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“maximum marginal rate”

Chapter I - PreliminarySection 2 - DefinitionsSection 2(29C) / ITR-6 Schedule 115TD587 judgments

The decision most relied on for maximum marginal rate is 1. Father Mullers Charitable Institutions 363 IT 230 (Kar.) 2. DIT(E) v. Sheth Mafatlal Gagalbhai Foundation Trust (249 ITR 533), cited in 108 judgments on BharatTax.

Leading authorities on maximum marginal rate

1. Father Mullers Charitable Institutions 363 IT 230 (Kar.) 2. DIT(E) v. Sheth Mafatlal Gagalbhai Foundation Trust
249 ITR 533 · 2001 · High Court
108
citing judgments

Income of a trust that is taxable at the maximum marginal rate should be taxed accordingly, while other income is eligible for exemption under Section 11 of the Income-tax Act.

DIT v. Bharat Diamond Bourse
259 ITR 280 · 2003 · Supreme Court
86
citing judgments

Violation of investment mandates under Section 13(1)(d) of the Income Tax Act, 1961, for a charitable trust results in the complete denial of exemption under Section 11 of the Act.

Trust (249 ITR 533) (Bom.) 3. CIT vs. Red Rose School (163 Taxman 19 (All.) 4. DIT(E) v. Alarippu (
172 ITR 698 · 1988 · High Court
61
citing judgments

Income received by a trust from sources like extra fees can be taxed at the maximum marginal rate, while other income remains eligible for exemption under Section 11 of the Income Tax Act.

CWT v. Trustees of H.E.H. Nizam’s
108 ITR 555 · 1977 · Supreme Court
46
citing judgments

Where the shares of beneficiaries in a trust are determinate, trustees must be assessed separately for each beneficiary's share, treating each beneficiary as an individual. The income is then taxed at the marginal rate applicable to individuals, not at the maximum rate for an association of persons.

CIT v. Working Women’s Forum
365 ITR 353 · 2014 · High Court
34
citing judgments

When an exemption is denied under Section 13(1)(c) or (d), the denial of exemption applies only to the portion of income that violates these provisions, not the entire income.

CIT v. V.S. Dempo & Co. Pvt. Ltd.
336 ITR 209 · 2011 · High Court
27
citing judgments

Disallowance under Section 40A(2)(b) is not maintainable when both the payer and payee are assessed at the maximum marginal rate, as it results in a revenue-neutral situation.

Kar.) 2. DIT(E) vs. Sheth Mafatlal Gagalbhai Foundation Trust (249 ITR 533) (Bom.) 3. CIT v. Red Rose School (
224 ITR 358 · High Court
22
citing judgments

Income received by a trust that is considered 'extra fees' is taxable at the maximum marginal rate, while other income of the trust is eligible for exemption under Section 11.

Araadhya Jain Trust v. ITO
173 Taxmann.com 343 · 2025 · ITAT
22
citing judgments

The definition of maximum marginal rate under section 2(29C) can be interpreted to determine the applicable surcharge rates, particularly for income including dividends, as per the First Schedule to the Finance Act. This affects how surcharge is calculated on taxable income.

Judgments citing maximum marginal rate

Avm Charities, Chennai vs. ITO, Exemption Ward, Chennai

In the result, appeals filed by the assessee for AYs 2012-13 to 2014-15 are allowed and appeals filed by the assessee for AYs 2015-16 to 2018-19 are partly allowed

