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“application of income”

Judicial DoctrinesDiversion vs ApplicationDiversion vs Application1,603 judgments

The decision most relied on for application of income is Maxopp Investment Ltd. v. CIT (402 ITR 640), cited in 1,596 judgments on BharatTax.

Leading authorities on application of income

Maxopp Investment Ltd. v. CIT
402 ITR 640 · 2018 · Supreme Court
1,596
citing judgments

Disallowance under Section 14A is not automatic and requires the Assessing Officer to record satisfaction before applying Rule 8D. Only investments yielding exempt income are considered for disallowance, irrespective of their strategic nature.

Godrej & Boyce Mfg. Co. Ltd. v. DCIT
328 ITR 81 · 2010 · High Court
1,183
citing judgments

Rule 8D, for computing disallowance under Section 14A for expenses related to exempt income, applies from Assessment Year 2008-09 onwards; for prior years, a reasonable disallowance must be made. The disallowance under Section 14A cannot exceed the actual exempt income earned.

CIT v. Max India Ltd.
295 ITR 282 · 2007 · Supreme Court
1,162
citing judgments

Under Section 263, an assessment order is not erroneous and prejudicial to the interest of the revenue merely because the Principal Commissioner disagrees with the Assessing Officer's (AO) view, particularly if the AO has adopted one of two permissible views in law, unless that view is completely unsustainable. If due inquiries were made, the AO's order does not become erroneous solely because the fact of inquiries was not recorded.

Godrej & Boyce Manufacturing Company Ltd. v. DCIT
394 ITR 449 · 2017 · Supreme Court
683
citing judgments

Expenditure can only be disallowed under Section 14A if the income is exempt and not part of the total income. The Assessing Officer must first record dissatisfaction with the assessee's accounts or computation before proceeding to make a disallowance under Section 14A or applying Rule 8D.

Commissioner of Income Tax v. Nova Promoters and Finlease (P) Ltd.
342 ITR 169 · 2012 · High Court
658
citing judgments

To make an addition under Section 68 for unexplained cash credits, the Assessing Officer must conduct proper inquiry into the identity, genuineness, and creditworthiness of the creditor, especially concerning share application money. The assessee's initial discharge of burden by providing necessary details shifts the onus back to the AO for further investigation, including the source of source.

Olari Little Flower Kuries (P.) Ltd. v. UOI
440 ITR 26 · 2022 · High Court
614
citing judgments

The fee under Section 234E of the Income-tax Act cannot be levied for defaults in filing TDS statements committed prior to June 1, 2015, as the provision for its levy became effective only from that date.

Dilip N. Shroff v. JCIT
291 ITR 519 · 2007 · Supreme Court
565
citing judgments

A penalty notice issued under Section 271(1)(c) is invalid if the Assessing Officer fails to strike out the inapplicable limb (concealment or furnishing inaccurate particulars) from the standard proforma, indicating non-application of mind. The initial burden of proving concealment or inaccurate particulars rests on the Revenue.

CIT v. Kaushalya
216 ITR 660 · 1995 · High Court
511
citing judgments

A penalty levied under Section 271(1)(c) for concealment or furnishing inaccurate particulars of income is not invalidated by the Assessing Officer's failure to strike off irrelevant portions in the show cause notice, provided the assessee understood the exact charge and suffered no prejudice, indicating an application of mind by the AO.

Judgments citing application of income

M/S. Ardee Foundation, New Delhi vs. CIT (Exemptions), New Delhi

ITA 2738/DEL/2017[2012-13]Status: DisposedITAT Delhi30 Jun 2021AY 2012-13

Bench: Hon’Ble N.K. Billaiya & Shri Kuldip Singh(Through Video Conference)

For Appellant: Shri U.N. Marwah, CAFor Respondent: Shri Satpal Gulati, CIT DR
Section 12ASection 143(3)Section 2(15)Section 263

case of double deduction and has been allowed without getting into the details since the cost of the assets has been allowed as application of income in the past. This finding is factually incorrect, legally misconceived, contrary to record and untenable. 1.2 That conclusion of the learned Commissioner of Income ... made any enquiry before allowing depreciation on assets to know whether the cost of such assets have been allowed as application on income in the past" is erroneous both factually and legally misconceived. 1.3 That the learned Commissioner of Income Tax has failed to appreciate that once the learned Assessing

