Institute of Chartered Accountants of India (ICAI) v. DGIT (Exemptions)

The Fine Arts Society, Mumbai vs. ITO (E) 2(4), Mumbai

In the result, both the appeals of the assessee are party allowed

Bench: Sri Mahavir Singh, Jm & Sri G Manjunatha, Am Aayakr Apila Sam./ Ita No. 2171/Mum/2016 (Inaqa-Arna Baya- / Assessment Year 2011-12)

…the judgments of Hon’ble Delhi High Court in India Trade Promotion Organization vs. Director General of Income Tax (Exemptions), judgment delivered on 22.01.2015 and Institute of Chartered Accountants of India vs. Director General of Income Tax (Exemptions) (358 ITR 91) (Del.). 9. On the other hand, the learned Sr. Departmental Representative, took us through the Assessment Order and the order of CIT(A). He argued that the claim of assessee that it is engaged in educational activity is not proved by any evidence like no details having in conference/ international conference on music were held. The learned Sr. D…

The Fine Arts Society, Mumbai vs. Dy Director of Income Tax (Exemptions) - 1(2), Mumbai

In the result, both the appeals of the assessee are party allowed

Bench: Sri Mahavir Singh, Jm & Sri G Manjunatha, Am Aayakr Apila Sam./ Ita No. 2171/Mum/2016 (Inaqa-Arna Baya- / Assessment Year 2011-12)

…the judgments of Hon’ble Delhi High Court in India Trade Promotion Organization vs. Director General of Income Tax (Exemptions), judgment delivered on 22.01.2015 and Institute of Chartered Accountants of India vs. Director General of Income Tax (Exemptions) (358 ITR 91) (Del.). 9. On the other hand, the learned Sr. Departmental Representative, took us through the Assessment Order and the order of CIT(A). He argued that the claim of assessee that it is engaged in educational activity is not proved by any evidence like no details having in conference/ international conference on music were held. The learned Sr. D…

The Bombay Presidency Golf Club Ltd, Mumbai vs. ITO (E) 2(4), Mumbai

In the result, appeal of the Revenue is dismissed and the appeal of the assessee is allowed for statistical purpose

Bench: Shri C.N. Prasad & Shri Rajesh Kumarassessment Year: 2012-13

…in holding that act of deposit of money in scheduled bank account and receipt of interest thereon an activity in the nature of trade, commerce or business. The same view was taken by the Delhi High Court in Institute of Chartered Accountants of India Vs. DCIT 358 ITR 91 (Del), where the Institute was taxed by the Assessing Officer on the grounds that fees were charged by the Institute for providing coaching classes and for holding interviews with respect to campus placement. The Court held that such activities cannot be stated to be rendering service in relation to any trade, commerce or business at all. This was…

Prabodhan Goregaon, Mumbai vs. CIT (A) - 1, Mumbai

In the result appeal of the assessee is allowed for statistical purposes

Bench: Shri C.N Prasad & Shri Ramit Kocharआयकर अपीऱ सं./I.T.A. No.6490/Mum/2016 (नििाारण वर्ा / Assessment Year : 2011-12) Prabhodhan Goregaon बिाम/ Ito(E)-Ii(1),Mumbai Prabhodhan Kridabhavan Marg, V. Siddharth Nagar, Goregoan(W), Mumbai-400014 स्थायी ऱेखा सं./ Pan : Aaatp4398J (अपीऱाथी /Appellant) (प्रत्यथी / Respondent) ..

…आयकर अपीऱीय अधिकरण “C” न्यायपीठ म ुंबई में। IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH, MUMBAI BEFORE SHRI C.N PRASAD, JUDICIAL MEMBER AND SHRI RAMIT KOCHAR, ACCOUNTANT MEMBER आयकर अपीऱ सं./I.T.A. No.6490/Mum/2016 (नििाारण वर्ा / Assessment Year : 2011-12) Prabhodhan Goregaon बिाम/ ITO(E)-II(1),Mumbai Prabhodhan Kridabhavan Marg, v. Siddharth Nagar, Goregoan(W), Mumbai-400014 स्थायी ऱेखा सं./ PAN : AAATP4398J (अपीऱाथी /Appellant) (प्रत्यथी / Respondent) .. Assessee by: Shri N.M. Porwal Revenue by : Shri Rajat Mittal (DR) सुनवाई की तारीख /Date of Hearing : 01.05.2018 घोषणा की तारीख /Date of Pronouncement…

