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“Section 161(1)”

Section References (mined)Section 161Section 161(1)27 judgments

SOUTH ASIAN REGIONAL APEX FUND ,MUMBAI vs. INCOME TAX OFFICER -19(3)(4), MUMBAI

ITA 670/MUM/2025[2010-11]Status: DisposedITAT Mumbai16 Jan 2026AY 2010-11
Section 143(3)Section 161Section 161(1)Section 234B

1,01,36,885 as business income in the hands of the\nAppellant.\n6. The Learned CIT(A) erred in denying section 161(1) of the Act; without\nprejudice, the Learned AO erred in contradicting by applying section 161(1A).\n7. Without prejudice, the Learned CIT(A) erred ... that the arrangement was used to claim\npass-through status and thereby avoid tax on venture capital profits. The Ld. DR\ncontended that section 161(1) applies only where trustees act purely in fiduciary\ncapacity, and in the present case beneficiaries collectively created and funded\nincome generating activities

SOUTH ASIAN REGIONAL APEX FUND ,MUMBAI vs. INCOME TAX OFFICER -23(3)(4), MUMBAI

ITA 669/MUM/2025[2012-13]Status: DisposedITAT Mumbai16 Jan 2026AY 2012-13
Section 143(3)Section 161Section 161(1)Section 234B

1,01,36,885 as business income in the hands of the\nAppellant.\n6. The Learned CIT(A) erred in denying section 161(1) of the Act; without\nprejudice, the Learned AO erred in contradicting by applying section 161(1A).\n7. Without prejudice, the Learned CIT(A) erred ... that the arrangement was used to claim\npass-through status and thereby avoid tax on venture capital profits. The Ld. DR\ncontended that section 161(1) applies only where trustees act purely in fiduciary\ncapacity, and in the present case beneficiaries collectively created and funded\nincome generating activities

GREEN MAIDEN A 2013,MUMBAI vs. THE ASSISTANT COMMISSIONER OF INCOME TAX INTERNATIONAL TAX CIRCLE 2(3)(2), MUMBAI

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

ITA 1986/MUM/2025[2019-20]Status: DisposedITAT Mumbai21 Jul 2025AY 2019-20
For Appellant: Ms. Hirali Desai/ Shri Hardik Nirmal/ MsFor Respondent: Shri Krishna Kumar, Sr.DR
Section 144C(13)Section 147Section 153Section 61Section 63

Trustee') i.e., the trustee of the GMT, the Ld. AO failed to appreciate\nthat:\na) by virtue of the provisions of inter alia section 161(1) of the Act, as a\nrepresentative assessee of ADIA, tax can be levied on the Trustee (ETJL) in\nthe like manner

SHRIKANT HERWADE FAMILY TRUST,KOLHAPUR vs. INCOME TAX OFFICER WARD 2(1), KOLHAPUR

In the result, all the appeals of the assessee are allowed for statistical purposes

ITA 1452/PUN/2025[2015-16]Status: DisposedITAT Pune09 Jul 2025AY 2015-16

Bench: Dr.Manish Borad

For Appellant: Shri Vaibhav ChauguleFor Respondent: Shri Deepak Kumar Kedia
Section 154Section 161(1)Section 250

trust is given on rental to the Branch of State Bank of India. The Trust income does not include any business income under section 161(1) of Income Tax Act. The shares of each member (beneficiaries) are definite (well-defined) Since the shares of respective beneficiary in the income

SHRIKANT HERWADE FAMILY TRUST,KOLHAPUR vs. INCOME TAX OFFICER WARD(2)(1), KOLHAPUR

In the result, all the appeals of the assessee are allowed for statistical purposes

ITA 1451/PUN/2025[2014-15]Status: DisposedITAT Pune09 Jul 2025AY 2014-15

Bench: Dr.Manish Borad

For Appellant: Shri Vaibhav ChauguleFor Respondent: Shri Deepak Kumar Kedia
Section 154Section 161(1)Section 250

trust is given on rental to the Branch of State Bank of India. The Trust income does not include any business income under section 161(1) of Income Tax Act. The shares of each member (beneficiaries) are definite (well-defined) Since the shares of respective beneficiary in the income

SHRIKANT HERWADE FAMILY TRUST,KOLHAPUR vs. INCOME TAX OFFICER, WARD(2)(1), KOLHAPUR

In the result, all the appeals of the assessee are allowed\nfor statistical purposes

ITA 1450/PUN/2025[2012-13]Status: DisposedITAT Pune09 Jul 2025AY 2012-13
Section 154Section 161(1)Section 250

trust is given on rental to the Branch of State\nBank of India. The Trust income does not include any business\nincome under section 161(1) of Income Tax Act.\nThe shares of each member (beneficiaries) are definite (well-defined)\nSince the shares of respective beneficiary in the income

