CIT v. Shri Plot Swetambar Murti Pujak Jain Mandal

119 CTR 144High Court1994#22145 most cited

judgments rely on this decision, according to BharatTax’s citation analysis of 366,314 Indian tax judgments — from 2018 to 2021.

Judgments citing CIT v. Shri Plot Swetambar Murti Pujak Jain Mandal

ACIT (Exemption), Circle-2 (1), New Delhi vs. Subros Educational Society, New Delhi

In the result, the appeal of the Revenue is dismissed

ITA 7326/DEL/2017[2013-14]Status: DisposedITAT Delhi16 Jul 2021AY 2013-14

Bench: Shri O.P. Kant & Shri Kuldip Singh[Through Video Conferencing] Assessment Year: 2013-14

Section 11Section 143(3)Section 15Section 70

…e trust for charitable and religious purposes in the subsequent year in which such adjustment has been made and will have to be excluded from the income of the trust under section 11(1)(a)." 4.2.3 In CIT v. Shri Plot Swetamber Murti Pujak Jain Mandal [(1994) 119 CTR 144 (Guj.)], the Hon'ble Gujarat High Court referred to CBDT Circular No. 100, dated 24.01.1973 which allowed repayment of loan taken in earlier years for fulfillment of charitable objects as application. The Hon'ble Court held that the same principle should apply if instead of taking loan the organization spent more out of its corpus and it is reimb…

ACIT(E), Circle-2(1), New Delhi vs. The British School Society, New Delhi

In the result the appeal of the Revenue in ITA No

ITA 4579/DEL/2017[2014-15]Status: DisposedITAT Delhi21 Jun 2021AY 2014-15

Bench: Shri N.K. Billaiya & Shri Kuldip Singh

For Appellant: Shri Himanshu Agarwal, AdvFor Respondent: ShriH.K. Choudhary , CIT-DR

Section 10Section 11Section 12ASection 15Section 2(15)Section 70Section 80G(5)(vi)

…nt case, the Tribunal was justified in law in allowing carrying forward of the deficit of earlier year and set it off against the surplus of subsequent years." 12. The Hon'ble High Court of Gujarat in the case of Shri Plot Swetamber Murti Pujak Jain Mandal 119 CTR 144 [Guj] had the occasion to consider the CBDT No. 100 dated 24.01.1973 which allowed repayment of loan taken in earlier years for fulfilment of charitable objects as application. 13. The Hon'ble High Court was of the view that the same principle should apply if instead of taking the loan the organization spent more out of its corpus and it is re…

The Assistant Commisioner of Income Tax (Exemptions) Circle-1, Mangalore vs. M/S Sri Jagadguru Murugarajendra Vidyapeeta, Chitradurga

In the result, appeals of the Revenue are dismissed

ITA 1639/BANG/2018[2009-10]Status: DisposedITAT Bangalore28 Sept 2018AY 2009-10

Bench: Shri. A. K. Garodia

For Appellant: Shri. Sandeep C, CAFor Respondent: Ms. Nandini Das, Addl. CIT

Section 11Section 11(1)

…ITA.1639 & 1640/Bang/2018 Page - 1 IN THE INCOME TAX APPELLATE TRIBUNAL BENGALURU BENCH 'B', BENGALURU BEFORE SHRI. A. K. GARODIA, ACCOUNTANT MEMBER AND SHRI. LALIET KUMAR, JUDICIAL MEMBER I.T.A Nos.1639 & 1640/Bang/2018 (Assessment Year : 2009-10 and 2012-13) Asst. Commissioner of Income-tax (Exemptions), Circle - 1, Mangaluru .. Appellant v. M/s. Sri Jagadguru Murugarajendra Vidyapeeta, Matada Kurubarahatti, Chitradurga .. Respondent PAN : AABAS8314B Assessee by : Shri. Sandeep C, CA Revenue by : Ms. Nandini Das, Addl. CIT Heard on : 18.09.2018 Pronounced on : 28.09.2018 O R D E R PER LALIET KUMAR, J…