ITA 1633/CHNY/2023[2013-14]Status: DisposedITAT Chennai27 Mar 2024AY 2013-14

Bench: Shri V. Durga Rao, Hon’Ble & Shri Manjunatha. G, Hon’Ble

For Appellant: Shri B. Ramakrishna, FCA &For Respondent: Shri V. Nandakumar, CIT
Section 11Section 11(4)Section 13(1)(c)Section 147Section 164(2)

appellant by invoking provisions of section 13(1)(c) r.w.s.13(2) of the Act and in consequently erred in levying tax at maximum marginal rate as per Proviso to Section 164(2) of the Act. 11. For that the Learned Commissioner of Income Tax (Appeals) erred in confirming the action ... M/s.CFD as income of the assessee by invoking provisions of Sec.13(1)(c) of the Act and consequently, erred in levying tax on maximum marginal rate as per provisions of Sec.164(2) of the Act. The Ld.Counsel for the assessee referring to agreement between the assessee and the partnership firm

M/S. A V M Charities, Chennai vs. ITO, Exemptions Ward-1, Chennai

In the result, appeals filed by the assessee for AYs 2012-13 to 2014-15 are allowed and appeals filed by the assessee for AYs 2015-16 to 2018-19 are partly allowed

ITA 1632/CHNY/2023[2012-13]Status: DisposedITAT Chennai27 Mar 2024AY 2012-13

Bench: Shri V. Durga Rao, Hon’Ble & Shri Manjunatha. G, Hon’Ble

For Appellant: Shri B. Ramakrishna, FCA &For Respondent: Shri V. Nandakumar, CIT
Section 11Section 11(4)Section 13(1)(c)Section 147Section 164(2)

appellant by invoking provisions of section 13(1)(c) r.w.s.13(2) of the Act and in consequently erred in levying tax at maximum marginal rate as per Proviso to Section 164(2) of the Act. 11. For that the Learned Commissioner of Income Tax (Appeals) erred in confirming the action ... M/s.CFD as income of the assessee by invoking provisions of Sec.13(1)(c) of the Act and consequently, erred in levying tax on maximum marginal rate as per provisions of Sec.164(2) of the Act. The Ld.Counsel for the assessee referring to agreement between the assessee and the partnership firm

Gayatri Sewa Sansthan, Ghaziabad vs. DCIT, Circle-1, Ghaziabad

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

ITA 3958/DEL/2018[2014-15]Status: DisposedITAT Delhi22 Mar 2024AY 2014-15

Bench: Shri Kul Bharat & Dr.B.R.R.Kumar

Section 143(3)Section 68

That the CIT(A) erred on facts and in law in not deciding the issue in respect of charges tax at Maximum Marginal Rate. 4. That the CIT(A) erred in confirming levy of interest under sections 234B and 234C of the Act. The appellant craves leave to add, amend ... Pvt.Ltd. 3. That the CIT(A) erred on facts and in law in not deciding the issue in respect of charges tax at Maximum marginal Rate. 4. That the CIT(A) erred in confirming levy of interest under section 234B of the Act. The appellant carves leave to add, amend

Gayatri Sewa Sansthan, Ghaziabad vs. DCIT, Circle-1, Ghaziabad

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

ITA 3957/DEL/2018[2012-13]Status: DisposedITAT Delhi22 Mar 2024AY 2012-13

Bench: Shri Kul Bharat & Dr.B.R.R.Kumar

Section 143(3)Section 68

That the CIT(A) erred on facts and in law in not deciding the issue in respect of charges tax at Maximum Marginal Rate. 4. That the CIT(A) erred in confirming levy of interest under sections 234B and 234C of the Act. The appellant craves leave to add, amend ... Pvt.Ltd. 3. That the CIT(A) erred on facts and in law in not deciding the issue in respect of charges tax at Maximum marginal Rate. 4. That the CIT(A) erred in confirming levy of interest under section 234B of the Act. The appellant carves leave to add, amend

M/S. Gayatri Sewa Sansthan, Ghaziabad vs. DCIT, Ghaziabad

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

ITA 5802/DEL/2016[2014-15]Status: DisposedITAT Delhi22 Mar 2024AY 2014-15

Bench: Shri Kul Bharat & Dr.B.R.R.Kumar

Section 143(3)Section 68

That the CIT(A) erred on facts and in law in not deciding the issue in respect of charges tax at Maximum Marginal Rate. 4. That the CIT(A) erred in confirming levy of interest under sections 234B and 234C of the Act. The appellant craves leave to add, amend ... Pvt.Ltd. 3. That the CIT(A) erred on facts and in law in not deciding the issue in respect of charges tax at Maximum marginal Rate. 4. That the CIT(A) erred in confirming levy of interest under section 234B of the Act. The appellant carves leave to add, amend

