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“Section 4(3)”

Section References (mined)Section 4Section 4(3)53 judgments

The decision most relied on for Section 4(3) is Pr. CIT v. Abhisar Buildwell (P.) Ltd. (149 Taxmann.com 399), cited in 2,379 judgments on BharatTax.

Leading authorities on Section 4(3)

Pr. CIT v. Abhisar Buildwell (P.) Ltd.
149 Taxmann.com 399 · 2023 · Supreme Court
2,379
citing judgments

An assessment under section 153A is without jurisdiction if there is an absence of incriminating material for an unabated assessment year.

Andaman Timber Industries v. CCE
281 CTR 241 · 2015 · Supreme Court
1,335
citing judgments

An assessee must be given an opportunity to cross-examine third parties whose statements are relied upon for adverse findings. Failure to provide this opportunity is a serious flaw rendering the order a nullity.

Totgars Co-operative Sale Society Ltd. v. ITO
322 ITR 283 · 2010 · Supreme Court
1,283
citing judgments

The interest income earned by a cooperative society from investing its surplus funds in fixed deposits with banks is not "derived from" its eligible business activities and is taxable as "income from other sources" under Section 56, thus not qualifying for deduction under Section 80P.

Pr. CIT v. Meeta Gutgutia
395 ITR 526 · 2017 · High Court
1,226
citing judgments

In search assessments under Section 153A, additions to income are permissible only if incriminating material is found during the search; in the absence of such material, completed assessments cannot be disturbed. A statement recorded under Section 132(4) and later retracted may not, on its own, constitute sufficient incriminating evidence for making additions.

Pr. CIT v. Totagars
395 ITR 611 · 2017 · High Court
1,074
citing judgments

Interest income earned by a cooperative society from surplus deposits or investments held with a cooperative bank is not eligible for deduction under Section 80P(2)(d) of the Act.

Mavilayi Service Co-operative Bank Ltd. v. CIT
431 ITR 1 · 2021 · Supreme Court
999
citing judgments

Section 80P(4) serves as a proviso to Section 80P(1) and (2), excluding only cooperative banks that are cooperative societies and possess an RBI license for banking business. Its purpose is to exclude cooperative banks operating like commercial banks that lend money to the public.

CIT v. SSA’s Emerald Meadows
73 Taxmann.com 248 · 2016 · Supreme Court
953
citing judgments

A notice issued under Section 274 read with Section 271(1)(c) is invalid if it fails to specify whether penalty proceedings are for concealment of particulars of income or furnishing inaccurate particulars of income. Such lack of specificity vitiates the penalty proceedings.

State Bank Of India v. CIT
389 ITR 578 · 2016 · High Court
817
citing judgments

Income arising from a cooperative society's surplus funds invested in short-term deposits and securities is not attributable to the society's core activities and, therefore, is not eligible for exemption under Section 80P(2)(a)(i) of the Income-tax Act.

Judgments citing Section 4(3)

Dakshina Kannada Nirmithi Kendra, Mangaluru vs. Assistant Commissioner of Income Tax, (Exemptions), Circle-1, Mangaluru

In the result, all appeals filed by the assessees in all the assessees’ appeals are dismissed except for assessment year

ITA 2089/BANG/2018[2013-14]Status: DisposedITAT Bangalore16 Jun 2022AY 2013-14

Bench: Shri Chandra Poojari & Shri George George K.Assessment Year: 2013-14

For Appellant: Shri Tata Krishna, A.RFor Respondent: Smt. Priyadarshini Basaganni, D.R
Section 11Section 143(2)Section 2Section 2(15)

utility; 4.21 Thus between 1984 to 2009, the definition of charitable purpose in Section 2(15) was identical to the concluding words of Section 4(3) of the 1922 Act. 4.22 The amended section 2 (15) as applicable for the impugned AY 2013-14 reads as under: (15) "charitable purpose

Dakshina Kannada Nirmithi Kendra, Mangaluru vs. Income Tax Officer, Ward 1(1), Mangaluru

In the result, all appeals filed by the assessees in all the assessees’ appeals are dismissed except for assessment year

ITA 2088/BANG/2018[2012-13]Status: DisposedITAT Bangalore16 Jun 2022AY 2012-13

Bench: Shri Chandra Poojari & Shri George George K.Assessment Year: 2013-14

For Appellant: Shri Tata Krishna, A.RFor Respondent: Smt. Priyadarshini Basaganni, D.R
Section 11Section 143(2)Section 2Section 2(15)

utility; 4.21 Thus between 1984 to 2009, the definition of charitable purpose in Section 2(15) was identical to the concluding words of Section 4(3) of the 1922 Act. 4.22 The amended section 2 (15) as applicable for the impugned AY 2013-14 reads as under: (15) "charitable purpose