The Pransukhlal Mafatlal Hindu Swimming Bath & Boat Club Trust, Mumbai vs. ITO (E) II(1), Mumbai

In the result, appeal filed by the assessee is allowed

Bench: Shri Mahavir Singh () & Shri G Manjunatha ()

…1 Pransukhlal Mafatlal Hindu Swimming Bath & Boat Club Trust IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “C”, MUMBAI Before Shri Mahavir Singh (JUDICIAL MEMBER) AND Shri G Manjunatha (ACCOUNTANT MEMBER) I.T.A No.1039 & 1040/Mum/2016 (Assessment years: 2010-11 & 2011-12) & The Pransukhlal Mafatlal vs ITO (Eemp.).II(1), MumbaI Hindu Swimming Bath & Boat Club Trust, Netaji Subhash Road, Chowpatty, Mumbai-7 PAN : AAATT9571H Appellant by Shri Percy Pardiwala / Nishant Thakkar / Ms. Jasmin Amalsadvala Revenue by Shri Rajat Mittal Date of hearing 12-03-2018 Date of pronouncement 21-03-2018 O R D E R Per G Ma…

Shanmukhananda Fine Arts & Sangeetha Sabha, Mumbai vs. DDIT (E) I(2)

Bench: S/Sh.Rajendra & Amarjit Singhआयकर अपील सं./I.T.A./1975/Mum/2016,िनधा"रण िनधा"रण वष" वष" /Assessment Year: 2011-12 िनधा"रण िनधा"रण वष" वष" आयकर अपील सं./I.T.A./6858/Mum/2016,िनधा"रण िनधा"रण िनधा"रण वष" िनधा"रण वष" वष" /Assessment Year: 2011-12 वष" Sri Shanmukhananda Fine Arts & Ddit (Exemption)-I-(2) Sangeetha Sabha Piramal Chambers, 5Th Floor 292,Comrade Harbanslal Marg, Vs. Mumbai-400 012. Sion (East)Mumbai-400 022. Pan:Aaats 2694 E (अपीलाथ" /Appellant) (""यथ" / Respondent) राज"व क" ओर से / Revenue By: Shri V. Rajguru-Cit-Dr अपीलाथ" क" ओर से /Assessee By: Shri Vijay Mehta/Govind Javeri सुनवाई क" तारीख / Date Of Hearing: 14/12/2018 घोषणा क" तारीख / Date Of Pronouncement: 02.03.2018 लेखा लेखा सद"य लेखा लेखा सद"य सद"य, राजे"" सद"य राजे"" राजे"" केकेकेके अनुसार राजे"" अनुसार अनुसार /Per Rajendra, Am- अनुसार Challenging The Orders Dated 20/01/2016 Of The Cit(A)-1, Mumbai The Assessee Has Filed The Above Mentioned Two Appeals For The Same A.Y.The First Appeal Is Against The Regular Appellate Order,Whereas The Second Appeal Is About The Rectification Application Filed Under Section 154 Of The Act. We Are Adjudicating Both The Appeals Together. Assessee-A Registered Trust,Filed Its Return Of Income On 27/09/2011,Along With The Income & Expenditure Account & Other Financial Statements Declaring Deficit Of Rs. 27.17 Crores. The Assessing Officer (Ao)Completed The Assessment On,10/03/2014,U/S. 143(3)Of The Act, Determining Its Income At Rs.4.51 Crores.

…and the charitable activities are by product,as alleged by the departmental authorities.What has to seen in such cases is a holistic view of the things and not a narrower view.We would like to refer to the matter of Institute of Chartered Accountants of India(358 ITR 91),wherein the Hon’ble Delhi High Court has held as under: “A plain reading of section 2(15) of the Income-tax Act, 1961, indicates that the expression “charitable purpose” has been divided into six categories, namely, (i) relief to poor, (ii) education, (iii) medical relief, (iv) preservation of environment including watersheds (forest and wildlife…

