CIT v. Shri Plot Swetamber Murti Pujak Jain Mandal

211 ITR 293High Court1995#444 most cited

What is CIT v. Shri Plot Swetamber Murti Pujak Jain Mandal authority for?

A charitable trust can carry forward its excess expenditure from previous years and adjust it against the income of subsequent years, which qualifies as an application of income under Section 11. Additionally, voluntary contributions received for a specific purpose are treated as corpus funds and are not taxable.

204

judgments rely on this decision, according to BharatTax’s citation analysis of 366,470 Indian tax judgments — from 2015 to 2026.

Also referred to as

CIT v. Shri Plot Swetamber Murti Pujak Jain Mandal · 211 ITR 293 · Section 11 Income Tax Act · Section 12A Income Tax Act · charitable trust carry forward losses · application of income · excess expenditure adjustment · voluntary contributions · specific purpose donations · corpus fund · capital receipt · Section 11(1)(a)

Sections most often in play

Section 11Section 12ASection 143(3)Section 11(1)(a)Section 11(1)(c)Section 11(2)Section 250Section 11 to 13 of the Income Tax Act

Issues it is cited on

carry forward of lossessection 11(1)(a)section 11(1)application of incomesection 28section 12asection 12section 11previous yearsection 13personsection 143(3)

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

Kanohar Lal Trust Society, Meerut vs. ACIT, Meerut

In the result appeal of the assessee is allowed

ITA 4312/DEL/2015[2010-11]Status: DisposedITAT Delhi29 May 2017AY 2010-11

Bench: Shri I.C.Sudhir & Shri Prashant Maharishikanohar Lal Trust Society, Vs. Acit, 125,Trishla Bhawan, Circle-1, Meerut Hari Nagar, Meerut, Pan:Aabts3019G (Appellant) (Respondent)

For Appellant: Sh. K Sampath, AdvFor Respondent: Sh. Rajesh Kumar, Sr. DR
Section 11Section 11(1)Section 12ASection 13Section 143(3)Section 28Section 72

…Act and that such adjustment will have to be excluded from the income of the trust under section 11(1)(a) of the Act. Our view is also supported by the judgment of the Gujarat High Court in the case of CIT v. Shri Plot Swetamber Murti Pujak Jain Mandal [1995] 211 ITR 293. Accordingly, we answer question No. 3 in the affirmative, i.e., in favour of the assessee and against the Department.” 5. In view of above decision of Hon'ble High Court we do not find that the orders of the lower authorities are in accordance with the law. In view of this we reverse the findings of the lower authorities and direct the Assessing…

DCIT, Bangalore vs. M/S G M Education Trust, Bangalore

In the result, the appeal of revenue and C

ITA 890/BANG/2016[2011-12]Status: DisposedITAT Bangalore19 May 2017AY 2011-12

Bench: Shri Vijay Pal Rao & Shri Inturi Rama Rao

For Respondent: Shri G. Kamaladhar, D.R

…r will amount to application of income of such later year. The above is the position of law as held in the case of CIT Vs. Maharana of Mewar Charitable Foundation 164 ITR 439 (Raj); CIT Vs. Shri Plot Swetamber Murti 9 & C.O. No.29/Bang/2017 Pujak Jain Mandal 211 ITR 293 (Guj.). In CIT Vs. Institute of Banking Personnel Selection 264 ITR 110 (Bom), it was held that in case of charitable trust whose income is exempt under s. 11, excess ITA No.676/Bang/2014 Page 9 of 11 of expenditure in the earlier years can be adjusted against income of subsequent years and such adjustment would be application of income for subse…

ITO (Exemprion)-1(1) Mumbai, Mumbai vs. Bombay Natural History Society, Mumbai

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

ITA 5143/MUM/2016[2011-12]Status: DisposedITAT Mumbai12 May 2017AY 2011-12

Bench: Shri C.N. Prasad () & Shri N.K. Pradhan () Assessment Year: 2011-12

For Appellant: NoneFor Respondent: Ms. Anju Goradia, DR
Section 11Section 11(1)(a)Section 12ASection 13Section 143(3)Section 28

