N.V. Shanmugam & Co. v. CIT

57 ITR 321Supreme Court of India1965#11755 most cited
9

judgments rely on this decision, according to BharatTax’s citation analysis of 292,668 Indian tax judgments — from 2015 to 2025.

Sections most often in play

Section 10(2)Section 115BBESection 132Section 142(1)Section 143(2)Section 161Section 166Section 250

Judgments citing N.V. Shanmugam & Co. v. CIT

SATYAM SUREKA ,KOLKATA vs. DCIT, CENTRAL CIR-3(3), KOLKATA

In the result, all the appeals of the different assessees are partly allowed

ITA 152/KOL/2025[2015-16]Status: DisposedITAT Kolkata02 Jul 2025AY 2015-16

Bench: Shri Rajesh Kumar&Shri Pradip Kumar Choubey] I.T.(S.S).A. No. 13 /Kol/2025 Assessment Years: 2013-14 Satyam Sureka Vs. Dcit, Central Circle-3(3), Kolkata

Section 115BSection 132Section 142(1)Section 143(2)Section 250Section 56(2)Section 68

…that circumstance, amount so received by the appellant cannot be assessed u/s 56(2). c) Amount transferred to the appellant beneficiary was already taxed in the hands of trustees and so, there cannot be double taxation (CIT vs. Managing Trustee, Nagore Daraha 57 ITR 321) d) As per Section 161 of the Act, Trust can be assessed in its own name and section 166 provides for assessment of income in the hands of beneficiary (Saran Nayak vs. DCIT [2022] 45 taxmann.com 117 (Karnataka) e) Amount received in pursuance of dissolution of the trust cannot be termed to be an amount received by the beneficiary without considera…

ACIT 25 (2), MUMBAI vs. SMT. ANJANA LAXMIDAS VORA, MUMBAI

The appeal of the AO is dismissed

ITA 7944/MUM/2019[2016-17]Status: DisposedITAT Mumbai17 Oct 2022AY 2016-17

Bench: Shri Prashant Maharishi, Am & Shri Rahul Chaudhary, Jm The Assistant Commissioner Of Income Tax – 25 (2) Room Number 220, Second Srimati Anjana Laxmidas Floor, Vora Kautilya Bhavan 1202 – C, Elita, N Dutta Vs. Marg, Behind D N Nagar Bandra Kurla Complex Police Station, Mumbai – 53 Bandra (E) Mumbai – 51 (Appellant) (Respondent) Pan No. Aaipv0293L Co 70/Mumbai/2021 (Assessment Years 2016 – 17) The Assistant Commissioner Of Income Srimati Anjana Laxmidas Tax – 25 (2) Vora Room Number 220, Second 1202 – C, Elita, N Dutta Floor, Vs. Marg, Behind D N Nagar Kautilya Bhavan Police Station, Mumbai – 53 Bandra Kurla Complex Bandra (E) Mumbai – 51 (Appellant) (Respondent)

For Appellant: Shri Rajan Vora, CAFor Respondent: Shri Sunil Jha CIT DR
Section 143Section 68

…thus is a capital receipt not chargeable to tax at all. The AO‟s legal argument is altogether different and in no manner helping her to build her argument. In the apex court decision of the Honourable Supreme Court in CIT versus managing trustees Nagore Durga 57 ITR 321 (SC) and CIT versus Kamalini Khatau 209 ITR 101 (SC), the ratio was held that what can be taxed as income and that too income earned during the relevant previous year. The nature of receipt in the hands of beneficiary takes the same colour as that of the trust. Thus, in a case where what is distributed by the trust is the income earned by the trus…

ACIT, BANGALORE vs. M/S ICICI EMERGING SECTOR FUND,, BANGALORE

In the result, all the thirteen appeals of the revenue are dismissed

ITA 505/BANG/2013[2009-10]Status: DisposedITAT Bangalore27 Jul 2016AY 2009-10

Bench: Shri Sunil Kumar Yadav & Shri A.K.Garodia, Accounant Member

For Appellant: Shri S.E.Dastur, Senior AdvocateFor Respondent: Mrs. Neera Malhotra, CIT &
Section 199