M/S. Gayatri Sewa Sansthan, Ghaziabad vs. DCIT, Ghaziabad

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

ITA 1927/DEL/2016[2012-13]Status: DisposedITAT Delhi22 Mar 2024AY 2012-13

Bench: Shri Kul Bharat & Dr.B.R.R.Kumar

Section 143(3)Section 68

That the CIT(A) erred on facts and in law in not deciding the issue in respect of charges tax at Maximum Marginal Rate. 4. That the CIT(A) erred in confirming levy of interest under sections 234B and 234C of the Act. The appellant craves leave to add, amend ... Pvt.Ltd. 3. That the CIT(A) erred on facts and in law in not deciding the issue in respect of charges tax at Maximum marginal Rate. 4. That the CIT(A) erred in confirming levy of interest under section 234B of the Act. The appellant carves leave to add, amend

Shri Girishbhai Vadilal Shah, Ahmedabad vs. DCIT, Circle-5(2), Ahmedabad

In the result, the appeal of the assessee is allowed

ITA 429/AHD/2018[2013-14]Status: DisposedITAT Ahmedabad15 Mar 2024AY 2013-14

Bench: Smt.Annapurna Gupta & Ms. Madhumita Royassessment Year : 2013-14 Shri Girishbhai Vadilal Shah The Dy.Cit 139, V.R. Shah Smruti Vs Circle-5(2) Shikshan Mandir Ahmedabad Nr.Dharnidhar Derasar Vasna Ahmedabad-380 007 Pan: Abjps 3102 P अपीलाथ"/ (Appellant) "" यथ"/ (Respondent) Assessee By : Shri Jaimin Shah, Ar Revenue By : Ms.Saumya Pandey Jain, Sr.Dr सुनवाई क" तार"ख/Date Of Hearing : 05/03/2024 घोषणा क" तार"ख /Date Of Pronouncement: 15/03/2024 आदेश/O R D E R Per Annapurna Gupta:

For Appellant: Shri Jaimin Shah, ARFor Respondent: Ms.Saumya Pandey Jain, Sr.DR
Section 271(1)(c)Section 57

disallowed the notional interest of Rs.54,32,948/- without considering the facts that the advances given to the persons are paying tax at maximum marginal rate and therefore there is no any question of tax evasion. However the disallowances made without considering the above facts and circumstances which requires

Fantex Educational Society, Faridabad vs. ITO Ward Exemption, Faridabad

In the result, the appeals of the assessee are allowed for statistical purpose

ITA 852/DEL/2023[2018-19]Status: DisposedITAT Delhi15 Mar 2024AY 2018-19

Bench: Sh. Kul Bharatdr. B. R. R. Kumar

For Appellant: NoneFor Respondent: Sh. Vivek K. UPadhyay, Sr. DR
Section 167BSection 250

case and in law the NFAC erred in treating the society formed under the Societies Registration Act, 1860 as AOP taxable at maximum marginal rate of tax without appreciating the provisions of Section 167B. 2. On the facts and in the circumstances of the case and in law the NFAC

Fantex Educational Society, Faridabad vs. ITO Ward Exemption, Faridabad

In the result, the appeals of the assessee are allowed for statistical purpose

ITA 851/DEL/2023[2017-18]Status: DisposedITAT Delhi15 Mar 2024AY 2017-18

Bench: Sh. Kul Bharatdr. B. R. R. Kumar

For Appellant: NoneFor Respondent: Sh. Vivek K. UPadhyay, Sr. DR
Section 167BSection 250

case and in law the NFAC erred in treating the society formed under the Societies Registration Act, 1860 as AOP taxable at maximum marginal rate of tax without appreciating the provisions of Section 167B. 2. On the facts and in the circumstances of the case and in law the NFAC