SHRIKANT HERWADE FAMILY TRUST,KOLHAPUR vs. INCOME TAX OFFICER WARD(2)(1), KOLHAPUR

In the result, all the appeals of the assessee are allowed for statistical purposes

ITA 1449/PUN/2025[2011-12]Status: DisposedITAT Pune09 Jul 2025AY 2011-12

Bench: Dr.Manish Borad

For Appellant: Shri Vaibhav ChauguleFor Respondent: Shri Deepak Kumar Kedia
Section 154Section 161(1)Section 250

trust is given on rental to the Branch of State Bank of India. The Trust income does not include any business income under section 161(1) of Income Tax Act. The shares of each member (beneficiaries) are definite (well-defined) Since the shares of respective beneficiary in the income

JAMSHED R BILIMORIA,MUMBAI vs. INCOME TAX OFFICER RANGE 19(1)(5), MUMBAI

In the result, both the appeals of the assessee are allowed

ITA 6252/MUM/2024[2021-22]Status: DisposedITAT Mumbai30 Apr 2025AY 2021-22

Bench: Smt. Beena Pillai & Smt. Renu Jauhriआयकर अपील सं./Ita No. 6252/Mum/2024 (निर्धारण वर्ा / Assessment Year :2021-22) आयकर अपील सं./Ita No. 6251/Mum/2024 (निर्धारण वर्ा / Assessment Year :2022-23) Jameshed R. Bilimoria V/S. Ito-19(1)(5), Mumbai C/O Kalyaniwalla & Mistry बिधम Room No. 602, 6Th Floor, Llp, 2Nd Floor, Esplande Piramal Chambers, House, 29 Hazrimal Lalbaug, Mumbai-400012 Somani Marg, Fort, Mumbai-400001 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No: Aappb8124R Appellant/अपीलधर्थी .. Respondent/प्रनिवधदी निर्ााररती की ओर से /Assessee By: Shri Amey Wagle/ Ms. Aruna Iyer रधजस्व की ओर से /Revenue By: Ms. Kavitha Kaushik

For Appellant: Shri Amey Wagle/ Ms. Aruna IyerFor Respondent: Ms. Kavitha Kaushik
Section 143(1)Section 154Section 161(1)Section 199Section 250

IN THE INCOME-TAX APPELLATE TRIBUNAL “F” BENCH, MUMBAI BEFORE SMT. BEENA PILLAI, JUDICIAL MEMBER & SMT. RENU JAUHRI, ACCOUNTANT MEMBER

JAMSHED R BILIMORIA,MUMBAI vs. INCOME TAX OFFICER RANGE 19(1)(5), MUMBAI

In the result, both the appeals of the assessee are allowed

ITA 6251/MUM/2024[2022-23]Status: DisposedITAT Mumbai30 Apr 2025AY 2022-23

Bench: Smt. Beena Pillai & Smt. Renu Jauhriआयकर अपील सं./Ita No. 6252/Mum/2024 (निर्धारण वर्ा / Assessment Year :2021-22) आयकर अपील सं./Ita No. 6251/Mum/2024 (निर्धारण वर्ा / Assessment Year :2022-23) Jameshed R. Bilimoria V/S. Ito-19(1)(5), Mumbai C/O Kalyaniwalla & Mistry बिधम Room No. 602, 6Th Floor, Llp, 2Nd Floor, Esplande Piramal Chambers, House, 29 Hazrimal Lalbaug, Mumbai-400012 Somani Marg, Fort, Mumbai-400001 स्थायी लेखा सं./जीआइआर सं./Pan/Gir No: Aappb8124R Appellant/अपीलधर्थी .. Respondent/प्रनिवधदी निर्ााररती की ओर से /Assessee By: Shri Amey Wagle/ Ms. Aruna Iyer रधजस्व की ओर से /Revenue By: Ms. Kavitha Kaushik

For Appellant: Shri Amey Wagle/ Ms. Aruna IyerFor Respondent: Ms. Kavitha Kaushik
Section 143(1)Section 154Section 161(1)Section 199Section 250

IN THE INCOME-TAX APPELLATE TRIBUNAL “F” BENCH, MUMBAI BEFORE SMT. BEENA PILLAI, JUDICIAL MEMBER & SMT. RENU JAUHRI, ACCOUNTANT MEMBER

JAMSHED R BILIMORIA,MUMBAI vs. ITO-19(1)(5), MUMBAI

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

ITA 6066/MUM/2024[2023-24]Status: DisposedITAT Mumbai21 Feb 2025AY 2023-24

Bench: Shri Om Prakash Kant () & Shri Raj Kumar Chauhan () Assessment Year: 2023-24 Jamshed R Bilimoria, Ito Range 19(1)(5), C/O Kalyaniwalla & Mistry Llp Room No. 602, 6Th Floor Piramal Vs. 2Nd Floor, Esplanade House 29 Chambers Lalbaug, Hazarimal Somani Marg, Fort, Mumbai-400012. Mumbai-400001. Pan No. Aappb 8124 R Appellant Respondent

