“Section 11(5)”

SAHYADRI ADIVASI BAHUVIDH SEVA SANGH ,MUMBAI vs. ITO EXEMPTION , THANE

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

Bench: Shri Pawan Singh & Shri Girish Agrawalassessment Year: 2016-17 Sahyadri Adivasi Bahuvidh Income Tax Officer, Seva Sangh Exemption, Savarkar Road, Opp. S.T Mumbai Johns High School. Vs. Thane (West), Mumbai - 400601 (Pan: Aadts9375D) (Appellant) (Respondent) Present For: Assessee : Shri Suhas P. Bora, Ca Revenue : Shri Bhagirath Ramawat, Sr. Dr Date Of Hearing : 11.03.2026 Date Of Pronouncement : 17.03.2026 O R D E R Per Girish Agrawal: This Appeal Filed By The Assessee Is Against The Order Of Addl./Jcit (A)-2, Surat, Vide Order No. Itba/Apl/S/250/2024-25/1072463266(1), Dated 23.01.2025, Passed Against The Assessment Order By Income Tax Officer, Exemption Ward, Thane, U/S. 143(3) Of The Income-Tax Act (Hereinafter Referred To As The “Act”), Dated 25.12.2018, For Assessment Year 2016-17. 2. Grounds Taken By Assessee Are Reproduced As Under:

Commissioner of Income Tax, Pune on 19.04.2018. c. The appellant had invested the amount set aside in the forms or modes specified in section 11(5) of the Act. 3. The Ld. CIT(A) failed to appreciate that the CBDT Circular 07/2018 dated 20.12.2018 had clearly authorized the Commissioners

POWERLOOM DEVELOPMENT & EXPORT PROMOTION COUNCIL ,MUMBAI vs. ITO (EXEM), WARD 2(2), MUMBAI

In the result, both the appeals by the assessee are allowed for statistical purposes

Bench: Shri Vikram Singh Yadavshri Sandeep Singh Karhail

interest income earned by the assessee, it was submitted that the same has earned on the investments made as per the provisions of Section 11(5) of the Act. The assessee submitted that the said investments are made to provide the exemption from payment of tax, and if the interest

POWERLOOM DEVELOPMENT & EXPORT PROMOTION COUNCIL,MUMBAI vs. ITO (EXEMPTION) WARD 2(2), MUMBAI

In the result, both the appeals by the assessee are allowed for statistical purposes

Bench: Shri Vikram Singh Yadavshri Sandeep Singh Karhail

interest income earned by the assessee, it was submitted that the same has earned on the investments made as per the provisions of Section 11(5) of the Act. The assessee submitted that the said investments are made to provide the exemption from payment of tax, and if the interest

DCIT CENTRAL CIRCLE-5(4), MUMBAI vs. AWAS DEVELOPERES & CONSTRUCTION PRIVATE LIMITED, MUMBAI

In the result, appeal of the Revenue is allowed for statistical

Bench: The Itat.

scheduled bank was defined in Explanation 4 to section 43B of the Act. Therefore, one has to look at the Explanation 2 to section 11(5)(iii) to determine whether cooperative bank is included within the meaning of scheduled bank. In this regard, the Ld.DR filed very detailed written submissions

HOLY CROSS CHURCH,MUMBAI vs. INCOME TAX OFFICER EXEMPTION WARD 1(3), MUMBAI

In the result, appeal of the assessee bearing ITA No

Bench: Shri Anikesh Banerjee & Shri Prabhash Shankar

purposes other than those specified in the statement filed (Form 10), or invests or deposits it in modes other than those specified in Section 11(5). Accumulated income under section 11(2) becomes taxable in the year in which there is a failure to apply the funds within the permitted

RAMKRISHNA BAJAJ CHARITABLE TRUST,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME-TAX, CIRCLE 26(1), MUMBAI, MUMBAI

Bench: Shri Amit Shukla, Jm & Shri Arun Khodpia, Am

ground that since the appellant is assessed in the status of trust under Section 12A, having violated the provisions of section 11(5) r.w.s. 13(1)(d), is to be taxed at Maximum Marginal rate under Section 164(2) of the Act. 1.4. The learned CIT(Appeals) failed to appreciate ... with Section 35AC of the Act for donations paid/granted. 2.3. It is submitted that the considering the non-compliance with the provisions of Section 11(5) read with Section 13(1)(d) of the Act, the Appellant did not claim the benefits of Section 11&12 of the Act. Accordingly

DEPUTY COMMISSIONER OF INCOME TAX (EXEMPTION)-1(1), MUMBAI, MUMBAI vs. ALL INDIA GEM AND JEWELLERY DOMESTIC COUNCIL, MUMBAI

In the result, the appeal of the Revenue is dismissed

Bench: Shri Om Prakash Kant () & Shri Raj Kumar Chauhan () Assessment Year: 2015-16

bank deposits mandated under section earning of interest on bank deposits mandated under section earning of interest on bank deposits mandated under section 11(5) cannot be regarded as an activity 11(5) cannot be regarded as an activity in the nature of in the nature of business,  the proviso ... ement of surplus funds with banks is a statutory requirement ement of surplus funds with banks is a statutory requirement in terms of section 11(5) of the Act. This does not imply that the in terms of section 11(5) of the Act. This does not imply that