DIT v. Bombay Billion Association Dharma NO Kanto Trust

DY COMMISSIONER OF INCOME TAX, (E)1(1), MUMBAI, MUMBAI vs. KARUNA MEDICAL SOCIETY, MUMBAI

In the result, appeals of the Revenue are dismissed

…ein by placing reliance on the decision of the Hon’ble Supreme Court in the case of CIT vs. Thanthi Trust reported in 247 ITR 785; decision of Hon’ble Jurisdictional High court in the case of DIT vs Bombay Billion Association Dharma NO Kanto Trust reported in 254 ITR 708; decision of Hon’ble Calcutta High Court in the case of Aditanar Educational Institution vs. Addl. CIT reported in 224 ITR 310 and the decision of the Hon’ble Jurisdictional High Court in the case of Baun Foundation Trust vs. CCIT reported in 251 CTR (Bom) 237. We find that the Hon’ble Jurisdictional High Court decision referred to supra in the c…

DY COMMISSIONER OF INCOME TAX(E)-1(1), MUMBAI, MUMBAI vs. M/S KARUNA MEDICAL SOCIETY, MUMBAI

In the result, appeals of the Revenue are dismissed

…ein by placing reliance on the decision of the Hon’ble Supreme Court in the case of CIT vs. Thanthi Trust reported in 247 ITR 785; decision of Hon’ble Jurisdictional High court in the case of DIT vs Bombay Billion Association Dharma NO Kanto Trust reported in 254 ITR 708; decision of Hon’ble Calcutta High Court in the case of Aditanar Educational Institution vs. Addl. CIT reported in 224 ITR 310 and the decision of the Hon’ble Jurisdictional High Court in the case of Baun Foundation Trust vs. CCIT reported in 251 CTR (Bom) 237. We find that the Hon’ble Jurisdictional High Court decision referred to supra in the c…

DY COMMISSIONER OF INCOME TAX (E)-1(1), MUMBAI, MUMBAI vs. M/S KARUNA MEDICAL SOCIETY , MUMBAI

In the result, appeals of the Revenue are dismissed

…ein by placing reliance on the decision of the Hon’ble Supreme Court in the case of CIT vs. Thanthi Trust reported in 247 ITR 785; decision of Hon’ble Jurisdictional High court in the case of DIT vs Bombay Billion Association Dharma NO Kanto Trust reported in 254 ITR 708; decision of Hon’ble Calcutta High Court in the case of Aditanar Educational Institution vs. Addl. CIT reported in 224 ITR 310 and the decision of the Hon’ble Jurisdictional High Court in the case of Baun Foundation Trust vs. CCIT reported in 251 CTR (Bom) 237. We find that the Hon’ble Jurisdictional High Court decision referred to supra in the c…

DCIT (E) 1(1), MUMBAI vs. KARUNA MEDICA SOCIETY, MUMBAI

In the result, the appeal of Revenue is dismissed

Bench: Sri Mahavir Singh, Jm & Sri Jason P Boaz, Am Asst. Cit(A) (Exemption), M/S Karuna Medical Society, 1(1) Room No.506, 5 Th Floor, Jeevan Bima Nagar, Borivali(W) Vs. Parimal Chamber, Lilbaug, Mumbai-400103 Mumbai-400012 Pan No.Aaatk0426A Appellant .. Respondent Revenue By .. Shri. B.S Bist, Dr Assessee By .. Ms. Aarti Vissanji, Ar Date Of Hearing .. 09-01-2017 Date Of Pronouncement .. 09-01-2017 O R D E R Per Mahavir Singh, Jm:

…u/s 11(1) of the Act. In respect of the income from Kury business, which itself was held in trust by the assessee. This decision was set-aside by Hon’ble Apex Court in (2001) 248 ITR 816 (SC). In DIT vs Bombay Billion Association Dharma NO Kanto Trust (2002) 254 ITR 708 (Bom.), wherein, the general public. was beneficiary, therefore, the Hon’ble jurisdictional High Court held that since there was substantial compliance of section 11(4A)(b), therefore, the trust was entitled to exemption. Identical ratio was laid down in DIT (E) vs Shilpam (1998) 230 ITR 126 (Cal.). As a result of substitution by the Finance No.(…

ASST CIT (E) 1(1), MUMBAI vs. KARNUNA MEDICAL SOCIETY, MUMBAI

In the result, appeal filed by the revenue for the Asst

Bench: Shri G.S.Pannu (Am) & Shri. Ram Lal Negi (Jm) Assessment Year: 2012-13

…u/s 11(1) of the Act. In respect of the income from Kury business, which itself was held in trust by the assessee. This decision was set-aside by Hon’ble Apex Court in (2001) 248 ITR 816 (SC). In DIT vs Bombay Billion Association Dharma NO Kanto Trust (2002) 254 ITR 708 (Bom.), wherein, the general public was beneficiary, therefore, the Hon’ble jurisdictional High Court held that since there was substantial compliance of section 11(4A)(b), therefore, the trust was entitled to exemption. Identical ratio was laid down in DIT (E) vs Shilpam (1998) 230 ITR 126 (Cal.). As a result of substitution by the Finance No.(2…