Dakshina Kannada Nirmithi Kendra, Mangaluru vs. Income Tax Officer, Ward 1(1), Mangaluru

In the result, all appeals filed by the assessees in all the assessees’ appeals are dismissed except for assessment year

ITA 2087/BANG/2018[2011-12]Status: DisposedITAT Bangalore16 Jun 2022AY 2011-12

Bench: Shri Chandra Poojari & Shri George George K.Assessment Year: 2013-14

For Appellant: Shri Tata Krishna, A.RFor Respondent: Smt. Priyadarshini Basaganni, D.R
Section 11Section 143(2)Section 2Section 2(15)

utility; 4.21 Thus between 1984 to 2009, the definition of charitable purpose in Section 2(15) was identical to the concluding words of Section 4(3) of the 1922 Act. 4.22 The amended section 2 (15) as applicable for the impugned AY 2013-14 reads as under: (15) "charitable purpose

Dakshina Kannada Nirmithi Kendra, Mangaluru vs. Income Tax Officer, Ward 1(1), Mangaluru

In the result, all appeals filed by the assessees in all the assessees’ appeals are dismissed except for assessment year

ITA 2086/BANG/2018[2010-11]Status: DisposedITAT Bangalore16 Jun 2022AY 2010-11

Bench: Shri Chandra Poojari & Shri George George K.Assessment Year: 2013-14

For Appellant: Shri Tata Krishna, A.RFor Respondent: Smt. Priyadarshini Basaganni, D.R
Section 11Section 143(2)Section 2Section 2(15)

utility; 4.21 Thus between 1984 to 2009, the definition of charitable purpose in Section 2(15) was identical to the concluding words of Section 4(3) of the 1922 Act. 4.22 The amended section 2 (15) as applicable for the impugned AY 2013-14 reads as under: (15) "charitable purpose

M/S. Udupi Nirmithi Kendra, Udupi vs. Assistant Commissioner of Income Tax, (Exemptions) Circle-1, Mangalore

In the result, all appeals filed by the assessees in all the assessees’ appeals are dismissed except for assessment year

ITA 1962/BANG/2018[2013-14]Status: DisposedITAT Bangalore16 Jun 2022AY 2013-14

Bench: Shri Chandra Poojari & Shri George George K.Assessment Year: 2013-14

For Appellant: Shri Tata Krishna, A.RFor Respondent: Smt. Priyadarshini Basaganni, D.R
Section 11Section 143(2)Section 2Section 2(15)

utility; 4.21 Thus between 1984 to 2009, the definition of charitable purpose in Section 2(15) was identical to the concluding words of Section 4(3) of the 1922 Act. 4.22 The amended section 2 (15) as applicable for the impugned AY 2013-14 reads as under: (15) "charitable purpose

All India Liquid Bulk Impoerters & Exporters Asssociation, Mumbai vs. ADIT(E)-II(2), Mumbai

In the result, the appeal filed by the assessee is allowed

ITA 1604/MUM/2020[2011-12]Status: DisposedITAT Mumbai03 Feb 2022AY 2011-12

Bench: Shri Om Prakash Kant & Shri Pavan Kumar Gadaleall India Liquid Bulk Vs. Adit(E)-Ii(2) Importers & Exporters Piramal Chambers, Association Lalbaug, Parel, 501- Mulratna, Mumbai – 400012. 334- Katha Bazar, Masjid, Mumbai – 400009. "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aagca5018F Appellant .. Respondent Appellant By : Mr.Paresh Shaparia.C.A. Ar Respondent By : Mr.Kailash Mangal.Sr.Dr Date Of Hearing 08.02.2022 Date Of Pronouncement 14.02.2022 आदेश / O R D E R Per Pavan Kumar Gadale Jm: The Assessee Has Filed The Appeal Against The Order Of The Cit(A)-3, Mumbai Passed U/S 143(3) & 250 Of The Income Tax Act, 1961.The Assessee Has Raised The Fallowing Grounds Of Appeal: I. Confirmation Of Treatment Of The Non-Profit Organisation As A Mutual Concern & Denying Exemption U/S 11: 1. The Learned C1.T(A) Erred In Confirming Treatment Of The All Inida Liquid Bulk Importers & Exporters Association, Mumbai. Appellant As A Mutual Association Created Exclusively For The Benefit Of Its Members. 2. The Learned Cit(A) Failed To Appreciate The Fact That The Basic Conditions Of The Concept Of Mutuality Are Not Satisfied, Hence The Same Is Not Applicable To The Appellant.