…Act and that such adjustment will have to be excluded from the income of the Trust under section 11(1)(a) of the Act. Our view is also supported by the Judgment of the Gujarat High Court in the case of CIT v. Shri Plot Swetamber Murti Pujak Jain Mandal [1995] 211 ITR 293 . Accordingly, we answer question No. 3 in the affirma-tive i.e., in favour of the assessee and against the Department.” 6. We find that the learned CIT(A) has rightly followed the above judgement of the Hon'ble Bombay High Court and directed the A.O. to allow the carry forward and set off of deficit after due verification of facts. We uphold th…

ACIT(E) 2(1), Mumbai vs. Padmshree Dr D.Y. Patil University, Navi Mumbai

In the result, appeal of the Revenue is dismissed

ITA 2035/MUM/2015[2010-11]Status: DisposedITAT Mumbai04 May 2017AY 2010-11

Bench: Shri C.N. Prasad & Shri Ramit Kochar

For Appellant: Shri B.C.S.NaikFor Respondent: Shri Reepal G Traishawala
Section 11Section 11(1)Section 32

…Act and that such adjustment will have to be excluded from the income of the trust under section 11(1)(a) of the Act. Our view is also supported by the judgment of the Gujarat High Court in the case of CIT v. Shri Plot Swetamber Murti Pujak Jain Mandal [1995] 211 ITR 293. Accordingly, we answer question No. 3 in the affirmative, i.e., in favour of the assessee and against the Department.” Therefore as could be seen from the above, both the questions have been answered in favour of the Assessee and against the department. 6 ITA No.2035/Mum/2015, A.Y 2010-11 M/s Padamshree Dr.D.Y.Patil University 6. The Hon’ble…

Assistant Commissioner of Income Tax, Mangalore vs. M/S.Islamic Academy of Education, Mangalore

In the result, the appeals filed by the revenue are dismissed

ITA 2111/BANG/2016[2004-05]Status: DisposedITAT Bangalore03 May 2017AY 2004-05

Bench: Shri Inturi Rama Rao & Shri Sudhanshu Srivastava

For Appellant: Shri R.N.Siddappaji, Addl.CITFor Respondent: Shri P.Dinesh, Advocate
Section 11(1)(a)

…l amount to application of income of such later year. The above is the position of law as held in the case of CIT v. Maharana of Mewar Charitable Foundation [1987] 164 ITR 439/[1986] 29 Taxman 476 (Raj) and CIT v. Plot Swetamber Murti Pujak Jain Mandal [1995] 211 ITR 293 (Guj.). In CIT v. Institute of Banking Personnel Selection [2003] 264 ITR 110/131 Taxman 386 (Bom.) it was held that in case of charitable trust whose income is exempt under 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 a…

Income Tax -Officer, Mangalore vs. M/S. Manaswini Mental Health & Charitable Trust, Mangalore

In the result, the appeal of the revenue is dismissed

ITA 1965/BANG/2016[2014-15]Status: DisposedITAT Bangalore02 May 2017AY 2014-15

Bench: Shri Inturi Rama Rao & Shri Sudhanshu Srivastavaincome-Tax Officer (Exemptions), Ward-1, Mangaluru. ... Appellant Vs. Manaswini Mental Health & Charitable Trust, D.No.15-6-309/3, Premavathy Bldg., Balmatta, Mangaluru. ... Respondent Pan: Aadtm 0763H

For Appellant: Shri Siddappaji, Addl.CIT(DR)For Respondent: None
Section 11(1)(a)Section 12A