…hey were not averse to pocked, were earned on behalf of an association of persons. Reliance is placed on the decision of the Supreme Court in the cases of N.V. Shanmugham and Co. v. CIT [1971] 81 ITR 310 (SC) and CIT v. Managing Trustees, Nagore Durgha [1965] 57 ITR 321 (SC)." 10. The Assessing Officer, for the above reasons, brought to tax the entire income in the hands of the assessee at the maximum marginal rate. 11. In the assessment year 2009-10 in the case of the assessee in I.T.A. No. 475/Bang/13, the Assessing Officer followed his reasoning as given in the order of assessment in the assessment year 2008-0…

MRS. SHARON NAYAK,BANGALORE vs. DCIT, BANGALORE

In the result, appeal of the assessee is partly allowed for statistical purpose

ITA 1594/BANG/2014[2008-09]Status: DisposedITAT Bangalore27 May 2016AY 2008-09

Bench: Shri. Sunil Kumar Yadav & Shri. Abraham P. Georgei.T.A No.1594/Bang/2014 (Assessment Year : 2008-09) Mrs. Sharon Nayak, 203, Inland Exotic Apt, 14, Benson Road, Bangalore 560 046 .. Appellant Pan : Abkpn7007P V. Deputy Commissioner Of Income-Tax, Circle – 5(1), Bangalore .. Respondent Assessee By : Shri. S. Ramasubramaniyan, Ca Revenue By : Dr. P. K. Srihari, Addl. Cit Heard On : 05.05.2016 Pronounced On : 27.05.2016 O R D E R Per Abraham P. George:

For Appellant: Shri. S. Ramasubramaniyan, CAFor Respondent: Dr. P. K. Srihari, Addl. CIT
Section 161Section 17(3)Section 56Section 56(2)(i)Section 56(2)(vi)

…ist v. CIT (A) [50 ITR 693]- Bom HC Argument of the assessee was that the trust and beneficiaries were not two different entities and for this reliance was placed on the judgment of Hon’ble Supreme Court in the case of CIT v. Managing Trustee, Nagore Dargha [57 ITR 321]. Assessee also relied on circular No.549, dt.31.10.1999, which inter alia stated that when notice u/s.143(2) of the Act was not served with the time specified in the said section, an assessee could consider the return filed by it as final. In other words, contention of the assessee was that no notice having been served on the trusts before the ex…

ACIT vs. ICICI EMERGING SECTOR FUND,

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

ITA 475/BANG/2013[2009-10]Status: DisposedITAT Bangalore13 Feb 2015AY 2009-10

Bench: Shri N.V. Vasudevan & Shri Abraham P. Georgeassessment Year : 2008-09

For Respondent: Shri Farahat Hussain Qureshi, CIT-II(DR)
Section 61Section 63

…h those owners lay claim and which they were not averse to pocked, were earned on behalf of an AOP. Reliance is placed on the decision of the Supreme Court in the case of N.V. Shanmugam & Co. Vs. CIT 81 ITR 310 (SC) and CIT Vs. Managing Trustees Nagore Durgah 57 ITR 321 (SC).” 9. The AO, for the above reasons, brought to tax the entire income in the hands of the Assessee at the Maximum Marginal Rate. ITA Nos.347 & 348/B/11 177 & 179/B/12, & 475/B/13 Page 9 of 33 10. In AY 09-10 in the case of Assessee in ITA No.475/Bang/13, the AO followed his reasoning as given in the order of Assessment in AY 08-09 in the ca…

ITO, BANGALORE vs. M/S INDIA ADVANTAGE FUND I, BANGALORE

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

ITA 179/BANG/2012[2008-09]Status: DisposedITAT Bangalore13 Feb 2015AY 2008-09

Bench: Shri N.V. Vasudevan & Shri Abraham P. Georgeassessment Year : 2008-09

For Respondent: Shri Farahat Hussain Qureshi, CIT-II(DR)
Section 61Section 63

…h those owners lay claim and which they were not averse to pocked, were earned on behalf of an AOP. Reliance is placed on the decision of the Supreme Court in the case of N.V. Shanmugam & Co. Vs. CIT 81 ITR 310 (SC) and CIT Vs. Managing Trustees Nagore Durgah 57 ITR 321 (SC).” 9. The AO, for the above reasons, brought to tax the entire income in the hands of the Assessee at the Maximum Marginal Rate. ITA Nos.347 & 348/B/11 177 & 179/B/12, & 475/B/13 Page 9 of 33 10. In AY 09-10 in the case of Assessee in ITA No.475/Bang/13, the AO followed his reasoning as given in the order of Assessment in AY 08-09 in the ca…