The Nehru Memorial Education Society, Kanhangad vs. ITO Exemptions, Kannur

In the result, the assessee’s appeal is allowed

ITA 159/COCH/2023[2013-14]Status: DisposedITAT Cochin07 Mar 2024AY 2013-14

Bench: Shri Sanjay Arora & Dr. S. Seethalakshmithe Nehru Memorial The Income Tax Officer Education Society (Exemptions), Kannur Lakshmi Nivas Vs. Kanhangad - 671315 Kasaragod [Pan:Aabtt0633M] (Appellant) (Respondent)

For Appellant: Shri P.M. Veeramani, CAFor Respondent: Smt. J.M. Jamuna Devi, Sr. D.R
Section 10Section 11(1)Section 11(1)(d)Section 12ASection 143(1)Section 143(1)(a)Section 154Section 2

entitled to any share in the income of the Association of Persons (AOP), the provisions of s. 167A, imposing tax at the maximum marginal rate, shall not apply, and tax shall be payable in such cases at the rate ordinarily applicable to the total income of the AOP. The same ... applicable to the case of the Appellant for the A.Y. 2013-14 also. 4. The Tax charged u/s. 143(1) is at the Maximum Marginal Rate. In the case of a Society or a Trust it is chargeable under the rate chargeable to individual assessee as per the Circular

M/S Mahakavi Edasseri Smaraka Trust, Thrissur vs. The ITO Exemption Ward, Thrissur

In the result, the assessee’s appeal is allowed

ITA 59/COCH/2023[2018-19]Status: DisposedITAT Cochin29 Feb 2024AY 2018-19

Bench: Shri Sanjay Arora & Shri Manomohan Dasmahakavi Edasseri Smaraka Trust Income Tax Officer (Exemptions) 0, Kumkumam, Kanattukara Thrissur Vs. Thrissur 680001 [Pan:Aadtm8374N] (Appellant) (Respondent)

For Appellant: ----- None -----For Respondent: Smt. J.M. Jamuna Devi, Sr. D.R
Section 11(1)(a)Section 12ASection 139(1)Section 143(1)(a)Section 154

this that leads to the impugned demand, is the tax rate applied, which has been by the Revenue at the maximum marginal rate, duly raised by the assessee per its grounds of appeal before us. The assessee surely did not raise this issue before the ld. CIT(A), whose adjudication ... hearing Smt. Devi, the ld. Sr. DR. 4.6 We again find no reason for application of section 167B of the Act, prescribing the maximum marginal rate in the instant case, which is one of a charitable trust. Section 167B, as a reading of the provision would show, is only where

