“Section 2(24)(iia)”

Section References (mined)Section 2Section 2(24)(iia)48 judgments

The decision most relied on for Section 2(24)(iia) is CIT v. Yokogawa India Ltd. (341 ITR 385), cited in 270 judgments on BharatTax.

Leading authorities on Section 2(24)(iia)

CIT v. Yokogawa India Ltd.

341 ITR 385 · 2012 · High Court

270

citing judgments

A provision for doubtful debts cannot be added back while computing book profits under Section 115JB of the Income-tax Act for Minimum Alternate Tax (MAT) purposes.

DCIT v. Gloster Jute Mills Limited

88 Taxmann.com 738 · 2017 · ITAT

citing judgments

Additional depreciation under Section 32(1)(iia) can be claimed in the year an asset is acquired and installed, even if it is claimed in a subsequent year of acquisition and installation.

Everest Industries Ltd. v. JCIT

90 Taxmann.com 330 · 2018 · ITAT

citing judgments

Additional depreciation under section 32(1)(iia) is allowable every year, distinguishing previous decisions that limited it to the initial assessment year.

CIT v. HDFC Bank

104 Taxmann.com 97 · 2019 · High Court

citing judgments

Disallowance under Section 14A is not warranted merely because an assessee has sufficient interest-free funds to make investments that yield exempt income. No disallowance is called for if no expenditure is found to have been incurred for earning exempt income.

Sasisri Extractions Ltd. v. ACIT

122 ITD 428 · 2010 · ITAT

citing judgments

Where a capital investment subsidy is provided to accelerate industrial development, it is not to be reduced from the cost of assets for the purpose of calculating depreciation. Explanation 10 to Section 43(1) does not apply in such cases if the scheme's object is to accelerate industrial development.

CIT v. Trustees of Kasturbai Scindia Commission Trust

189 ITR 5 · 1991 · High Court

citing judgments

Voluntary contributions specifically received towards the corpus of a trust cannot be brought to tax as income. Funds created for specific objectives remain capital funds and are not to be pooled with normal income.

Shri Shankar Bhagwan Estate v. ITO

61 ITD 196 · 1997 · ITAT

citing judgments

Corpus donations received by a trust are not taxable income, and the corpus itself is not includible in the trust's income. This principle is supported by the interpretation of Section 2(24)(iia) in conjunction with Section 12 of the Income Tax Act.

Arthur Anderson & Co. v. ACIT

324 ITR 240 · 2010 · High Court

citing judgments

Allowing deduction of interest paid by the assessee as business expenditure u/s.37(1) of the Act is not permissible when netting off interest received against interest paid.

Judgments citing Section 2(24)(iia)

National Institute of Bank Management, Mumbai vs. DCIT (Exemption)-2(1), Mumbai

In the result, the appeal filed by the assessee for AY 2015-16 is partly allowed for statistical purposes and both the appeal filed by the assessee for AY

ITA 755/MUM/2023[2015-16]Status: DisposedITAT Mumbai05 Jul 2023AY 2015-16

Bench: Shri Vikas Awasthy & Shri Gagan Goyal

For Respondent: Shri S. Ananthan & Ms. Lalitha

Section 10Section 11Section 11(2)Section 12ASection 250Section 80G

received by the appellant was a capital receipt or tied up grants for specific purpose and thus, cannot be regarded as income under Section 2(24)(iia) of the Act. For all these and other grounds, which may be urged at the time of hearing, the appellant prays that

National Institute of Bank Management, Mumbai vs. ACIT, Exemption, Circle-2, Mumbai

In the result, the appeal filed by the assessee for AY 2015-16 is partly allowed for statistical purposes and both the appeal filed by the assessee for AY