Dahisar Sports Foudation, Mumbai vs. ITO (E) (I), Mumbai

In the result, this appeal filed by the assessee stands allowed

Bench: Shri Shamim Yahyaआयकर अपील सं./I.T.A. No. 7046/Mum/2016 ("नधा"रण वष" / Assessment Year: 2011-12) Dahisar Sports Foundation Ito (Exemptions)-(1), Dahisar Sports Foundation Ground, Piramal Chambers, Lalbaug, बनाम/ Opp. Viday Mandir School, Parel, Mumbai-400 012 Vs. C. S. Road, Dahisar (E), Mumbai-400 068 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. Aaatd 3769 P (अपीलाथ" /Appellant) (""यथ" / Respondent) : अपीलाथ" क" ओर से / Appellant By : Shri Vipul Joshi ""यथ" क" ओर से/Respondent By : Ms. Hemalatha सुनवाई क" तार"ख / : 31.08.2017 Date Of Hearing घोषणा क" तार"ख / : 09.11.2017 Date Of Pronouncement आदेश / O R D E R Per Shamim Yahya, A. M.: This Appeal By The Assessee Is Directed Against The Order By The Commissioner Of Income Tax (Appeals)-1, Mumbai (‘Cit(A)’ For Short) Dated 08.09.2016 & Pertains To The Assessment Year (A.Y.) 2011-12. 2. The Grounds Of Appeal Read As Under: 1.1 The Learned Commissioner Of Income - Tax (Appeals) - 1, Mumbai, ["Ld. C1T (A)"] Erred In Confirming The Action Of The A.O. In Denying The 2 Dahisar Sports Foundation Vs. Ito (E) Benefit Of Exemption U/S. 11 Of The Income - Tax Act, 1961 ["The Act"] To The Appellant. 1.2 The Ld. Cit (A) Erred In Confirming The Action Of The A.O. In Holding That The Case Of The Appellant Was Covered By The Proviso To Section 2 (15) Of The Act. 1.3 It Is Submitted That In The Facts & The Circumstances Of The Case & In Law, No Denial Of Exemption Was Called For. 2 Without Prejudice To The Above, In The Alternative, Assuming - But Not Admitting - That Some Addition Was Called For, The Computation Of The Same Is Not In Accordance With The Law, Is Arbitrary & Excessive.

…nt case. Here also the authorities below have drawn adverse inference on the 7 Dahisar Sports Foundation vs. ITO (E) ground that amount received from the coaching camp being less than the expenditure incurred. Similarly, in the case of ICAI vs. DGIT(E) [2013] 358 ITR 91 (Del), the Hon’ble Delhi High Court has expounded as under: (a) There was no finding that the predominant object in doing their activities was to generate profits. (b) These activities were ancillary activities to the main activity/ object. (c) The surplus generated out of these activities is utilised towards the infrastructure development and ot…

Prabodhan Goregaon, Mumbai vs. CIT (A) - 1, Mumbai

In the result, the appeal is allowed for statistical purposes

Bench: Shri Mahavir Singh () & Shri N.K. Pradhan () Assessment Year: 2010-11 Prabhodhangoregaon Ito(E)-Ii(1) Prabhodhan Mumbai. Vs. Kridabhavan Marg, Siddharth Nagar, Goregaon (W), Mumbai-400014. Pan No. Aaatp4398J Appellant Respondent Assessee By : Shri N.M. Porwal, Ar Revenue By: Shri Rajat Mittal, Dr Date Of Hearing : 29/05/2017 Date Of Pronouncement : 24/08/2017

…IN THE INCOME TAX APPELLATE TRIBUNAL MUMBAI BENCH “C” MUMBAI BEFORE SHRI MAHAVIR SINGH (JUDICIAL MEMBER) AND SHRI N.K. PRADHAN (ACCOUNTANT MEMBER) Assessment Year: 2010-11 PrabhodhanGoregaon ITO(E)-II(1) Prabhodhan Mumbai. Vs. Kridabhavan Marg, Siddharth Nagar, Goregaon (W), Mumbai-400014. PAN No. AAATP4398J Appellant Respondent Assessee by : Shri N.M. Porwal, AR Revenue by: Shri Rajat Mittal, DR Date of Hearing : 29/05/2017 Date of pronouncement : 24/08/2017 ORDER PER N.K. PRADHAN, A.M. This is an appeal filed by the assessee. The relevant assessment year is 2010-11. The appeal is directed against the order o…

