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“Section 2(24)(2a)”

Section References (mined)Section 2Section 2(24)(2a)9 judgments

The decision most relied on for Section 2(24)(2a) is CIT v. HDFC Bank (104 Taxmann.com 97), cited in 22 judgments on BharatTax.

Leading authorities on Section 2(24)(2a)

CIT v. HDFC Bank
104 Taxmann.com 97 · 2019 · High Court
22
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.

ITR 93) (Guj.) VIII. CIT vs Deep Chand 336 ITR 292 (P & H) IX. Sethy Industries Corporation v. DCIT
353 ITR 206 · 2013 · High Court
18
citing judgments

An assessment order directing the initiation of penalty proceedings under section 271(1)(c) is deemed to constitute the Assessing Officer's satisfaction for initiating penalty proceedings under section 271(1B). This applies even after amendments to the law.

PCIT v. Gujarat State Electricity Corporation Ltd.
144 Taxmann.com 165 · 2022 · High Court
16
citing judgments

A penalty under section 271(1)(c) cannot be levied if the assessee made a bona fide mistake of accounting and rectified it by passing necessary rectification entries in a subsequent year, as no mens rea can be inferred.

CIT v. Whitefort India Ltd.
38 Taxmann.com 15 · 2013 · High Court
14
citing judgments

When imposing a penalty under section 271(1)(c), the Assessing Officer must specify whether the penalty is for furnishing inaccurate particulars or concealment of income, not just initiate the penalty proceedings without a specific charge.

Judgments citing Section 2(24)(2a)

Jm Financial Foundation, Mumbai vs. ITO (Exemption)-Ward-1(4), Mumbai

In the result, appeal filed by assessee stands at for statistical purposes

ITA 6558/MUM/2025[2018-19]Status: DisposedITAT Mumbai29 Dec 2025AY 2018-19

Bench: Smt. Beena Pillai () & Shri Makarand Vasant Mahadeokar ()

Section 11Section 11(2)Section 147Section 148Section 151A

IN THE INCOME TAX APPELLATE TRIBUNAL “F” BENCH, MUMBAI BEFORE SMT. BEENA PILLAI (JUDICIAL MEMBER) & SHRI MAKARAND VASANT MAHADEOKAR (ACCOUNTANT

Jm Financial Foundation, Mumbai vs. ITO (Exem) Ward 1(4), Mumbai

In the result, appeal filed by assessee stands at for statistical purposes

ITA 6557/MUM/2025[2017-18]Status: DisposedITAT Mumbai29 Dec 2025AY 2017-18

Bench: Smt. Beena Pillai () & Shri Makarand Vasant Mahadeokar ()

Section 11Section 11(2)Section 147Section 148Section 151A

IN THE INCOME TAX APPELLATE TRIBUNAL “F” BENCH, MUMBAI BEFORE SMT. BEENA PILLAI (JUDICIAL MEMBER) & SHRI MAKARAND VASANT MAHADEOKAR (ACCOUNTANT

Assistant Commissioner of Income Tax, Central Circle-2(4), Hyderabad vs. Ravi Rishi Educational Society, Hyderabad

In the result, the appeal of the revenue in ITA

ITA 306/HYD/2022[2018-19]Status: DisposedITAT Hyderabad24 Feb 2025AY 2018-19

Bench: Shri Vijay Pal Rao & Shri Madhusudan Sawdia

For Appellant: Shri P. Murali Mohan Rao, C.AFor Respondent: : Shri B. Balakrishna, CIT-DR
Section 11Section 11(5)Section 12ASection 132

assessee is not eligible for any exemption u/s.11 of the Act, as per the combined reading of section 2(24)(2A) and 12A(1) of the Act, all the receipts of the assessee are liable to be considered as income of the assessee. Accordingly, there is no infirmity

Assistant Commissioner of Income Tax, Central Circle-2(4), Hyderabad vs. Ravi Rishi Educational Society, Hyderabad

In the result, the appeal of the revenue in ITA

ITA 305/HYD/2022[2017-18]Status: DisposedITAT Hyderabad24 Feb 2025AY 2017-18

Bench: Shri Vijay Pal Rao & Shri Madhusudan Sawdia

For Appellant: Shri P. Murali Mohan Rao, C.AFor Respondent: : Shri B. Balakrishna, CIT-DR
Section 11Section 11(5)Section 12ASection 132

assessee is not eligible for any exemption u/s.11 of the Act, as per the combined reading of section 2(24)(2A) and 12A(1) of the Act, all the receipts of the assessee are liable to be considered as income of the assessee. Accordingly, there is no infirmity