DCIT, BANGALORE vs. M/S ICICI EMERGING SECTOR FUND, BANGALORE

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

ITA 177/BANG/2012[2008-09]Status: DisposedITAT Bangalore13 Feb 2015AY 2008-09

Bench: Shri N.V. Vasudevan & Shri Abraham P. Georgeassessment Year : 2008-09

For Respondent: Shri Farahat Hussain Qureshi, CIT-II(DR)
Section 61Section 63

…h those owners lay claim and which they were not averse to pocked, were earned on behalf of an AOP. Reliance is placed on the decision of the Supreme Court in the case of N.V. Shanmugam & Co. Vs. CIT 81 ITR 310 (SC) and CIT Vs. Managing Trustees Nagore Durgah 57 ITR 321 (SC).” 9. The AO, for the above reasons, brought to tax the entire income in the hands of the Assessee at the Maximum Marginal Rate. ITA Nos.347 & 348/B/11 177 & 179/B/12, & 475/B/13 Page 9 of 33 10. In AY 09-10 in the case of Assessee in ITA No.475/Bang/13, the AO followed his reasoning as given in the order of Assessment in AY 08-09 in the ca…

DCIT, BANGALORE vs. M/S ICICI EMERGING SECTORS FUND, BANGALORE

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

ITA 348/BANG/2011[2008-09]Status: DisposedITAT Bangalore13 Feb 2015AY 2008-09

Bench: Shri N.V. Vasudevan & Shri Abraham P. Georgeassessment Year : 2008-09

For Respondent: Shri Farahat Hussain Qureshi, CIT-II(DR)
Section 61Section 63

…h those owners lay claim and which they were not averse to pocked, were earned on behalf of an AOP. Reliance is placed on the decision of the Supreme Court in the case of N.V. Shanmugam & Co. Vs. CIT 81 ITR 310 (SC) and CIT Vs. Managing Trustees Nagore Durgah 57 ITR 321 (SC).” 9. The AO, for the above reasons, brought to tax the entire income in the hands of the Assessee at the Maximum Marginal Rate. ITA Nos.347 & 348/B/11 177 & 179/B/12, & 475/B/13 Page 9 of 33 10. In AY 09-10 in the case of Assessee in ITA No.475/Bang/13, the AO followed his reasoning as given in the order of Assessment in AY 08-09 in the ca…

DCIT, BANGALORE vs. M/S ICICI EMERGING SECTORS FUND, BANGALORE

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

ITA 347/BANG/2011[200809]Status: DisposedITAT Bangalore13 Feb 2015

Bench: Shri N.V. Vasudevan & Shri Abraham P. Georgeassessment Year : 2008-09

For Respondent: Shri Farahat Hussain Qureshi, CIT-II(DR)
Section 61Section 63

…h those owners lay claim and which they were not averse to pocked, were earned on behalf of an AOP. Reliance is placed on the decision of the Supreme Court in the case of N.V. Shanmugam & Co. Vs. CIT 81 ITR 310 (SC) and CIT Vs. Managing Trustees Nagore Durgah 57 ITR 321 (SC).” 9. The AO, for the above reasons, brought to tax the entire income in the hands of the Assessee at the Maximum Marginal Rate. ITA Nos.347 & 348/B/11 177 & 179/B/12, & 475/B/13 Page 9 of 33 10. In AY 09-10 in the case of Assessee in ITA No.475/Bang/13, the AO followed his reasoning as given in the order of Assessment in AY 08-09 in the ca…

N.V. Shanmugam & Co. v. CIT (57 ITR 321) — Cited in 9 Judgments | BharatTax