M/S Worldpart Ltd vs. DCIT, Intnl Taxn Circle-2(2), Chennai

In the result, the appeals of the revenue stand dismissed

ITA 760/CHNY/2023[2015-16]Status: DisposedITAT Chennai29 Feb 2024AY 2015-16

Bench: Shri V. Durga Rao & Shri Manoj Kumar Aggarwalआयकर अपील सं./I.T.A. Nos.740 & 741/Chny/2023 िनधा"रण वष"/Assessment Years: 2013-14 & 2014-15 The Deputy Commissioner Of Vs. M/S. Worldpart Limited, Income Tax, International Taxation 3, Julia House, Themistocles Dervis, Circle 2(2), Chennai. Nicosia 106600, Foreign Cyprus Represented By: M/S. K M Mohandass & Co., No. 36, 1St Street, Sait Colony, Egmore, Chennai 600 008. [Pan:Aaacw9185B] (अपीलाथ" /Appellant) (""थ"/Respondent) आयकर अपील सं./I.T.A. Nos.758, 759 & 760/Chny/2023 िनधा"रण वष"/Assessment Years: 2013-14, 2014-15 & 2015-16 M/S. World Part Limited, Vs. The Deputy Commissioner Of C/O B S R & Company, 9Th Floor, Income Tax, International Taxation Business Plaza, Westin Hotel Circle 2(2), Chennai. Campus, 36/3-B Koregaon Park Annex, Mundhwa Road, Ghorpadi, Pune, Maharashtra 411 001. (अपीलाथ" /Appellant) (""थ"/Respondent) Department By : Shri Clement Ramesh Kumar, Cit Assessee By Shri R. Sivaraman, Advocate : सुनवाई की तारीख/ Date Of Hearing 23.01.2024 : घोषणा की तारीख /Date Of Pronouncement : 29.02.2024 आदेश /O R D E R Per V. Durga Rao:

For Respondent: Shri Clement Ramesh Kumar, CIT
Section 143(3)Section 147

conduit company, merely for the purpose of obtaining unjustified tax benefits, the income being treated as interest income, ought to be taxed at maximum marginal rate of 40% as other income. 3 I.T.A. Nos.740-741 & 758-760/Chny/23 It is evident that the sole issue that fall for our consideration ... same facts, has taken similar stand and held that assessee’s income was to be taxed at Maximum Marginal Rate. The Ld. CIT(A) held that the assessee was only the legal owner of interest and therefore, the applicable rate of tax would be 20% as laid down u/s 115A

M/S Worldpart Ltd vs. DCIT, Intnl Taxn Circle-2(2), Chennai

In the result, the appeals of the revenue stand dismissed

ITA 759/CHNY/2023[2014-15]Status: DisposedITAT Chennai29 Feb 2024AY 2014-15

Bench: Shri V. Durga Rao & Shri Manoj Kumar Aggarwalआयकर अपील सं./I.T.A. Nos.740 & 741/Chny/2023 िनधा"रण वष"/Assessment Years: 2013-14 & 2014-15 The Deputy Commissioner Of Vs. M/S. Worldpart Limited, Income Tax, International Taxation 3, Julia House, Themistocles Dervis, Circle 2(2), Chennai. Nicosia 106600, Foreign Cyprus Represented By: M/S. K M Mohandass & Co., No. 36, 1St Street, Sait Colony, Egmore, Chennai 600 008. [Pan:Aaacw9185B] (अपीलाथ" /Appellant) (""थ"/Respondent) आयकर अपील सं./I.T.A. Nos.758, 759 & 760/Chny/2023 िनधा"रण वष"/Assessment Years: 2013-14, 2014-15 & 2015-16 M/S. World Part Limited, Vs. The Deputy Commissioner Of C/O B S R & Company, 9Th Floor, Income Tax, International Taxation Business Plaza, Westin Hotel Circle 2(2), Chennai. Campus, 36/3-B Koregaon Park Annex, Mundhwa Road, Ghorpadi, Pune, Maharashtra 411 001. (अपीलाथ" /Appellant) (""थ"/Respondent) Department By : Shri Clement Ramesh Kumar, Cit Assessee By Shri R. Sivaraman, Advocate : सुनवाई की तारीख/ Date Of Hearing 23.01.2024 : घोषणा की तारीख /Date Of Pronouncement : 29.02.2024 आदेश /O R D E R Per V. Durga Rao:

For Respondent: Shri Clement Ramesh Kumar, CIT
Section 143(3)Section 147

conduit company, merely for the purpose of obtaining unjustified tax benefits, the income being treated as interest income, ought to be taxed at maximum marginal rate of 40% as other income. 3 I.T.A. Nos.740-741 & 758-760/Chny/23 It is evident that the sole issue that fall for our consideration ... same facts, has taken similar stand and held that assessee’s income was to be taxed at Maximum Marginal Rate. The Ld. CIT(A) held that the assessee was only the legal owner of interest and therefore, the applicable rate of tax would be 20% as laid down u/s 115A