ACIT(E), Circle-2(1), New Delhi vs. The British School Society, New Delhi

In the result the appeal of the Revenue in ITA No

ITA 4579/DEL/2017[2014-15]Status: DisposedITAT Delhi21 Jun 2021AY 2014-15

Bench: Shri N.K. Billaiya & Shri Kuldip Singh

For Appellant: Shri Himanshu Agarwal, AdvFor Respondent: ShriH.K. Choudhary , CIT-DR
Section 10Section 11Section 12ASection 15Section 2(15)Section 70Section 80G(5)(vi)

religious purposes in the earlier years against the income earned by the trust in the subsequent year will have to be regarded as application of income of the trust for charitable and religious purposes in the subsequent year in which adjustment has been made having regard to the benevolent provisions ... income of the subsequent year and the repayment of the said loan out of the income of the subsequent year would amount to application of income for charitable and religious purposes under section 11(1)(a.). If the trust takes a loan for the purposes of incurring expenses for charitable

M/S. Bhai Hospital Trust, New Delhi vs. DIT (Exemptions), New Delhi

In the result, the appeal of the assessee is allowed

ITA 4147/DEL/2011[]Status: DisposedITAT Delhi18 Jun 2021

Bench: Shri G.S. Pannu & Shri Kul Bharatassessment Year : Nil M/S. Bhai Hospital Trust, Dit(Exemption), 54, Janpath, Vs Plot No.15, 3Rd Floor, Connaught Place, Aayakar Bhawan, Laxmi New Delhi-110001. Nagar, District Centre, Pan-Aaatb0492M New Delhi-110092. Appellant Respondent Appellant By Sh. Tarandeep Singh, Adv. & Sh. Pulkit Verma, Adv. Respondent By Sh. Satpal Gulati, Cit Dr Date Of Hearing 05.05.2021 Date Of Pronouncement 18.06.2021

Section 10Section 11Section 11(5)Section 12ASection 2(15)

over the years, the charitable organizations are nothing but public entities and the fund thus hold belongs to the public and investment and application of income are to be made strictly as per the provisions of law. The trusts cannot invest and dispose off the funds as they like

ITO (E), Ward- 1(2), New Delhi vs. India Islamic Cultural Centre, New Delhi

In the result, the appeal of the Revenue is dismissed

ITA 208/DEL/2018[2014-15]Status: DisposedITAT Delhi27 May 2021AY 2014-15

Bench: Shri G.S. Pannu & Shri Kul Bharatassessment Year : 2014-15 Ito(E), India Islamic Cultural Centre, Ward-1(2), Vs 87-88, Lodhi Estate, New Delhi. New Delhi-110003. Pan-Aaati2770F Appellant Respondent Appellant By Sh. R.S.Singhvi, Ca & Sh.Satyajeet Goel, Ca. Respondent By Ms. Sunita Singh, Cit Dr Date Of Hearing 13.04.2021 Date Of Pronouncement 27.05.2021

Section 11Section 11(1)Section 143(3)Section 2(15)

allowing the claim of depreciation on fixed assets which will tantamount to double deduction, since acquisition of such assets had been allowed as application of income in earlier years. 2. Facts giving rise to the present appeal are that the case of the assessee was picked up for scrutiny assessment ... Assessing Officer has not allowed depreciation on assets purchased in earlier years because purchase of such assets had been claimed and allowed as application of income in earlier years. 4.2.2 I have considered the assessment order and the submissions of the appellant. Charitable trusts or institutions are governed

DCIT (Exemption), New Delhi vs. M/S. Nav Nirman Sewa Samiti, Delhi

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

ITA 645/DEL/2017[2012-13]Status: DisposedITAT Delhi11 May 2021AY 2012-13

Bench: Shri O.P. Kant & Shri Kuldip Singh[Through Video Conferencing]

Section 11Section 12ASection 143(3)Section 70

depreciation or otherwise in respect of any asset, acquisition of which has been 4 ITA No.645/Del./2017 claimed as an application of income under section 11 in the same or any other previous year. Para 7.5 of the said Explanatory Notes is reproduced as under: "7.5 The second issue which ... rationalized to ensure that double benefit is not claimed and such notional amount does not get excluded from the condition of application of income for charitable purpose." 4.1.5 There are many conflicting judgments of various Hon'ble High Courts, including of the jurisdictional High Court, both in favour and against

DCIT, Exemption- Circle, Ghaziabad vs. Aligarh Development Authority (Ada), Aligarh