ITA 754/MUM/2023[2016-17]Status: DisposedITAT Mumbai05 Jul 2023AY 2016-17

Bench: Shri Vikas Awasthy & Shri Gagan Goyal

For Respondent: Shri S. Ananthan & Ms. Lalitha

Section 10Section 11Section 11(2)Section 12ASection 250Section 80G

Kakatiya Sangham, Tanuku vs. Incpme Tax Officer, Ward-1, Tanuku

In the result, appeal filed by the assessee is allowed

ITA 19/VIZ/2023[2012-13]Status: DisposedITAT Visakhapatnam15 Jun 2023AY 2012-13

Bench: Shri Duvvuru Rl Reddy, Hon’Bleआयकर अपील सं./I.T.A.No.19/Viz/2023 (ननधधारण वर्ा / Assessment Year : 2012-13) Kakatiya Sangham Vs. Income Tax Officer D.No.4-348 Ward-1 Bypass Road (Chivatam) Tanuku Tanuku, West Godavari Dist. [Pan : Aaatk7209H] अपीलधथी की ओर से/ Appellant By : Shri G.V.N.Hari, Ar प्रत्यधथी की ओर से / Respondent By : Shri O.N.Hari Prasada Rao, Dr सुनवधई की तधरीख / Date Of Hearing : 19.04.2023 घोर्णध की तधरीख/Date Of Pronouncement : 15.06.2023 आदेश /O R D E R Per Shri Duvvuru Rl Reddy: Condonation Of Delay : This Appeal Is Filed By The Assessee Against The Order Of Commissioner Of Income Tax (Appeals) [Cit(A)], National Faceless Appeal Centre (Nfac), Delhi In Din & Order No.Itba/Nfac/S/250/2022-23/1043166326(1) Dated 25.05.2022 For The Assessment Year (A.Y.) 2012-13, Arising Out Of The Order Passed U/S 143(3) Of The Income Tax Act, 1961 (In Short ‘Act’) Dated 23.09.2014 With The Delay Of 183 Days. The Assessee Filed Petition For Condonation Of Delay, Submitting That The Order Of The Ld.Cit(A), Nfac, Delhi Was Passed

For Appellant: Shri G.V.N.Hari, ARFor Respondent: Shri O.N.Hari Prasada Rao, DR

Section 12ASection 143(3)Section 2(15)

आयकरअपीलीयअधिकरण, धिशाखापटणम “एसएमसी”पीठ, धिशाखापटणम IN THE INCOME TAX APPELLATE TRIBUNAL, VISAKHAPATNAM “SMC” BENCH, VISAKHAPATNAM श्री दुव्वूरु आर एल रेड्डी

Balaji Temple Trust, Srikakulam vs. Income Tax Officer, Visakhapatnam

In the result, appeal filed by the assessee is allowed

ITA 204/VIZ/2022[2013-14]Status: DisposedITAT Visakhapatnam23 May 2023AY 2013-14

Bench: Shri Duvvuru Rl Reddy, Hon’Bleआयकर अपील सं./I.T.A.No.204/Viz/2022 (ननधधारण वर्ा / Assessment Year : 2013-14) Sri Balaji Temple Trust Vs. Income Tax Officer Rajam, Srikakulam Exemption Ward [Pan : Aamts4258G] Visakhapatnam (अपीलार्थी/ Appellant) (प्रत्यर्थी/ Respondent) अपीलधथी की ओर से/ Appellant By : Shri G.V.N.Hari,Ar प्रत्यधथी की ओर से / Respondent By : Shri O.N.Hari Prasada Rao, Dr सुनवधई की तधरीख / Date Of Hearing : 07.03.2023 घोर्णध की तधरीख/Date Of Pronouncement 23.05.2023 : आदेश /O R D E R Per Shri Duvvuru Rl Reddy: This Appeal Is Filed By The Assessee Against The Order Of Commissioner Of Income Tax (Appeals) [Cit(A)], National Faceless Appeal Centre [Nfac], Delhi Vide Din & Order No.Itba/Nfac/S/250/2022-23/1044994193(1) Dated 29.08.2022, Arising Out Of The Assessment Order Passed By The Assessing Officer (Ao) U//S 154 Of The Income Tax Act, 1961 (In Short “Act”) For The Assessment Year (A.Y.) 2013-14. 2. Brief Facts Of The Case Are That The Assessee Is A Public Religious Trust, Which Was Granted Registration U/S 12A On 10.07.2014. The 2

For Appellant: Shri G.V.N.Hari,ARFor Respondent: Shri O.N.Hari Prasada Rao, DR

Section 11Section 12ASection 143(1)Section 154Section 2(24)(iia)

आयकरअपीलीयअधिकरण, धिशाखापटणम एस एम सी पीठ, धिशाखापटणम IN THE INCOME TAX APPELLATE TRIBUNAL, VISAKHAPATNAM “SMC” BENCH, VISAKHAPATNAM श्री दुव्वूरु आर

Bhag Kaur and Harnam Singh Zoria, Dasuya vs. Commissioner of Income Tax ( Exemptions), Chandigarh

In the result, the appeal of the assessee bearing ITA No

ITA 16/ASR/2021[2020-21]Status: DisposedITAT Amritsar01 Mar 2023AY 2020-21

Bench: Dr. M. L. Meena & Sh. Anikesh Banerjee

Section 10Section 11Section 11(1)(d)Section 12A

assume the nature of 'Capital receipt' the moment the donations are given to the "Corpus of the Trust". We find the provisions of section 2(24)(iia)/12(1)/11(1)(d)/35/56(2) are relevant for deciding the current issue. It is a settled legal proposition, in case ... registered Trust under the Income-Tax Act, the corpus specific Voluntary Contributions are outside the scope of income as defined in section 2(24)(iia) of the Act due to their "Capital nature". But it is a case of un-registered Trust. Despite the detailed deliberations made