For Appellant: Mr. M M GolvalaFor Respondent: Ms. Kanupriya Damor, Sr. DR
Section 161(1)Section 199

said trust. According to the assessee in terms of beneficiary of the said trust. According to the assessee in terms of section 161(1) of the Act income from the assets held in the said section 161(1) of the Act income from the assets held in the said section

MANTIKA BENEFICIARY TRUST,JAIPUR vs. ITO WD 7(1), JAIPUR, JAIPUR

In the result, the appeal of the assessee is allowed in above terms

ITA 1216/JPR/2024[2022-23]Status: DisposedITAT Jaipur24 Jan 2025AY 2022-23

Bench: Dr. S. Seethalakshmi & Shri Gagan Goyalmantika Beneficiary Trust, D 122, Amba Bari, Jaipur – 302 012. Pan No.:Aaetm7086Q ...... Appellant Vs. Ito, Ward- 7(1), Jaipur ...... Respondent

For Appellant: Mr. Rohan Sogani, CA, Ld. ARFor Respondent: Mr. Gautam Singh Choudhary, JCIT, Ld
Section 143(1)Section 154Section 160Section 163Section 250Section 9

shall not, in respect of that income, be assessed under any other provision of this Act. 6). In view of the provisions of section 161(1) of the Act, Every representative assessee, as regards the income in respect of which he is a representative assessee, shall be subject ... Supreme Court: HELD The trustee even of a discretionary trust is joy reason of the terms of section 160, a representative-assessee. Section 161(1) of the Act, sets out the liability of a representative- assessee. Section 161(2) gives the representative-assessee a further measure of protection by making

SUBHASH E. DHARGAVE, MUMBAI vs. MILESTONE REAL ESTATE FUNDS, MUMBAI

In the result, the appeal of the Revenue is dismissed

ITA 59/MUM/2024[2016-17]Status: DisposedITAT Mumbai27 Sept 2024AY 2016-17
Section 10Section 10(35)

also accepted the status of appellant as a\nTrust in the assessment order.\nThe general rule as laid down in section 161(1) is that income\nreceived by a trustee on behalf of the beneficiary shall be assessed in\nthe hands of the trustee as representative assessee and such\nassessment

ACIT 23-1, MUMBAI vs. MILESTONE REAL ESTATE FUND, MUMBAI

Accordingly, Ground No. 6 raised by the Revenue is dismissed

ITA 6/MUM/2024[2017-18]Status: DisposedITAT Mumbai10 Sept 2024AY 2017-18

Bench: SHRI AMARJIT SINGH, ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY (Judicial Member)

For Appellant: Shri Madhur AgarwalFor Respondent: Smt. Smiti Samant, Shri H.M
Section 1Section 10Section 115USection 143(3)Section 147

also accepted the status of appellant as a Trust in the assessment order. The general rule as laid down in section 161(1) is that income received by a trustee on behalf of the beneficiary shall be assessed in the hands of the trustee as representative assessee and such assessment

ACIT-231, MUMBAI vs. MILESTONE REAL ESTATE FUND, MUMBAI

Accordingly, Ground No. 6 raised by the Revenue is dismissed

ITA 368/MUM/2024[2015-16]Status: DisposedITAT Mumbai10 Sept 2024AY 2015-16

Bench: SHRI AMARJIT SINGH, ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY (Judicial Member)

For Appellant: Shri Madhur AgarwalFor Respondent: Smt. Smiti Samant, Shri H.M
Section 1Section 10Section 115USection 143(3)Section 147

also accepted the status of appellant as a Trust in the assessment order. The general rule as laid down in section 161(1) is that income received by a trustee on behalf of the beneficiary shall be assessed in the hands of the trustee as representative assessee and such assessment

ACIT, PIRAMAL CHAMBERS vs. MILESTONE REAL ESTATE FUND, MUMBAI

ITA 194/MUM/2024[2018-19]Status: DisposedITAT Mumbai10 Sept 2024AY 2018-19
Section 10Section 10(35)Section 115USection 143(1)Section 143(3)Section 147Section 148

also\naccepted the status of appellant as a Trust in the\nassessment order.\nThe general rule as laid down in section 161(1) is\nthat income received by a trustee on behalf of the\nbeneficiary shall be assessed in the hands of the\ntrustee as representative assessee and such\nassessment