In the result, the appeal of the Revenue is dismissed

ITA 7806/DEL/2017[2014-15]Status: DisposedITAT Delhi27 Apr 2021AY 2014-15

Bench: Shri Bhavnesh Saini & Shri O.P. Kant[Through Video Conferencing] Assessment Year: 2014-15 Dcit, Vs. Aligarh Development Exemption Circle, Authority (Ada), Ghaziabad Ramghat Road, Aligarh Up Pan: Aaala0082G (Appellant) (Respondent)

Section 11Section 143(3)Section 250

appellant is registered u/s. 12 AA, it is automatically entitled for exemption u/s. 11 if other conditions are fulfilled. Since the appellant’s application of income plus accumulation of income for charitable purposes is more than the 85% of the total income, the whole income would get exempted

Jogdhian Hari Bhagwan Rastogi Charitable Memorial Trust, New Delhi vs. ACIT (E) Circle-1(1), New Delhi

In the result, the appeal filed by the assessee in ITA No

ITA 3696/DEL/2019[2013-14]Status: DisposedITAT Delhi24 Mar 2021AY 2013-14

Bench: Shri N.K. Billaiya & Ms. Suchitra Kamble

For Appellant: Shri K. Sampath, AdvFor Respondent: Shri Mahesh Thakur, Sr DR
Section 11Section 12ASection 2(15)

society. 12. In furtherance of its objects, the assessee has also given donation of Rs. 2 lakhs and claimed the same as application of income. There is no dispute that the assessee trust is carrying on its activities since its inception and has never been denied the claim of exemption

ITO (Exemptions), Ward-1(2), New Delhi vs. Indian Olympic Association, New Delhi

ITA 1651/DEL/2018[2013-14]Status: DisposedITAT Delhi23 Mar 2021AY 2013-14
Section 11Section 2(15)

wherein the Hon'ble Supreme Court has held that even though the expenditure incurred for acquisition of capital assets was treated as application of income for charitable purposes u/s 11A(1) of the Act, yet depreciation would be allowed on assets so purchased. Ground No. 2 is, accordingly, dismissed

Iilm University, Gurgaon vs. CIT (Exemption), Chandigarh

In the result, the appeal of the assessee is allowed

ITA 1263/DEL/2019[-]Status: DisposedITAT Delhi22 Mar 2021

Bench: Sh. Kul Bharatdr. B. R. R. Kumar(Through Video Conferencing) Ita No. 1263/Del/2019 : Asstt. Year : Iilm University, Vs Cit(Exemptions), Plot No. 69-71, Dlf Golf Course Chandigarh Road, Sector-53, Gurgaon, Haryana-122003 (Appellant) (Respondent) Pan No. Aaaji0518H Assessee By : Sh. Rohit Jain, Adv. Revenue By : Ms. Vanita Sharma, Cit Dr Date Of Hearing: 17.03.2021 Date Of Pronouncement: 22.03.2021

For Appellant: Sh. Rohit Jain, AdvFor Respondent: Ms. Vanita Sharma, CIT DR
Section 12ASection 13(1)(c)

under section 12AA of the Act. 7. Admittedly, at the time of grant of registration the Commissioner is not empowered to examine the application of income but he has to examine whether the application is made in accordance with the requirements of section 12A of the Act and whether form ... also to satisfy himself about the genuineness of the activities of the trust or the institution. The Commissioner is not to examine the application of income at this juncture. The Hon'ble Supreme Court in CIT v. U.P. Forest Corpn. [1998] 230 ITR 945/97 Taxman 259 (SC), held that

Sat Kabir Sidhant Parchar Trust, Sonepat vs. CIT(Exem), Chandigarh

The appeals of the assessee are allowed for statistical purposes

ITA 4789/DEL/2017[NA]Status: DisposedITAT Delhi19 Mar 2021

Bench: Sh. K. N. Charydr. B. R. R. Kumar(Through Video Conferencing) Ita No. 4788/Del/2017 : Asstt. Year : Ita No. 4789/Del/2017 : Asstt. Year : Sat Kabir Sidhant Parchar Vs Cit(Exemptions) Trust, Vpo Kheri Dhamkan, Chandigarh Gohana, Sonepat, Haryana (Appellant) (Respondent) Pan No. Aaqts7275P Assessee By : Sh. Ved Jain, Adv. Revenue By : Ms. Aashna Paul, Cit Dr Date Of Hearing: 25.02.2021 Date Of Pronouncement: 19.03.2021