M/S Worldpart Ltd vs. DCIT, Intnl Taxn Circle-2(2), Chennai

In the result, the appeals of the revenue stand dismissed

ITA 758/CHNY/2023[2013-14]Status: DisposedITAT Chennai29 Feb 2024AY 2013-14

Bench: Shri V. Durga Rao & Shri Manoj Kumar Aggarwalआयकर अपील सं./I.T.A. Nos.740 & 741/Chny/2023 िनधा"रण वष"/Assessment Years: 2013-14 & 2014-15 The Deputy Commissioner Of Vs. M/S. Worldpart Limited, Income Tax, International Taxation 3, Julia House, Themistocles Dervis, Circle 2(2), Chennai. Nicosia 106600, Foreign Cyprus Represented By: M/S. K M Mohandass & Co., No. 36, 1St Street, Sait Colony, Egmore, Chennai 600 008. [Pan:Aaacw9185B] (अपीलाथ" /Appellant) (""थ"/Respondent) आयकर अपील सं./I.T.A. Nos.758, 759 & 760/Chny/2023 िनधा"रण वष"/Assessment Years: 2013-14, 2014-15 & 2015-16 M/S. World Part Limited, Vs. The Deputy Commissioner Of C/O B S R & Company, 9Th Floor, Income Tax, International Taxation Business Plaza, Westin Hotel Circle 2(2), Chennai. Campus, 36/3-B Koregaon Park Annex, Mundhwa Road, Ghorpadi, Pune, Maharashtra 411 001. (अपीलाथ" /Appellant) (""थ"/Respondent) Department By : Shri Clement Ramesh Kumar, Cit Assessee By Shri R. Sivaraman, Advocate : सुनवाई की तारीख/ Date Of Hearing 23.01.2024 : घोषणा की तारीख /Date Of Pronouncement : 29.02.2024 आदेश /O R D E R Per V. Durga Rao:

For Respondent: Shri Clement Ramesh Kumar, CIT
Section 143(3)Section 147

conduit company, merely for the purpose of obtaining unjustified tax benefits, the income being treated as interest income, ought to be taxed at maximum marginal rate of 40% as other income. 3 I.T.A. Nos.740-741 & 758-760/Chny/23 It is evident that the sole issue that fall for our consideration ... same facts, has taken similar stand and held that assessee’s income was to be taxed at Maximum Marginal Rate. The Ld. CIT(A) held that the assessee was only the legal owner of interest and therefore, the applicable rate of tax would be 20% as laid down u/s 115A

DCIT, Intnl Taxn Circle-2(2), Chennai vs. M/S Worldpart Ltd., Nicosia

In the result, the appeals of the revenue stand dismissed

ITA 741/CHNY/2023[2014-15]Status: DisposedITAT Chennai29 Feb 2024AY 2014-15

Bench: Shri V. Durga Rao & Shri Manoj Kumar Aggarwalआयकर अपील सं./I.T.A. Nos.740 & 741/Chny/2023 िनधा"रण वष"/Assessment Years: 2013-14 & 2014-15 The Deputy Commissioner Of Vs. M/S. Worldpart Limited, Income Tax, International Taxation 3, Julia House, Themistocles Dervis, Circle 2(2), Chennai. Nicosia 106600, Foreign Cyprus Represented By: M/S. K M Mohandass & Co., No. 36, 1St Street, Sait Colony, Egmore, Chennai 600 008. [Pan:Aaacw9185B] (अपीलाथ" /Appellant) (""थ"/Respondent) आयकर अपील सं./I.T.A. Nos.758, 759 & 760/Chny/2023 िनधा"रण वष"/Assessment Years: 2013-14, 2014-15 & 2015-16 M/S. World Part Limited, Vs. The Deputy Commissioner Of C/O B S R & Company, 9Th Floor, Income Tax, International Taxation Business Plaza, Westin Hotel Circle 2(2), Chennai. Campus, 36/3-B Koregaon Park Annex, Mundhwa Road, Ghorpadi, Pune, Maharashtra 411 001. (अपीलाथ" /Appellant) (""थ"/Respondent) Department By : Shri Clement Ramesh Kumar, Cit Assessee By Shri R. Sivaraman, Advocate : सुनवाई की तारीख/ Date Of Hearing 23.01.2024 : घोषणा की तारीख /Date Of Pronouncement : 29.02.2024 आदेश /O R D E R Per V. Durga Rao:

For Respondent: Shri Clement Ramesh Kumar, CIT
Section 143(3)Section 147

conduit company, merely for the purpose of obtaining unjustified tax benefits, the income being treated as interest income, ought to be taxed at maximum marginal rate of 40% as other income. 3 I.T.A. Nos.740-741 & 758-760/Chny/23 It is evident that the sole issue that fall for our consideration ... same facts, has taken similar stand and held that assessee’s income was to be taxed at Maximum Marginal Rate. The Ld. CIT(A) held that the assessee was only the legal owner of interest and therefore, the applicable rate of tax would be 20% as laid down u/s 115A

DCIT, Intnl Taxn Circle-2(2), Chennai vs. M/S Worldpart Ltd., Nicosia

In the result, the appeals of the revenue stand dismissed

ITA 740/CHNY/2023[2013-14]Status: DisposedITAT Chennai29 Feb 2024AY 2013-14

Bench: Shri V. Durga Rao & Shri Manoj Kumar Aggarwalआयकर अपील सं./I.T.A. Nos.740 & 741/Chny/2023 िनधा"रण वष"/Assessment Years: 2013-14 & 2014-15 The Deputy Commissioner Of Vs. M/S. Worldpart Limited, Income Tax, International Taxation 3, Julia House, Themistocles Dervis, Circle 2(2), Chennai. Nicosia 106600, Foreign Cyprus Represented By: M/S. K M Mohandass & Co., No. 36, 1St Street, Sait Colony, Egmore, Chennai 600 008. [Pan:Aaacw9185B] (अपीलाथ" /Appellant) (""थ"/Respondent) आयकर अपील सं./I.T.A. Nos.758, 759 & 760/Chny/2023 िनधा"रण वष"/Assessment Years: 2013-14, 2014-15 & 2015-16 M/S. World Part Limited, Vs. The Deputy Commissioner Of C/O B S R & Company, 9Th Floor, Income Tax, International Taxation Business Plaza, Westin Hotel Circle 2(2), Chennai. Campus, 36/3-B Koregaon Park Annex, Mundhwa Road, Ghorpadi, Pune, Maharashtra 411 001. (अपीलाथ" /Appellant) (""थ"/Respondent) Department By : Shri Clement Ramesh Kumar, Cit Assessee By Shri R. Sivaraman, Advocate : सुनवाई की तारीख/ Date Of Hearing 23.01.2024 : घोषणा की तारीख /Date Of Pronouncement : 29.02.2024 आदेश /O R D E R Per V. Durga Rao:

For Respondent: Shri Clement Ramesh Kumar, CIT
Section 143(3)Section 147

conduit company, merely for the purpose of obtaining unjustified tax benefits, the income being treated as interest income, ought to be taxed at maximum marginal rate of 40% as other income. 3 I.T.A. Nos.740-741 & 758-760/Chny/23 It is evident that the sole issue that fall for our consideration ... same facts, has taken similar stand and held that assessee’s income was to be taxed at Maximum Marginal Rate. The Ld. CIT(A) held that the assessee was only the legal owner of interest and therefore, the applicable rate of tax would be 20% as laid down u/s 115A