For Appellant: Mr.Paresh Shaparia.C.A. ARFor Respondent: Mr.Kailash Mangal.Sr.DR
Section 11Section 12ASection 143(2)Section 143(3)Section 25

activities at a loss. The definition of the term "charitable purpose" was practically the same as was contained in the last para of section 4(3) of the 1922 Act except for the addition of the words "not involving the carrying on of any activity for profit

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

ITA - 180 / 2001HC Delhi23 Mar 2016
Section 139Section 13A

145/2001 & 180/2001 Page 43 of 71 Wallace & Co. AIR 1932 PC 138, in the context of the Income Tax Act, 1922, held that Section 4(3)(v) of that Act was only clarificatory and “must be due to the over anxiety of the draftsman to make this clear beyond possibility

Yoshio Kubo vs. Commissioner of Income Tax

The appeals are disposed of accordingly

ITA - 441 / 2003HC Delhi31 Jul 2013

441/2003 and connected cases Page 23 the tax statutes all along. In the Indian Income-tax Act, 1922, the exemption was provided by Section 4(3)(xiva) inserted with effect from April 1, 1955, and it was continued in the 1961 Act in Sections 10(6)(vi), (vii), (viia

The Commissioner of Income Tax vs. Delhi Press Patra Prakashan Lt

ITA - 480 / 2005HC Delhi31 May 2013
For Appellant: Mr N.P. SahniFor Respondent: Mr O.P. Dua, Sr. Adv. with Ms Babita
Section 143(1)Section 260ASection 80

entitlement for exemption 2013:DHC:2957-DB ITR Nos. 49-50/1996, ITA Nos. 151/2002, 302/2002 & 480/2005 Page 40 of 45 under Section 4(3)(i) of the Income Tax Act, 1922 had not been granted for the assessment year 1939-40. The assessee had challenged the assessment order which

CIT vs. Delhi Press Patra Prakashan Ltd

ITA - 302 / 2002HC Delhi31 May 2013
For Appellant: Mr N.P. SahniFor Respondent: Mr O.P. Dua, Sr. Adv. with Ms Babita
Section 143(1)Section 260ASection 80

entitlement for exemption 2013:DHC:2956-DB ITR Nos. 49-50/1996, ITA Nos. 151/2002, 302/2002 & 480/2005 Page 40 of 45 under Section 4(3)(i) of the Income Tax Act, 1922 had not been granted for the assessment year 1939-40. The assessee had challenged the assessment order which

CIT vs. Mehta Charitable Prajnalaya Trust

Inasmuch as all that is required is for the settler of the trust to declare that the

ITA - 1051 / 2011HC Delhi20 Nov 2012
Section 1Section 260A

Lahore High Court in Gadodia Swadeshi Stores v. Commissioner of Income Tax, Punjab, (1944) 12 ITR 385. The • general provision under Section 4(3)(1) of the 1922 Act exempted income derived from property held under trust from taxation. However, section 4(3)(ia) provided that any income derived from ... conditions laid down therein are not satisfied, it is not open to the assessee to fall back upon the general provision contained in Section 4(3)(1) and claim exemption thereunder on the ground that business is property. The Lahore High Court held that the fact that the business carried

CIT vs. Mehta Charitable Prajnalaya Trust

Inasmuch as all that is required is for the settler of the trust to declare that the

ITA - 1050 / 2011HC Delhi20 Nov 2012
Section 1Section 260A

Lahore High Court in Gadodia Swadeshi Stores v. Commissioner of Income Tax, Punjab, (1944) 12 ITR 385. The • general provision under Section 4(3)(1) of the 1922 Act exempted income derived from property held under trust from taxation. However, section 4(3)(ia) provided that any income derived from ... conditions laid down therein are not satisfied, it is not open to the assessee to fall back upon the general provision contained in Section 4(3)(1) and claim exemption thereunder on the ground that business is property. The Lahore High Court held that the fact that the business carried

Commissioner of Income Tax vs. Mehta Charitable Prajnalay Trust

Inasmuch as all that is required is for the settler of the trust to declare that the

ITA - 18 / 2004HC Delhi20 Nov 2012
Section 1Section 260A

Lahore High Court in Gadodia Swadeshi Stores v. Commissioner of Income Tax, Punjab, (1944) 12 ITR 385. The • general provision under Section 4(3)(1) of the 1922 Act exempted income derived from property held under trust from taxation. However, section 4(3)(ia) provided that any income derived from ... conditions laid down therein are not satisfied, it is not open to the assessee to fall back upon the general provision contained in Section 4(3)(1) and claim exemption thereunder on the ground that business is property. The Lahore High Court held that the fact that the business carried