Akshay Educational & Social Welfare Charitable Trust, Bodhgaya vs. DCIT, Circle-3, Gaya

In the result, the appeal of the assessee is hereby dismissed

ITA 3/PAT/2017[2011-12]Status: DisposedITAT Patna11 Jan 2023AY 2011-12

Bench: Shri Sanjay Garg & Shri Rajesh Kumari.T.A. No.03/Pat/2017 Assessment Year: 2011-12 Akshay Educational & Social Welfare Charitable Trust............……….……Appellant Amawa (Thakar), Bodhgaya-824234. [Pan:Aacta5613R] Vs. Dcit, Circle-3, Gaya….....………............…............……........……...…..…..Respondent Appearances By: Shri A.K. Rastogi, Sr. Adv. & Shri Rakesh Kumar, Advocate, Appeared On Behalf Of The Appellant. Smt. Rinku Singh, Cit-Dr, Appeared On Behalf Of The Respondent. Date Of Concluding The Hearing : November 21, 2022 Date Of Pronouncing The Order : January 11, 2023 आदेश / Order संजय गग", "या"यक सद"य "वारा / Per Sanjay Garg: The Present Appeal Has Been Preferred By The Assessee Against The Order Dated 26.08.2016 Of The Commissioner Of Income Tax (Appeals)-1, Patna [Hereinafter Referred To As ‘Cit(A)’] Passed U/S 250 Of The Income Tax Act (Hereinafter Referred To As The ‘Act’). The Assessee In This Appeal Has Taken The Following Grounds Of Appeal:

Section 11Section 12ASection 250

Court has held that corpus fund is in the nature of capital receipt and therefore the same cannot be brought to tax under section 2(24)(iia) of the Act even in absence of registration under the Income Tax Act. The relevant para from the said judgment is reproduced hereunder ... with regard to the fact that the assessee is not enjoying any registration with the Income Tax Department during the impugned Assessment Years. Section 2(24)(iia), Section 11(1)(d) and Section 12A of the Act, have a direct bearing on the controversy. Therefore, it is necessary to take

Parab Maratha Samaj, Mumbai vs. National Faceless Assessment Centre, Delhi

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

ITA 1821/MUM/2022[2019-20]Status: DisposedITAT Mumbai30 Nov 2022AY 2019-20

Bench: Shri Amit Shukla, Jm आयकरअपीलसं./ I.T.A. No. 1821/Mum/2022 (निर्धारणवर्ा / Assessment Year: 2019-20) Parab Maratha Samaj, Nfac, Delhi बिधम/ 10, 5Th Floor Mahohar Bldg, Priti Kanha, Chitable Path, Vs. Dadar(W), Mumbai-400 028 स्थायीलेखासं./जीआइआरसं./ Pan No. Aaatp4197P (अपीलाथी/Appellant) (प्रत्यथी / Respondent) : अपीलाथीकीओरसे/ Appellant By : Shri Dinesh Shah, Ld. Ar प्रत्यथीकीओरसे/Respondent By : Ms. Neeta Jeph, Ld. Dr सुनवाईकीतारीख/ : 01.09.2022 Date Of Hearing घोषणाकीतारीख / : 30.11.2022 Date Of Pronouncement आदेश / O R D E R Per Amit Shukla: The Aforesaid Appeal Has Been Filed By The Assessee Against The Impugned Order Dated 09.05.2022, Passed By National Faceless Appeal Centre (Nfac), Delhi For The Quantum Of Assessment Passed U/S 143(3) For Ay 2019-20. The Assessee Has Raised The Following Grounds Of Appeal:-

For Appellant: Shri Dinesh Shah, Ld. ARFor Respondent: Ms. Neeta Jeph, Ld. DR

Section 11Section 12ASection 143(3)

chargeable to tax at AOP Rates:- a) Income derived from property held under trust b) Income referred to in Section 2(24)(iia) of the IT Act 1961 (Voluntary contribution) c) Income referred to in Section 11 (4A). (Profits and gains of business if it is incidental to the attainment

Indian National Cong. (I) Aicc vs. C.I.T.- XI

ITA - 180 / 2001HC Delhi23 Mar 2016

Section 139Section 13A

other terms and expressions used in the provisions of the Act require to be noticed. The expression ‘voluntary contributions’ has been defined under Section 2(24)(iia) of the Act as under: “voluntary contributions received by a trust created wholly or partly for charitable or religious purposes ... cannot be said to be ‘income from other sources’. 65. Mr Aggarwal referred to the memorandum accompanying the Finance Bill, 1972 which inserted Section 2(24)(iia) of the Act. Reference was also made to Instruction No. 1988 dated 19th October 2000 issued by the CBDT which clarified that income