“section 10(23C)”

Axis Bank Foundation, Mumbai vs. CIT (Exemption), Mumbai

In the result, the present appeal is allowed

objects of the trust. He referred to Memorandum Explaining the Provisions In the Finance Bill, 2022 to contend that the amendments to Section 10(23C) and 11 of the Act providing that applications out of corpus shall not be considered as application for charitable purposes have been brought into force ... Representative for the Appellant had submitted that the assessment order is not erroneous and in support thereto had highlighted that the amendments to Section 10(23C) and 11 of the Act which provide that applications out of corpus shall not be considered as application for charitable purposes have been introduced

Pegasus Properties P. Ltd., Pune vs. Dy CIT, CC-2(3), Mumbai

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

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Pavan Kumar Gadale, Hon'Ble

IN THE INCOME TAX APPELLATE TRIBUNAL “C” BENCH, MUMBAI BEFORE SHRI S. RIFAUR RAHMAN, HON'BLE ACCOUNTANT MEMBER AND SHRI

Jamait Ulama Halal Foundation, Mumbai vs. CIT (Exemptions), Mumbai

In the result, the appeal of the assessee stands dismissed

Bench: Shri Sanjay Garg & Shri Om Prakash Kanti.T.A. No.4738/Mum/2018 Assessment Year: 2018-19 Jamait Ulama Halal Foundation….….……..….…..………………….……Appellant Opp. Bit Chawl No.01, Imam Wada Compound, Imam Wada Road, Mumbai-400009. [Pan: Aabtj5351Q] Vs. Cit(Exemptions), Mumbai………………….…………...……………..…..Respondent Appearances By: None Appeared On Behalf Of The Appellant. Shri V. K. Chaturvedi Appeared On Behalf Of The Respondent. Date Of Concluding The Hearing : May 12, 2022 Date Of Pronouncing The Order : May 12, 2022 Order Per Sanjay Garg:

section 2(15) does not apply, 1S not acceptable. A plain reading of provisions of section 11(4A), the seventh proviso to section 10(23C) of the I.T. Act and other relevant provisions relied upon by the assessee show that what is permitted to a charitable organization which alongwith charitable ... certification business. Hence, the alternative plea taken by the assessee under the conditions stipulated under section 11(4A) or the seventh proviso to section 10(23C) otherwise also do not comes to its rescue. i) The facts of the case relied upon by the assessee [Indian Trade Promotion Organization

M/S. Podar Literacy and Education Trust, Bangalore vs. Dy CIT, CC--1(4), Mumbai

In the result, appeal of the assessee is allowed

IN THE INCOME TAX APPELLATE TRIBUNAL, ‘C‘ BENCH MUMBAI BEFORE: SHRI M.BALAGANESH, ACCOUNTANT MEMBER & MS. KAVITHA RAJAGOPAL, JUDICIAL MEMBER M/s

Maharashtra Housing & Area Development Authority, Mumbai vs. DDIT (E) 1(1), Mumbai

In the result, the appeal of the assessee is partly allowed

Bench: Us:

otherwise required. The expression "charitable purpose" appearing in Section 2(15) of the said Act has to be seen in the context of Section 10(23C)(iv). When the expression "charitable purpose", as defined in Section 2(15) of the said Act, is read m the context of Section 10 ... Section 2(15) cannot be construed literally and in absolute terms. It has to take colour and be considered in the context of Section 10(23C)(iv) of the said Act. It is also clear that if the literal interpretation is given to the proviso to Section

National Education Society, Mumbai vs. CIT (Exemption), Mumbai

In the result assessee’s appeal stands dismissed

Bench: The Itat. In The Earlier Round This Itat By The Order Dated 9.10.2018 Had Set Aside The Issue To The File Of Learned Cit(E). The Itat In The Said Order Has Concluded As Under :-

going through the order of CIT(E), it is noticed that none of the above condition/scope of enquiry for rejection of approval under section 10(23C)(via) was considered by him and hence, we remand this appeal back to the file of CIT(E) for fresh consideration the issue ... promotion of the public good, qualify your trust as "existing solely for educational purposes and not for purposes of profit, as mentioned in section 10(23C)(vi). 3. You are accorded an opportunity to attend in person or through an Authorized Representative before the undersigned on 23/02/2021

Sir Ratan Tata Trust, Mumbai vs. CIT (Exemption), Mumbai

Bench: Shri G. S. Pannu & Shri Vikas Awasthyआअसं. 773/मुं/2021 (िन.व.2016-17) Sir Ratan Tata Trust, Bombay House, 24, Homi Modi Street, Fort, Mumbai-400001. Pan: Aaats1013P ...... अपीलाथ" /Appellant बनाम Vs. Cit (Exemptions), Room No.617, 6Th Floor, Piramal Chambers, Lalbaug, Parel, Mumbai-400012 ..... "ितवादी/Respondent अपीलाथ" "ारा/ Appellant By : Sh. Sukhsagar Syal, Advocate "ितवादी "ारा/Respondent By : Sh. Amol Kirtane, Cit-Dr सुनवाई की ितिथ/ Date Of Hearing : 15/12/2021 घोषणा की ितिथ/ Date Of Pronouncement : 16/02/2022 आदेश/ Order

that, as pointed out to us by the learned counsel, the assessee trust was notified as an institution established for charitable purposes under section 10(23C)(iv), and this notification has been renewed from time to time. The conditions precedent for grant of notification under section 10(23C) were similar ... such assets were to form part of the corpus as on 1st June 1973. On these facts, while granting the exemption under section 10(23C), Under Secretary in the Central Board of Direct Taxes, Govt of India, vide letter no 197/126/91-ITA-I dated 31st July 1992, had written a letter