…l amount to application of income of such later year. The above is the position of law as held in the case of CIT v. Maharana of Mewar Charitable Foundation [1987] 164 ITR 439/[1986] 29 Taxman 476 (Raj) and CIT v. Plot Swetamber Murti Pujak Jain Mandal [1995] 211 ITR 293 (Guj.). In CIT v. Institute of Banking Personnel Selection [2003] 264 ITR 110/131 Taxman 386 (Bom.) it was held that in case of charitable trust whose income is exempt under s. 11, excess of expenditure in the earlier years can be adjusted against income of subsequent years and such adjustment would be application Page 4 of 5 of income for subseq…

DCIT, Bangalore vs. M/S Chalasani Education Trust, Bangalore

In the result, the appeal of revenue is dismissed

ITA 887/BANG/2016[2011-12]Status: DisposedITAT Bangalore26 Apr 2017AY 2011-12

Bench: Shri Vijay Pal Rao & Shri Inturi Rama Rao

For Appellant: Shri G. Kamaladhar, D.RFor Respondent: Dr.N.Suresh, C.A
Section 11(1)(a)

…t the income of a later year will amount to application of income of such later year. The above is the position of law as held in the case of CIT Vs. Maharana of Mewar Charitable Foundation 164 ITR 439 (Raj) CIT Vs. Shri Plot Swetamber Murti Pujak Jain Mandal 211 ITR 293 (Guj.). In CIT Vs. Institute of Banking Personnel Selection 264 ITR 110 (Bom), it was held that in case of charitable trust whose income is exempt under 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 and that depreciation…

ITO, Bangalore vs. Sharddha Trust, Bangalore

In the result, the appeal filed by the revenue is treated as partly allowed for statistical purposes

ITA 899/BANG/2016[2011-12]Status: DisposedITAT Bangalore07 Apr 2017AY 2011-12

Bench: Shri Vijay Pal Rao & Shri Inturi Rama Raoincome-Tax Officer (Exemptions), Ward-3, Bengaluru. … Appellant Vs. Shraddha Trust, No.37/10, Yellappa Chetty Layout, Ulsoor Road, Bengaluru-560042. … Respondent Pan: Aacts 7373J

For Appellant: Shri G.Kamaladhar, Standing Counsel for DepartmentFor Respondent: None
Section 11(6)Section 12ASection 143(1)Section 143(3)Section 28

…l amount to application of income of such later year. The above is the position of law as held in the case of CIT v. Maharana of Mewar Charitable Foundation [1987] 164 ITR 439/[1986] 29 Taxman 476 (Raj) and CIT v. Plot Swetamber Murti Pujak Jain Mandal [1995] 211 ITR 293 (Guj.). In CIT v. Institute of Banking Personnel Selection [2003] 264 ITR 110/131 Taxman 386 (Bom.) it was held that in case of charitable trust whose income is exempt under 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 a…

Dy.DIT, Bangalore vs. Maharani Lakshmi Ammani College Trust, Bangalore

In the result, the revenue’s appeals are dismissed

ITA 391/BANG/2016[2009-10]Status: DisposedITAT Bangalore31 Mar 2017AY 2009-10

Bench: Shri Vijay Pal Rao & Shri S. Jayaraman

For Appellant: Ms. Neera Malhotra, CIT (DR) (ITAT)-2, BengaluruFor Respondent: Shri P.R. Suresh, C.A
Section 11(1)(a)

…t the income of a later year will amount to application of income of such later year. The above is the position of law as held in the case of CIT Vs. Maharana of Mewar Charitable Foundation 164 ITR 439 (Raj) CIT Vs. Shri Plot Swetamber Murti Pujak Jain Mandal 211 ITR 293 (Guj.). In CIT Vs. Institute of Banking Personnel Selection 264 ITR 110 (Bom), it was held that in case of charitable trust whose income is exempt under 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 and that depreciation…