Credit Gurantee Fund Trust, Mumbai vs. ITO (E) 1(1), Mumbai

In the result, the appeal of the assessee is allowed, as above

Bench: Shri G.S.Pannu & Shri Amit Shuklacredit Guarantee Fund Trust For Micro & Small Enterprises, 7Th Floor, Sme Development Centre, G-Block, Bandra Kurla Complex, Bandra(E), Mumbai 400 051 Pan:Aaatc 2613D ...... Appellant Vs. The Income Tax Officer (Exemptions), Pirmal Chambers, Parel, Mumbai 400 012 .... Respondent

…ter the insertion of the proviso to section 2(15) of the Act by Finance Act, 2008 with effect from 01/04/2009:- (i) PHD Chamber of Commerce and Industry vs. DIT(E), 357 ITR 296. (ii)Institute of Chartered Accountants of India and Another v. DGI(E) And Other, 358 ITR 91(Del) 15 (iii) GSI India v. DGIT(E), 360 ITR 138(Del) (iv) India Trade Promotion Organization vs. DGIT(E) & Others, 371 ITR 333 (Del) 5.6 We have carefully considered the rival submissions. Before we proceed to address the controversy relating to invoking of the proviso to section 2(15) of the Act, we may briefly recapitulate the fact-situation…

DDIT (E) 1(1), Mumbai vs. Matunga Gymkhana, Mumbai

In the result, while of appeals of the Revenue are dismissed, that of assessee is allowed, as above

Bench: Shri G.S.Pannu & Shri Amarjit Singh

…in holding that act of deposit of money in scheduled bank account and receipt of interest thereon an activity in the nature of trade, commerce or business. The same view was taken by the Delhi High Court in Institute of Chartered Accountants of India Vs. DCIT 358 ITR 91 (Del), where the Institute was taxed by the Assessing Officer on the grounds that fees were charged by the Institute for providing coaching classes and for holding interviews with respect to campus placement. The Court held that such activities cannot be stated to be rendering service in relation to any trade, commerce or business at all. This was…

Matunga Gymkhana, Mumbai vs. ADIT (E) -I-(1), Mumbai

In the result, while of appeals of the Revenue are dismissed, that of assessee is allowed, as above

Bench: Shri G.S.Pannu & Shri Amarjit Singh

…in holding that act of deposit of money in scheduled bank account and receipt of interest thereon an activity in the nature of trade, commerce or business. The same view was taken by the Delhi High Court in Institute of Chartered Accountants of India Vs. DCIT 358 ITR 91 (Del), where the Institute was taxed by the Assessing Officer on the grounds that fees were charged by the Institute for providing coaching classes and for holding interviews with respect to campus placement. The Court held that such activities cannot be stated to be rendering service in relation to any trade, commerce or business at all. This was…

DDIT (E)-1(1), Mumbai vs. Matunga Gymkhana, Mumbai

In the result, while of appeals of the Revenue are dismissed, that of assessee is allowed, as above

Bench: Shri G.S.Pannu & Shri Amarjit Singh

…in holding that act of deposit of money in scheduled bank account and receipt of interest thereon an activity in the nature of trade, commerce or business. The same view was taken by the Delhi High Court in Institute of Chartered Accountants of India Vs. DCIT 358 ITR 91 (Del), where the Institute was taxed by the Assessing Officer on the grounds that fees were charged by the Institute for providing coaching classes and for holding interviews with respect to campus placement. The Court held that such activities cannot be stated to be rendering service in relation to any trade, commerce or business at all. This was…

The Bombay Presidency Golf Club Ltd, Mumbai vs. ITO (E) 1(1), Mumbai

In the result, appeal of the assessee is allowed

…in holding that act of deposit of money in scheduled bank account and receipt of interest thereon an activity in the nature of trade, commerce or business. The same view was taken by the Delhi High Court in Institute of Chartered Accountants of India Vs. DCIT 358 ITR 91 (Del), where the Institute was taxed by the Assessing Officer on the grounds that fees were charged by the Institute for providing coaching classes and for holding interviews with respect to campus placement. The Court held that such activities cannot be stated to be rendering service in relation to any trade, commerce or business at all. This was…