DCIT(E)-2(1), Mumbai vs. Nehru Centre, Mumbai

In the result, appeal filed by the revenue is dismissed

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Pavan Kumar Gadale, Hon'Bledcit (E) – 2(1) V. Nehru Centre Room No. 519, 5Th Floor Discovery Of India Building Piramal Chambers, Lalbaug 13Th Floor, Dr. Annie Besant Road Worli, Mumbai - 400018 Mumbai – 400 012 Pan: Aaatn2536J (Appellant) (Respondent) Assessee By : Shri Dilip Thakkar Department By : Shri Dilipkumar Shah

utility. An entity with a charitable object of the above nature was eligible for exemption from tax under section 11 or alternatively under section 10(23C) of the Act. However, it was seen that a number of entities who were engaged in commercial activities were also claiming exemption ... they incidentally carry on a commercial activity, subject, however, to the conditions stipulated under section 11(4A) or the seventh proviso to section 10(23C) which are that (i) the business should be incidental to the attainment of the objectives of the entity, and (ii) separate books of account should

Breach Candy Hospital Trust, Mumbai vs. CIT (Exemptions), Mumbai

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

Bench: Shri S Rifaur Rahman & Shri Pavan Kumar Gadalebreach Candy Hospital Vs. Cit (Exemptions) Trust, Room, Mp/ 617, 6Th 60, Bhulabhai Desai Floor, Piramal Road, Mumbai – Chambers, Lalbaug, 400026. Parel, Mumbai – 400012 "थायी लेखा सं./जीआइआर सं./Pan/Gir No. : Aaatb0214D Appellant .. Respondent Appellant By : Shri.Ketan Ved. Ar Respondent By : Shri. Mahesh Akhade. Dr Date Of Hearing 18.01.2022 Date Of Pronouncement 31.01.2022 आदेश / O R D E R Per Pavan Kumar Gadale Jm: The Assessee Has Filed An Appeal Against The Order Of The Commissioner Of Income Tax (Exemptions), Mumbai Passed U/S 263 Of The Act Dated 19.03.2021.The Assessee Has Raised The Following Grounds Of Appeal:

IN THE INCOME TAX APPELLATE TRIBUNAL “B” BENCH, MUMBAI BEFORE SHRI S RIFAUR RAHMAN, ACCOUNTANT MEMBER & SHRI PAVAN KUMAR GADALE

Dy CIT (Exemption)-2(1), Mumbai vs. M/S. Uti Institute of Capital Markets (Now Known M/S. National Institute Securities Markets), Mumbai

In the result, the appeal filed by the department is dismissed

Bench: Sri Kuldip Singh, Jm & Sri Prashant Maharishi, Am आयकर अऩीऱ सुं./ Ita No. 17/Mum/2021 (ननधधायण वर्ा / Assessment Year 2011-12) Dy. Commissioner Of Income M/S Uti Institute Of Capital Tax (Exemption)-2(1), Markets Room No. 519, 5Th Floor, (Now Known As M/S National Piramal Chambers, Lalbaug, Institute Securities Markets) बनाम/ Lower Parel, Nism Bhavan, Plot No. 82, Vs. Mumbai-400 012 Sector 17, Vashi, Navi Mumbai-400 705 (अऩीऱाथी / Appellant) (प्रत्यथी/ Respondent) स्थायी ऱेखा सुं./Pan No. Aaaan4685M अऩीरधथी की ओय से / Appellant By : None प्रत्मथी की ओय से / Respondent By : Shri Achal Sharma, Dr सुनवधई की तधयीख / Date Of Hearing: 30.12.2021 घोर्णध की तधयीख / Date Of Pronouncement : 06.01.2022 आदेश / O R D E R प्रशाुंत महर्षि, ऱेखा सदस्य के द्वारा / Per Prashant Maharishi, Am: 01. This Appeal Is Filed By The Dy. Commissioner Of Income Tax (Exemption) 2(1), Mumbai Against The Order Passed By The Commissioner Of Income Tax (Appeals)-1, Mumbai [In Short ‘The Cit(A)’] On 19.08.2020, Wherein The Appeal Filed By The Assessee Against The Assessment Order Passed Under Section 143(3) Of The Income-Tax Act, 1961 (Hereafter Referred As ‘Act’) Dated 19.03.2014 Was Allowed. M/S Uti Institute Of Capital Markets; Ay 11-12 02. The Only Issue Raised By The Learned Assessing Officer Is Allowance Of Carry Forward Of Deficit To The Assessee’S Trust.

आयकर अऩीऱीय अधधकरण “F” न्यायऩीठ म ुंबई में। IN THE INCOME TAX APPELLATE TRIBUNAL “F” BENCH, MUMBAI BEFORE SRI KULDIP