Seth Walchand Hirachand Memorial Trust, Mumbai vs. ITO (E) II(1), Mumbai

In the result, the appeal filed by the assessee is hereby ordered to be Allowed

ITA 4852/MUM/2016[2010-11]Status: DisposedITAT Mumbai29 Mar 2017AY 2010-11

Bench: Shri D. Karunakara Rao, Am & Shri Amarjit Singh, Jm

For Appellant: Ms. Vaibhavi PatelFor Respondent: Shri M. C. Omi Ningshan
Section 10(33)Section 11Section 11(1)(a)Section 12ASection 142(1)Section 143(2)

…t and that such adjustment will have to be excluded from the income of the trust under section 11(1)(a) of the Act. Our view is also supported by the judgement of the Gujarat High Court in the case of CIT Vs. Shri Plot Swetamber Murti Pujak Jain Mandal [1995] 211 ITR 293. Accordingly, we answer question No.3 in the affirmative, i.e. in favour of the assessee and against the department.” 10. By following the above said laws of the Hon’ble Income Tax Appellate Tribunal in case of ADIT (E) 1(2) Vs. Sayaji Ubakhin Memorial Trust (ITA No.5646/Mum/2011) and in case of ITO(E) Vs. Shri Sadguru Seva Trust (ITA No.3387/Mu…

Patanjali Yogpeeth (Nyas), Delhi vs. ADIT(Exemption), New Delhi

Appeal is allowed

ITA 2267/DEL/2013[2009-10]Status: DisposedITAT Delhi09 Feb 2017AY 2009-10

Bench: Shri I.C. Sudhir & Shri L. P. Sahu

For Appellant: Shri Ajay Vohra, Sr. Adv.; &For Respondent: Shri N. C. Swain, CIT [DR]
Section 11(1)(a)Section 11(5)Section 13Section 142Section 2(15)

…st: 198 ITR  598(Guj) CIT v. Raipur Pallottine Society: 180 ITR 579 (MP)   CIT v. Society of the Sisters of St. Anne: 146 ITR 28 (Kar) CIT v. Maharana of Mewar Charitable Foundation: 164 ITR 439 (Raj)   CIT v. Shri Plot Swetamber Murti Pujak Jain Mandal: 211 ITR 293 (Guj) CIT V. Programme for Community Organisation: 228 ITR 620 (Ker.)  The aforesaid principle has also been affirmed by the Hon’ble Tribunal in the case of Divya Yog Mandir Trust (supra), wherein after holding that the activities undertaken by the assessee trust was charitable in nature and that it was entitled to claim exemption under sections…

ACIT (E) -2(1), Mumbai vs. Shri Vile Parle Kelvani Mandal, Mumbai

In the result, the appeal of the revenue stands dismissed

ITA 3080/MUM/2015[2010-11]Status: DisposedITAT Mumbai27 Jan 2017AY 2010-11

Bench: Shri Mahavir Singh, Jm & Shri Rajesh Kumar, Am आमकय अऩीर सं./I.T.A. 3080/Mum/2015 (ननधधायण वषा / Assessment Year: 2010-11) Asstt.Commissioner Of Income Shri Vile Parle Kelvani Tax-2(1), Mandal, Room No.510, 5Th Floor, Shri Bhaidas Maganlal फनधभ/ Piramal Chambers, Sabhagriha Building, Vs. Parel, Mumbai-400012. Shaktivedanta Swami Marg, Juhu, Mumbai-400056 स्थधमी रेखध सं./ जीआइआय सं./ Pan : Aabts8228H (अऩीरधथी /Applicant) (प्रत्मथी / Respondent) : अऩीरधथी की ओय से / Applicant By : Shri T A Khan प्रत्मथी की ओय से/Respondent By : Shri R K Sinha सुनवधई की तधयीख /Date Of Hearing : 18.1.2017 घोषणध की तधयीख /Date Of : 27.1.2017 Pronouncement आदेश / O R D E R Per Rajesh Kumar, A. M: This Is An Appeal Filed By The Revenue Challenging The Order Dated 27.2.2015 Passed By The Ld.Cit(A) Against Holding That The Income From Letting Out Hall For Marriage Purpose & Space For Advertising Is Not A Business Activity.

