respondent Appellant By : Mr.Paresh Shaparia.C.A. Ar Respondent By : Mr.Kailash Mangal.Sr.Dr Date Of Hearing 08.02.2022 Date Of Pronouncement 14.02.2022 आदेश / O R D E R Per Pavan Kumar Gadale Jm: The Assessee Has Filed The Appeal Against The Order Of The Cit(A)-3, Mumbai Passed U/S 143(3) & 250 Of The Income Tax Act, 1961.The Assessee Has Raised The Fallowing Grounds Of Appeal: I. Confirmation Of Treatment Of The Non-Profit Organisation As A Mutual Concern & Denying Exemption U/S 11: 1. The Learned C1.T(A) Erred In Confirming Treatment Of The All Inida Liquid Bulk Importers & Exporters Association, Mumbai. Appellant As A Mutual Association Created Exclusively For The Benefit Of Its Members. 2. The Learned Cit(A) Failed To Appreciate The Fact That The Basic Conditions Of The Concept Of Mutuality Are Not Satisfied, Hence The Same Is Not Applicable To The Appellant.

…to reserve with the activities in appropriate cases be separated and the profits if any from the members can be taken for exemption on the basis of actnal from the accounts or at any rate by estimate if it should become necessary (CIT Vs madras Race Race Club 105 ITR 433 Madras) and the profits derived from non members can be brought to tax (Sports Club of Madras Ltd. v./ s CIT 171 rat 504). CIT Vs. Ranchi Club Ltd 196 ITR 137 (Patna Full Bench), Spl Vi. Leave pdration granted by the Supreme Court 194 ITR (ST) 236 (SC). The s---rplus receipts of members over its expenses have been sought to be from Income tax on…

The Association of Physician of India, Mumbai vs. Asst Director of Income Tax (E) II (2), Mumbai

In the result, Ground No.1 of the assessee’s appeal is allowed

…s with members. The two activities in appropriate cases be separated and the profits if any from the members can be taken for exemption on the basis of actual from the accounts or at any rate by estimate if it should become necessary (CIT v/s Madras Race Club 105 ITR 433 Madras) and the profits derived from non-members can be brought to tax (Sports Club of Madras Ltd. v/s CIT 171 ITR 504). v. CIT v/s Ranchi Club Ltd 196 ITR 137 (Patna Full Bench), Spl Leave petition granted by the Supreme Court 194 ITR (ST) 236 (SC). The surplus receipts of members over its expenses have been sought to be exempted from Income tax…

Income Tax Officer-23(1)(2), Mumbai vs. Indian Corporate Loan Securities Trust 2008 Series 14, Mumbai

In the result, Revenue's appeal for A

Bench: Shri M.Balaganesh, Am & Shri Ravish Sood, Jm The Ito-23(1)(2) Vs. M/S. Indian Corporate Loan Room No.18 Securities Trust 2008 Matru Mandir Series 14 Grant Road Il & Fs Financial Centre Mumbai – 400 007 Plot No.C-22, G Block 3Rd Floor, Bandra Kurla Complex, Bandra East Mumbai – 400 051 Pan/Gir No. Aaat16786P (Appellant) .. (Respondent) The Ito-23(1)(2) Vs. M/S. Indian Corporate Loan Room No.18 Securities Trust Series Iii Matru Mandir 2009 Grant Road Il & Fs Financial Centre Mumbai – 400 007 Plot No.C-22, G Block Bandra Kurla Complex, Bandra East Mumbai – 400 051 Pan/Gir No. Aaat17440L (Appellant) .. (Respondent) The Ito-23(1)(2) Vs. M/S. Indian Corporate Loan Room No.18 Securities Trust Series Matru Mandir 2008 Series 36 Grant Road Il & Fs Financial Centre Mumbai – 400 007 Plot No.C-22, G Block Bandra Kurla Complex, Bandra East Mumbai – 400 051 Pan/Gir No. Aaat16925L (Appellant) .. (Respondent) आदेश / O R D E R Per Bench: These Appeals In Ita No.4789/Mum/2017, 4791/Mum/2017 & 4794/Mum/2017 For A.Y.2010-11 Arise Out Of The Order By The Ld. Commissioner Of Income Tax (Appeals)-32, Mumbai In Appeal No.Cit(A)- 32/It-604/23(1)(2)/2015-16, Cit(A)-32/It-48/19(3)(2)/2012-13 & Cit(A)-32/It-483/Ito-19(3)(4)/12-13 Respectively Dated 24/04/2017 (Ld. Cit(A) In Short) Against The Order Of Assessment Passed U/S.143(3) Of The Income Tax Act, 1961 (Hereinafter Referred To As Act) Dated 26/02/2016, 31/10/2012 Respectively By The Ld. Income Tax Officer – 23(1)(2) & 19(3)(2) Respectively, Mumbai (Hereinafter Referred To As Ld. Ao).

…IN THE INCOME TAX APPELLATE TRIBUNAL “C”, BENCH MUMBAI BEFORE SHRI M.BALAGANESH, AM & SHRI RAVISH SOOD, JM The ITO-23(1)(2) Vs. M/s. Indian Corporate Loan Room No.18 Securities Trust 2008 Matru Mandir Series 14 Grant Road IL & FS Financial Centre Mumbai – 400 007 Plot No.C-22, G Block 3rd Floor, Bandra Kurla Complex, Bandra East Mumbai – 400 051 PAN/GIR No. AAAT16786P (Appellant) .. (Respondent) The ITO-23(1)(2) Vs. M/s. Indian Corporate Loan Room No.18 Securities Trust Series III Matru Mandir 2009 Grant Road IL & FS Financial Centre Mumbai – 400 007 Plot No.C-22, G Block Bandra Kurla Complex, Bandra East Mumba…