Free India Broking Services Pvt. Ltd, Mumbai vs. ACIT, CPC, Bangaluru, Bengaluru

In the result, the appeal filed by assessee is allowed for statistical purposes

ITA 3553/MUM/2023[2010-11]Status: DisposedITAT Mumbai19 Feb 2024AY 2010-11

Bench: Shri Pavan Kumar Gadale & Shri Gagan Goyalfree India Broking Vs. Acit, Cpc Services Pvt Ltd, Incometaxdepartment, 108, Prime Plaza, Electronic City, Jv Patel Compound, Post Office, Elphistone (W), Bangalore -560100. Mumbai-400013 Pan/Gir No. : Aaacf5729Q Appellant .. Respondent

For Appellant: Shri.Subodh Ratnaparkhi.ARFor Respondent: Ms. Rajeshwari Menon Sr.DR
Section 115JSection 143(1)Section 143(1)(a)

deleted. 4. Without prejudice to the above, the income of the AOP had been charged to tax in its own hands at maximum marginal rate and therefore the same amount cannot be included in the hands of the appellant for application of sec. 115JB

Kalhar Co. Op. Hsg. Society Ltd. Part-2, Gandhinagar vs. The ITO, Ward-1, Mehsana

In the result, appeal failed by the assessee is allowed

ITA 802/AHD/2023[2020-21]Status: DisposedITAT Ahmedabad31 Jan 2024AY 2020-21

Bench: Ms. Suchitra Kambleassessment Year: 2020-21

Section 143(1)Section 143(2)Section 143(3)Section 250Section 57

NFAC, Delhi, (for short 'NFAC’) upholding the disallowance of the claim of expenses aggregating to Rs.55,34,578/-and charging tax at maximum marginal rate on the assessed income is wholly illegal, unlawful and against the principles of natural justice. 1.2 The Ld. NFAC has grievously erred ... common expenses towards upkeepment and maintenance of the society. 3.1 The Id. AO has erred in charging tax on the assessed income at maximum marginal rate instead of the normal rate as applicable to individual. The NFAC has failed to deal with this ground. 3.2 The Id. NFAC ought

M/S. Manipal Hospitals (Dwarka) Pvt. Ltd., (Before Merger Approved by Nclt Known As 'Manipal Hospitals (Jaipur) Pvt. Ltd., Bengaluru vs. Assistant Commissioner of Income-Tax, Circle-2(3)(1), Bengaluru

In the result, the appeal by the assessee is allowed

ITA 1075/BANG/2023[2016-17]Status: DisposedITAT Bangalore31 Jan 2024AY 2016-17

Bench: Shri George George K. & Shri Laxmi Prasad Sahuassessment Year : 2016-17

For Appellant: Shri S.K. Tulsiyan, AdvocateFor Respondent: Shri V. Parithivel, Jt.CIT(DR)(ITAT), Bengaluru
Section 40A(2)

disallowance can be made; more so in the light of the fact that both the companies are assessed to Income tax at maximum marginal rate. In the light of these facts, we are of the view that the disallowance made by the AO is not proper and accordingly

J. K. Educational Society, Jammu vs. DCIT, Circle-1, Chandigarh

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

ITA 685/CHANDI/2022[2009-10]Status: DisposedITAT Chandigarh30 Jan 2024AY 2009-10

Bench: SHRI. AAKASH DEEP JAIN (Vice President), SHRI. VIKRAM SINGH YADAV (Accountant Member)

For Appellant: Shri P.N. Arora, AdvocateFor Respondent: Smt. Amanpreet Kaur, Sr. DR
Section 11Section 147Section 271(1)(c)

which is not exempt u/s 11 virtue of clause (c) or clause (d) of section 13(1) can be charged to tax at Maximum Marginal Rate as per provisions of section 164(2) of the IT Act, 1961on account of rent, in that case only the tax can be levied ... that said disallowance, if any and the tax can be charged at the maximum marginal rate as provided in section 164 of the IT Act, 1961 and the exemption u/s 11 cannot be denied and the whole of the excess income over expenditure of the trust cannot be added back