For Respondent: Shri R K Sinha
Section 11

…and that such adjustment will have to be excluded from the income of the Trust under section 11 (1 Ha) of the Act. Our view is also supported by the judgement of the Gujarat High Court in the case of CIT v. Shri Plot Shwetamber Murti Pujak Jain Mandal (1995) 211 ITR 293", Accordingly, the AO is directed to follow the principles laid down by Hon'ble Bombay High Court in the case of Institute of Banking Personnel (supra) and allow the appellant to carry forward the deficit of earlier years (after set-off, if any in the current year) after due process of verification. Ground of appeal No. 4 is treated to be allowed…

ITO (E) 2(1), Mumbai vs. Malti Vasant Heart Trust, Mumbai

In the result, Revenue’s appeal for A

ITA 2662/MUM/2015[2009-10]Status: DisposedITAT Mumbai04 Jan 2017AY 2009-10

Bench: Shri Jason P Boaz, Am & Shri Ram Lal Negi, Jm Ito (E) 2(1), Mumbai Vs. Malti Vasant Heart Trust, Rao Saheb Achyut Road, Patwardan Marg, Four Bunglow, Andheri – West, Mumbai – 400 053 Pan/Gir No. Aaatm4563A Appellant) .. Respondent)

Section 11Section 11(1)(a)Section 11(1)(d)Section 143(3)

…Act and that such adjustment will have to be excluded from the income of the Trust under section 11(1)(a) of the Act. Our view is also supported by the judgment of the Gujarat High Court in the case of CIT v. Shri Plot Swetamber Murti Pujak Jain Mandal (1995) 211 ITR 293 (Guj). Accordingly, we answer question No. 3 in the affirmative i.e., in favour of the assessee and against the department. 3.3.2. Respectfully, following the decision of the Hon’ble Bombay High Court in the case of Institute of Banking Personnel Selection (2003) 264 ITR 110 (Bom), and finding no error in the finding of the learned CIT(A) in the…

DCIT (Exemption), Ghaziabad vs. M/S. City Educational and Social Welfare Society, Meerut

In the result, the appeal of the assessee is allowed

ITA 6070/DEL/2015[2010-11]Status: DisposedITAT Delhi16 Dec 2016AY 2010-11

Bench: Shri H.S. Sidhu & Shri Prashant Maharishi

For Appellant: NoneFor Respondent: Sh. Umesh Chand Dubey, Sr. DR
Section 11Section 12ASection 142(1)Section 143(1)Section 143(2)Section 143(3)

…IN THE INCOME TAX APPELLATE TRIBUNAL DELHI BENCH “D”, NEW DELHI BEFORE SHRI H.S. SIDHU, JUDICIAL MEMBER AND SHRI PRASHANT MAHARISHI, ACCOUNTANT MEMBER I.T.A. No. 6070/DEL/2015 A.Y. : 2010-11 M/s City Educational & Social DCIT (Exemption), VS Welfare Society, Circle-Ghaziabad 47/L-4, Jawahar Quarters, Begum CGO-II, Kamla Nehru Nagar, Bridge, Ghaziabad Meerut (PAN: AAATC0960H) (APPELLANT) (APPELLANT) (APPELLANT) (APPELLANT) (RESPONDENT) (RESPONDENT) (RESPONDENT) (RESPONDENT) Department by : Sh. Umesh Chand Dubey, Sr. DR Assessee by : None ORDER ORDER ORDER ORDER PER H.S. SIDHU : JM PER H.S. SIDHU : JM PER PER H.…

