Gopal Srinivasan Trust v. Addnl. CIT

46 ITD 157Income Tax Appellate Tribunal#17946 most cited
5

judgments rely on this decision, according to BharatTax’s citation analysis of 366,339 Indian tax judgments — from 2015 to 2022.

Judgments citing Gopal Srinivasan Trust v. Addnl. CIT

ACIT 17(1), Mumbai vs. Mahindra & Mahindra Employees Stock Option Trust, Mumbai

In the result, both the appeals of the Revenue are dismissed

ITA 1120/MUM/2022[2016-17]Status: DisposedITAT Mumbai04 Aug 2022AY 2016-17
Section 112Section 143(3)Section 250

…er than that of section 112 and it deals with special cases, whereas the provision of section 112 deal with certain other special cases. Reliance was placed by the AO on the judgments of Madras Bench of ITAT in the case of Gopal Srinivasan Trust vs Addnl. CIT 46 ITD 157. According to the AO, reading of provisions of section 164(1) along with provisions of section 160 of the Act and their specific reference to "income" and not "total income" makes it very clear that entire income of such trust has to be taxed at maximum marginal rate and not at a concessional rate. 7.1. It was further held by the AO, without preju…

ACIT-17(1), Mumbai vs. Mahindra & Mahindra Employees Stock Option Trust., Mumbai

In the result, both the appeals of the Revenue are dismissed

ITA 1119/MUM/2022[2013-14]Status: DisposedITAT Mumbai04 Aug 2022AY 2013-14
Section 112Section 143(3)Section 250

…er than that of section 112 and it deals with special cases, whereas the provision of section 112 deal with certain other special cases. Reliance was placed by the AO on the judgments of Madras Bench of ITAT in the case of Gopal Srinivasan Trust vs Addnl. CIT 46 ITD 157. According to the AO, reading of provisions of section 164(1) along with provisions of section 160 of the Act and their specific reference to "income" and not "total income" makes it very clear that entire income of such trust has to be taxed at maximum marginal rate and not at a concessional rate. 7.1. It was further held by the AO, without preju…

Shriram Ownership Trust, Chennai vs. DCIT, Chennai

In the result, the appeals of the assessee for both

ITA 407/CHNY/2017[2014-15]Status: DisposedITAT Chennai05 May 2017AY 2014-15

Bench: Shri N.R.S. Ganesan & Shri Abraham P. George] आयकर अपील सं./I.T.A. Nos. 406 & 407/Mds/2017 "नधा"रण वष" /Assessment Years : 2013-2014 & 2014-2015. Shriram Ownership Trust, Vs. The Deputy Commissioner Of No.4, Shriram House, I Floor, Income Tax, Burkit Road, T. Nagar, Non Corporate Circle 2, Chennai 600 017. Chennai 600 034. [Pan Aagts 2243H] (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Appellant: Shri. R. Sivaraman, AdvocateFor Respondent: Shri. Shaji P. Jacob, IRS, Addl. CIT
Section 144ASection 14ASection 160(1)Section 161(1)Section 2(31)Section 56Section 56(1)Section 56(2)Section 56(2)(vii)

…as per the ld. Authorised Representative, a private discretionary trust could not be equated with an individual. For this ld. Authorised Representative relied on decision of Co-ordinate Bench of this Tribunal in the case of Gopal Srinivasan Trust vs. ADIT 46 ITD 157. According to him, corpus contribution received could not be roped in as income even u/s. 2(24) (iva) of the Act, since assessee had not obtained the contribution by way of a legal right or claim but it was only a gratuitous payment received by it. Reliance was placed on the judgment of Hon’’ble Jurisdictional High Court in the case of A.R. Ad…

Shriram Ownership Trust, Chennai vs. DCIT, Chennai

In the result, the appeals of the assessee for both

ITA 406/CHNY/2017[2013-14]Status: DisposedITAT Chennai05 May 2017AY 2013-14

Bench: Shri N.R.S. Ganesan & Shri Abraham P. George] आयकर अपील सं./I.T.A. Nos. 406 & 407/Mds/2017 "नधा"रण वष" /Assessment Years : 2013-2014 & 2014-2015. Shriram Ownership Trust, Vs. The Deputy Commissioner Of No.4, Shriram House, I Floor, Income Tax, Burkit Road, T. Nagar, Non Corporate Circle 2, Chennai 600 017. Chennai 600 034. [Pan Aagts 2243H] (अपीलाथ"/Appellant) (""यथ"/Respondent)

For Appellant: Shri. R. Sivaraman, AdvocateFor Respondent: Shri. Shaji P. Jacob, IRS, Addl. CIT
Section 144ASection 14ASection 160(1)Section 161(1)Section 2(31)Section 56Section 56(1)Section 56(2)Section 56(2)(vii)

…as per the ld. Authorised Representative, a private discretionary trust could not be equated with an individual. For this ld. Authorised Representative relied on decision of Co-ordinate Bench of this Tribunal in the case of Gopal Srinivasan Trust vs. ADIT 46 ITD 157. According to him, corpus contribution received could not be roped in as income even u/s. 2(24) (iva) of the Act, since assessee had not obtained the contribution by way of a legal right or claim but it was only a gratuitous payment received by it. Reliance was placed on the judgment of Hon’’ble Jurisdictional High Court in the case of A.R. Ad…

Mahindra & Mahindra Employees Stock Option Trust, Mumbai vs. Addl CIT RG 12(2), Mumbai

In the result, ground no.4 is allowed for statistical purposes

ITA 2389/MUM/2015[2011-12]Status: DisposedITAT Mumbai21 Oct 2015AY 2011-12

Bench: Shri Joginder Singh, Jm & Shri R.C.Sharma, Am आमकय अऩीर सिं./Ita No.2389/Mum/2015 (नििाारण वषा / Assessment Year :2010-2011) Mahindra & Mahindra Adcit, Range-12(2), Employees‟ Stock Option Mumbai-20 Trust, Gateway Building, Apollo Bunder, Mumbai- 400001 स्थामी रेखा सिं./ जीआइआय सिं./ Pan/Gir No. : Aahfm 9583 B (अऩीराथी /Appellant) (प्रत्मथी / Respondent) .. यनधावरयती की ओर से /Assessee By : Shri H.P.Mahajani याजस्र् की ओर से /Revenue By : Shri N.P.Singh सुनर्ाई की तायीख / Date Of Hearing : 04/08/2015 घोषणा की तायीख/Date Of Pronouncement 21/10/2015 आदेश / O R D E R Per R.C.Sharma, Am The Present Appeal Is Filed Against The Order Of Cit(A) -28, Mumbai, Dated 26-3-2015 For A.Y.2011-12. 2. During The Course Of Hearing The Assessee Has Filed Concise Grounds Of Appeal. These Have Been Considered By Us For The Adjudication Of This Appeal & Are Reproduced Hereunder :-

For Appellant: Shri H.P.MahajaniFor Respondent: Shri N.P.Singh
Section 143(3)Section 250

…urther held that section 164 has been in force from a date much earlier than that of section 112 and it deals with special cases, whereas the provision of section 112 deal with certain other special cases. Reliance was placed by Srinivasan Trust vs Addnl. CIT 46 ITD 157. According to the AO, reading of provisions of section 164(1) along with provisions of section 160 of the Act and their specific reference to “income” and not “total income” makes it very clear that entire income of such trust has to be taxed at maximum marginal rate and not at a concessional rate. 7.1. It was further held by the AO, without prej…

Gopal Srinivasan Trust v. Addnl. CIT (46 ITD 157) — Cited in 5 Judgments | BharatTax