Assistant Commissioner of Income Tax, Central Circle-2(4), Hyderabad vs. Ravi Rishi Educational Society, Hyderabad

In the result, the appeal of the revenue in ITA

ITA 304/HYD/2022[2016-17]Status: DisposedITAT Hyderabad24 Feb 2025AY 2016-17

Bench: Shri Vijay Pal Rao & Shri Madhusudan Sawdia

For Appellant: Shri P. Murali Mohan Rao, C.AFor Respondent: : Shri B. Balakrishna, CIT-DR
Section 11Section 11(5)Section 12ASection 132

assessee is not eligible for any exemption u/s.11 of the Act, as per the combined reading of section 2(24)(2A) and 12A(1) of the Act, all the receipts of the assessee are liable to be considered as income of the assessee. Accordingly, there is no infirmity

Assistant Commissioner of Income Tax, Central Circle-2(4), Hyderabad vs. Ravi Rishi Educational Society, Hyderabad

In the result, the appeal of the revenue in ITA

ITA 303/HYD/2022[2015-16]Status: DisposedITAT Hyderabad24 Feb 2025AY 2015-16

Bench: Shri Vijay Pal Rao & Shri Madhusudan Sawdia

For Appellant: Shri P. Murali Mohan Rao, C.AFor Respondent: : Shri B. Balakrishna, CIT-DR
Section 11Section 11(5)Section 12ASection 132

assessee is not eligible for any exemption u/s.11 of the Act, as per the combined reading of section 2(24)(2A) and 12A(1) of the Act, all the receipts of the assessee are liable to be considered as income of the assessee. Accordingly, there is no infirmity

Assistant Commissioner of Income Tax, Central Circle-2(4), Hyderabad vs. Ravi Rishi Educational Society, Hyderabad

In the result, the appeal of the revenue in ITA

ITA 302/HYD/2022[2014-15]Status: DisposedITAT Hyderabad24 Feb 2025AY 2014-15

Bench: Shri Vijay Pal Rao & Shri Madhusudan Sawdia

For Appellant: Shri P. Murali Mohan Rao, C.AFor Respondent: : Shri B. Balakrishna, CIT-DR
Section 11Section 11(5)Section 12ASection 132

assessee is not eligible for any exemption u/s.11 of the Act, as per the combined reading of section 2(24)(2A) and 12A(1) of the Act, all the receipts of the assessee are liable to be considered as income of the assessee. Accordingly, there is no infirmity

Assistant Commissioner of Income Tax, Central Circle-2(4), Hyderabad vs. Ravi Rishi Educational Society, Hyderabad

In the result, the appeal of the revenue in ITA

ITA 301/HYD/2022[2013-14]Status: DisposedITAT Hyderabad24 Feb 2025AY 2013-14

Bench: Shri Vijay Pal Rao & Shri Madhusudan Sawdia

For Appellant: Shri P. Murali Mohan Rao, C.AFor Respondent: : Shri B. Balakrishna, CIT-DR
Section 11Section 11(5)Section 12ASection 132

assessee is not eligible for any exemption u/s.11 of the Act, as per the combined reading of section 2(24)(2A) and 12A(1) of the Act, all the receipts of the assessee are liable to be considered as income of the assessee. Accordingly, there is no infirmity

Assistant Commissioner of Income Tax, Central Circle-2(4), Hyderabad vs. Ravi Rishi Educational Society, Hyderabad

In the result, the appeal of the revenue in ITA

ITA 300/HYD/2022[2012-13]Status: DisposedITAT Hyderabad24 Feb 2025AY 2012-13

Bench: Shri Vijay Pal Rao & Shri Madhusudan Sawdia

For Appellant: Shri P. Murali Mohan Rao, C.AFor Respondent: : Shri B. Balakrishna, CIT-DR
Section 11Section 11(5)Section 12ASection 132

assessee is not eligible for any exemption u/s.11 of the Act, as per the combined reading of section 2(24)(2A) and 12A(1) of the Act, all the receipts of the assessee are liable to be considered as income of the assessee. Accordingly, there is no infirmity