DDIT (E) I(1), Mumbai vs. M.L. Charitable Trust, Mumbai

The appeal of the Revenue is dismissed

ITA 3653/MUM/2013[2009-10]Status: DisposedITAT Mumbai02 Nov 2016AY 2009-10

Bench: Shri Joginder Singh & Shri N.K. Pradhan

Section 11

…आयकर अपीऱीय अधिकरण, म ुंबई न्यायपीठ, फी, म ुंबई । IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES “B”, MUMBAI श्री जोगगन्दय स िंह, न्मायमक दस्म एवुं श्री एन. के. प्रधान, रेखा दस्म, के भक्ष Before Shri Joginder Singh, Judicial Member, and Shri N.K. Pradhan, Accountant Member ITA NOs.3652 & 3653/Mum/2013 Assessment Years: 2008-09 & 2009-10 DDIT(E)I(1), M.L. Charitable Trust, R. No.504, बनाम/ 228, Pragati Industrial Piramal Chambers, Estate, N.M. Joshi Marg, Vs. 5th Floor, Parel, Lower Parel, Mumbai-400012 Mumbai-400013 (याजस्व /Revenue) (यनधाारयती /Assessee) P.A. No.AAACJM2638B ITA NOs.3893/Mum/2013 Assessment…

DDIT (E) I(1), Mumbai vs. M.L. Charitable Trust, Mumbai

The appeal of the Revenue is dismissed

ITA 3652/MUM/2013[2008-09]Status: DisposedITAT Mumbai02 Nov 2016AY 2008-09

Bench: Shri Joginder Singh & Shri N.K. Pradhan

Section 11

…आयकर अपीऱीय अधिकरण, म ुंबई न्यायपीठ, फी, म ुंबई । IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES “B”, MUMBAI श्री जोगगन्दय स िंह, न्मायमक दस्म एवुं श्री एन. के. प्रधान, रेखा दस्म, के भक्ष Before Shri Joginder Singh, Judicial Member, and Shri N.K. Pradhan, Accountant Member ITA NOs.3652 & 3653/Mum/2013 Assessment Years: 2008-09 & 2009-10 DDIT(E)I(1), M.L. Charitable Trust, R. No.504, बनाम/ 228, Pragati Industrial Piramal Chambers, Estate, N.M. Joshi Marg, Vs. 5th Floor, Parel, Lower Parel, Mumbai-400012 Mumbai-400013 (याजस्व /Revenue) (यनधाारयती /Assessee) P.A. No.AAACJM2638B ITA NOs.3893/Mum/2013 Assessment…

M.L. Charitable Trust, Mumbai vs. DDIT (E) I(1), Mumbai

The appeal of the Revenue is dismissed

ITA 3893/MUM/2013[2008-09]Status: DisposedITAT Mumbai27 Oct 2016AY 2008-09

Bench: Shri Joginder Singh & Shri N.K. Pradhan

Section 11

…आयकर अपीऱीय अधिकरण, म ुंबई न्यायपीठ, फी, म ुंबई । IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCHES “B”, MUMBAI श्री जोगगन्दय स िंह, न्मायमक दस्म एवुं श्री एन. के. प्रधान, रेखा दस्म, के भक्ष Before Shri Joginder Singh, Judicial Member, and Shri N.K. Pradhan, Accountant Member ITA NOs.3652 & 3653/Mum/2013 Assessment Years: 2008-09 & 2009-10 DDIT(E)I(1), M.L. Charitable Trust, R. No.504, बनाम/ 228, Pragati Industrial Piramal Chambers, Estate, N.M. Joshi Marg, Vs. 5th Floor, Parel, Lower Parel, Mumbai-400012 Mumbai-400013 (याजस्व /Revenue) (यनधाारयती /Assessee) P.A. No.AAACJM2638B ITA NOs.3893/Mum/2013 Assessment…