INCOME TAX OFFICER, KAUTILYA BHAWAN vs. PETROLEUM TRUST, MUMBAI

In the result, appeal of the revenue is dismissed

ITA 2694/MUM/2024[2021]Status: DisposedITAT Mumbai02 Aug 2024

Bench: Shri Narendra Kumar Billaiya, Hon’Ble & Shri Raj Kumar Chauhan, Hon’Ble

For Appellant: Shri Madhur Agarwal & Shri Nimesh Vora, A/RsFor Respondent: Ms. Madhu Malati Ghosh, CIT, D/R
Section 115BSection 160Section 161Section 161(1)Section 163Section 9

case and in law, the Ld. JCIT(A) was justified in holding that the income of the assessee as per the provisions of Section 161(1) of the Act is taxable in the like manner and to the same extent as it would be taxable in the hands its sole ... charged as if that income was the total income of an AOP Section 164 is an enabling section similar to section 161(1) and nothing more or less could be read therein. In the cases covered by section 161(1) an option could be exercised on the strength

JM FINANCIAL PROPERTY FUND I,MUMBAI vs. INCOME TAX OFFICER, WARD - 25(1)(1), MUMBAI, MUMBAI

In the result, the appeal of the assessee for assessment year

ITA 1691/MUM/2024[2016-17]Status: DisposedITAT Mumbai24 Jul 2024AY 2016-17

Bench: Shri Om Prakash Kant () & Shri Sandeep Singh Karhail ()

For Appellant: Mr. Madhur Aggarwal/For Respondent: Mr. Ashish Kumar, Sr. DR
Section 143(3)Section 147Section 250

binding decision of the Hon'ble Tribunal. Hon'ble Tribunal. Ground No. 7: Assessment und Ground No. 7: Assessment under the provisions of section 161(1) er the provisions of section 161(1) of the Act Without prejudice to the above, on the facts and circumstances of the Without prejudice ... have made the assessment in terms of section 10(35) of the Act, ought to have made the assessment in terms of section 161(1) of the Act. of the Act. The Appellant prays, on a without prejudice basis, that where exemption The Appellant prays, on a without prejudice basis

JM FINANCIAL PROPERTY FUND I,MUMBAI vs. INCOME TAX OFFICER, WARD - 25(1)(1), MUMBAI, MUMBAI

In the result, the appeal of the assessee for assessment year

ITA 1689/MUM/2024[2012-13]Status: DisposedITAT Mumbai24 Jul 2024AY 2012-13

Bench: Shri Om Prakash Kant () & Shri Sandeep Singh Karhail ()

For Appellant: Mr. Madhur Aggarwal/For Respondent: Mr. Ashish Kumar, Sr. DR
Section 143(3)Section 147Section 250

binding decision of the Hon'ble Tribunal. Hon'ble Tribunal. Ground No. 7: Assessment und Ground No. 7: Assessment under the provisions of section 161(1) er the provisions of section 161(1) of the Act Without prejudice to the above, on the facts and circumstances of the Without prejudice ... have made the assessment in terms of section 10(35) of the Act, ought to have made the assessment in terms of section 161(1) of the Act. of the Act. The Appellant prays, on a without prejudice basis, that where exemption The Appellant prays, on a without prejudice basis

MISS SNEHI SIDDHARTH PATEL FAMILY TRUST,MARKET YARD SANGLI vs. ITO 1(2) PUNE, AAKAR BHAVAN SANGLI

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

ITA 525/PUN/2024[2021-22]Status: DisposedITAT Pune02 May 2024AY 2021-22

Bench: Shri Inturi Rama Rao & Shri Vinay Bhamore

For Appellant: Shri Pramod S. ShingteFor Respondent: Shri Manoj Tripathi
Section 143(1)Section 154Section 161(1)Section 164

1) of the Act vide intimation dated 13.10.2022 assessing the returned income at 2 maximum marginal tax rate by invoking the provisions of section 161(1) of the Act. The appellant moved petition u/s. 154 seeking rectification of the said intimation. The said petition came to be rejected vide order

DY. COMMISSIONER OF INCOME TAX, (EXEMPTION)-2(1), MUMBAI vs. M/S UTI INDIA FUND UNIT SCHEME 1986., MUMBAI

In the result, appeal filed by the revenue and cross objection filed by the assessee are dismissed

ITA 1862/MUM/2023[2018-2019]Status: DisposedITAT Mumbai24 Nov 2023AY 2018-2019

Bench: Shri Narender Kumar Choudhry, Hon’Ble & Shri S. Rifaur Rahman, Hon'Ble

Section 10Section 143(2)

behalf of its unit holders/beneficiaries as the appellant being the specific trust was a pass through/ step through trust and in terms of section 161(1) of the Income Tax Act, 1961, the appellant could not be assessed qua income earned on behalf of its beneficiary" 2. On the facts

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