For Appellant: Sh. Ved Jain, AdvFor Respondent: Ms. Aashna Paul, CIT DR
Section 12ASection 2(15)Section 80G(5)(vi)

under section 12AA of the Act. 11. Admittedly, at the time of grant of registration the Commissioner is not empowered to examine the application of income but he has to examine whether the application is made in accordance with the requirements of section 12A of the Act and whether form ... also to satisfy himself about the genuineness of the activities of the trust or the institution. The Commissioner is not to examine the application of income at this juncture. The Hon'ble Supreme Court in CIT v. U.P. Forest Corpn. [1998] 230 ITR 945/97 Taxman 259 (SC), held that

Sat Kabir Sidhant Parchar Trust, Sonepat vs. CIT(Exem), Chandigarh

The appeals of the assessee are allowed for statistical purposes

ITA 4788/DEL/2017[NA]Status: DisposedITAT Delhi19 Mar 2021

Bench: Sh. K. N. Charydr. B. R. R. Kumar(Through Video Conferencing) Ita No. 4788/Del/2017 : Asstt. Year : Ita No. 4789/Del/2017 : Asstt. Year : Sat Kabir Sidhant Parchar Vs Cit(Exemptions) Trust, Vpo Kheri Dhamkan, Chandigarh Gohana, Sonepat, Haryana (Appellant) (Respondent) Pan No. Aaqts7275P Assessee By : Sh. Ved Jain, Adv. Revenue By : Ms. Aashna Paul, Cit Dr Date Of Hearing: 25.02.2021 Date Of Pronouncement: 19.03.2021

For Appellant: Sh. Ved Jain, AdvFor Respondent: Ms. Aashna Paul, CIT DR
Section 12ASection 2(15)Section 80G(5)(vi)

under section 12AA of the Act. 11. Admittedly, at the time of grant of registration the Commissioner is not empowered to examine the application of income but he has to examine whether the application is made in accordance with the requirements of section 12A of the Act and whether form ... also to satisfy himself about the genuineness of the activities of the trust or the institution. The Commissioner is not to examine the application of income at this juncture. The Hon'ble Supreme Court in CIT v. U.P. Forest Corpn. [1998] 230 ITR 945/97 Taxman 259 (SC), held that

Petronet Lng Ltd., New Delhi vs. Addl. CIT, New Delhi

Appeal of the assessee is allowed

ITA 5232/DEL/2015[2011-12]Status: DisposedITAT Delhi18 Mar 2021AY 2011-12

Bench: Sh. Sudhanshu Srivastavadr. B. R. R. Kumar(Through Video Conferencing) Ita No. 5230/Del/2015 : Asstt. Year : 2009-10 Ita No. 5231/Del/2015 : Asstt. Year : 2010-11 Ita No. 5232/Del/2015 : Asstt. Year : 2011-12 Petronet Lng Ltd., Vs Deputy Commissioner Of First Floor, World Trade Centre, Income Tax, Circle-19(2), Babar Road, Barakhamba Lane, New Delhi New Delhi-110001 (Appellant) (Respondent) Pan No. Aaacp8148D Ita No. 4902/Del/2015 : Asstt. Year : 2009-10 Ita No. 4903/Del/2015 : Asstt. Year : 2010-11 Ita No. 4904/Del/2015 : Asstt. Year : 2011-12 Deputy Commissioner Of Vs Petronet Lng Ltd., Income Tax, Circle-19(2), First Floor, World Trade Centre, New Delhi Babar Road, Barakhamba Lane, New Delhi-110001 (Appellant) (Respondent) Pan No. Aaacp8148D Assessee By : Sh. Vishal Kalra, Adv. Revenue By : Sh. H. K. Choudhary, Cit Dr Date Of Hearing: 27.01.2021 Date Of Pronouncement: 18.03.2021

For Appellant: Sh. Vishal Kalra, AdvFor Respondent: Sh. H. K. Choudhary, CIT DR
Section 14ASection 234C

assessee. 72. The ld. CIT (A) supported the order of the Assessing Officer holding that the Corporate Social Responsibility expenditure is an application of income. An application of income is not an allowable deduction for computing taxable income of any company. It was not incurred for the purpose of business ... genuineness of the claim of CSR expenditure and only the dispute is with regard to its allowability and the allegation that it is application of income. It was argued that the Explanation 2 to Section 37 was inserted w.e.f. 01.04.2015, hence not applicable to the instant assessment year. 76. Heard