ITO (Exemptions), New Delhi vs. Pearey Lal Bhawan Association, New Delhi

In the result, the appeal of the Revenue is dismissed

ITA 2548/DEL/2015[2011-12]Status: DisposedITAT Delhi18 Oct 2016AY 2011-12

Bench: Shri H.S. Sidhuassessment Year: 2011-12

For Appellant: SH. R.M. MEHTA, CAFor Respondent: SH. AMRIT LAL, SR. DR
Section 11Section 142(1)Section 143(1)Section 143(2)Section 143(3)Section 2(15)Section 70

…brought forward loss or deficit and carry forward of loss/ deficit is to be allowed and the several case laws are as under:- i) CIT vs. Maharana of Mewar Charitable Foundation, 164 ITR 439 (Raj) 1987. ii) CIT vs. Shri Plot Swetamaber Murti Pujak Jain Mandai, 211 ITR 293 (Guj) 1995. (iii) CIT vs. Matrisewa Trust, 242 ITR 20 (Mad) 2000 (iv) Govindu Naicker Estate vs. ADIT, 248 ITR 110 (Bom) 2003. (v) CIT vs. Institute of Banking, 264 ITR 110 (Bom) 2003 . (vi) DIT vs. Raghuvanshi Charitable Trust, 197 Taxmann 170 (Delhi) 2011 vii) CIT vs. Gujarat Samaj, 349 ITR 559 (MP) 2012 4.3 After considering all the facts and…

ITO, Mangalore vs. Dr. U. Krishna Muniyal Memorial Trust, Manipal

In the result, the CO by the assessee is dismissed

ITA 140/BANG/2015[2011-12]Status: DisposedITAT Bangalore27 Jul 2016AY 2011-12

Bench: Shri Vijay Pal Rao & Shri Inturi Rama Raoassessment Year : 2011-12

For Appellant: Shri V.K. Gurunathan, AdvocateFor Respondent: Shri Sunil Kumar Agarwal, Jt. CIT(DR)
Section 11Section 11(1)Section 11(1)(a)Section 12A

…t the income of a later year will amount to application of income of such later year. The above is the position of law as held in the case of CIT Vs. Maharana of Mewar Charitable Foundation 164 ITR 439 (Raj) CIT Vs. Shri Plot Swetamber Murti Pujak Jain Mandal 211 ITR 293 (Guj.). In CIT Vs. Institute of Banking Personnel Selection 264 ITR 110 (Bom), it was held that in case of charitable trust whose income is exempt under 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 and that depreciation…

DDIT (E) I(1), Mumbai vs. Maharashtra Samaj Ghatkopar, Mumbai

In the result, appeal filed by the Revenue is dismissed

ITA 3654/MUM/2013[2008-09]Status: DisposedITAT Mumbai22 Jun 2016AY 2008-09

Bench: Shri R.C.Sharma & Shri Pawan Singhassessment Year: 2008-09 Ddit (E)- 1(1), Maharashtra Samaj Ghatkoper, R.No. 504, Piramal Chambers, Plot No. 17, Tilak Road, 5Th Floor, Parel, Ghatkoper (East), Vs. Mumbai- 400012. Mumbai-400077. Pan: Aaatm4324P (Appellant) (Respondent)

For Appellant: Dr. K. Shivaram(Sr. Counsel)For Respondent: Smt. Vinita Menon (DR)
Section 11(1)(a)Section 11(1)(d)

…ar is correct in view of the decision of Hon’ble Rajasthan High Court in the case of CIT v/s Maharashtra of Mewar Charitable Foundation (1987) 60 CTR (Raj) 40 : (1987) 164 ITR 439 (Raj) which was followed in CIT vs. Shri Plot Swetamber Murti Pujak Jain Mandal 211 ITR 293 (Guj.). Therefore, this ground of appeal is allowed.” 4. We have gone through the decision of Hon’ble jurisdictional High Court in CIT vs. Institute of Banking Personnel Selection (IBPS), wherein on identical ground, the Hon’ble Bombay High Court held as under: “5. Now coming to question No.3, the point which arises for consideration is: whether…