Petronet Lng Ltd., New Delhi vs. Addl. CIT, New Delhi

Appeal of the assessee is allowed

ITA 5231/DEL/2015[2010-11]Status: DisposedITAT Delhi18 Mar 2021AY 2010-11

Bench: Sh. Sudhanshu Srivastavadr. B. R. R. Kumar(Through Video Conferencing) Ita No. 5230/Del/2015 : Asstt. Year : 2009-10 Ita No. 5231/Del/2015 : Asstt. Year : 2010-11 Ita No. 5232/Del/2015 : Asstt. Year : 2011-12 Petronet Lng Ltd., Vs Deputy Commissioner Of First Floor, World Trade Centre, Income Tax, Circle-19(2), Babar Road, Barakhamba Lane, New Delhi New Delhi-110001 (Appellant) (Respondent) Pan No. Aaacp8148D Ita No. 4902/Del/2015 : Asstt. Year : 2009-10 Ita No. 4903/Del/2015 : Asstt. Year : 2010-11 Ita No. 4904/Del/2015 : Asstt. Year : 2011-12 Deputy Commissioner Of Vs Petronet Lng Ltd., Income Tax, Circle-19(2), First Floor, World Trade Centre, New Delhi Babar Road, Barakhamba Lane, New Delhi-110001 (Appellant) (Respondent) Pan No. Aaacp8148D Assessee By : Sh. Vishal Kalra, Adv. Revenue By : Sh. H. K. Choudhary, Cit Dr Date Of Hearing: 27.01.2021 Date Of Pronouncement: 18.03.2021

For Appellant: Sh. Vishal Kalra, AdvFor Respondent: Sh. H. K. Choudhary, CIT DR
Section 14ASection 234C

assessee. 72. The ld. CIT (A) supported the order of the Assessing Officer holding that the Corporate Social Responsibility expenditure is an application of income. An application of income is not an allowable deduction for computing taxable income of any company. It was not incurred for the purpose of business ... genuineness of the claim of CSR expenditure and only the dispute is with regard to its allowability and the allegation that it is application of income. It was argued that the Explanation 2 to Section 37 was inserted w.e.f. 01.04.2015, hence not applicable to the instant assessment year. 76. Heard

Petronet Lng Ltd., New Delhi vs. Addl. CIT, New Delhi

Appeal of the assessee is allowed

ITA 5230/DEL/2015[2009-10]Status: DisposedITAT Delhi18 Mar 2021AY 2009-10

Bench: Sh. Sudhanshu Srivastavadr. B. R. R. Kumar(Through Video Conferencing) Ita No. 5230/Del/2015 : Asstt. Year : 2009-10 Ita No. 5231/Del/2015 : Asstt. Year : 2010-11 Ita No. 5232/Del/2015 : Asstt. Year : 2011-12 Petronet Lng Ltd., Vs Deputy Commissioner Of First Floor, World Trade Centre, Income Tax, Circle-19(2), Babar Road, Barakhamba Lane, New Delhi New Delhi-110001 (Appellant) (Respondent) Pan No. Aaacp8148D Ita No. 4902/Del/2015 : Asstt. Year : 2009-10 Ita No. 4903/Del/2015 : Asstt. Year : 2010-11 Ita No. 4904/Del/2015 : Asstt. Year : 2011-12 Deputy Commissioner Of Vs Petronet Lng Ltd., Income Tax, Circle-19(2), First Floor, World Trade Centre, New Delhi Babar Road, Barakhamba Lane, New Delhi-110001 (Appellant) (Respondent) Pan No. Aaacp8148D Assessee By : Sh. Vishal Kalra, Adv. Revenue By : Sh. H. K. Choudhary, Cit Dr Date Of Hearing: 27.01.2021 Date Of Pronouncement: 18.03.2021

For Appellant: Sh. Vishal Kalra, AdvFor Respondent: Sh. H. K. Choudhary, CIT DR
Section 14ASection 234C

assessee. 72. The ld. CIT (A) supported the order of the Assessing Officer holding that the Corporate Social Responsibility expenditure is an application of income. An application of income is not an allowable deduction for computing taxable income of any company. It was not incurred for the purpose of business ... genuineness of the claim of CSR expenditure and only the dispute is with regard to its allowability and the allegation that it is application of income. It was argued that the Explanation 2 to Section 37 was inserted w.e.f. 01.04.2015, hence not applicable to the instant assessment year. 76. Heard

DCIT, New Delhi vs. M/S. Petronet Lng Ltd., New Delhi

Appeal of the assessee is allowed

ITA 4904/DEL/2015[2011-12]Status: DisposedITAT Delhi18 Mar 2021AY 2011-12

Bench: Sh. Sudhanshu Srivastavadr. B. R. R. Kumar(Through Video Conferencing) Ita No. 5230/Del/2015 : Asstt. Year : 2009-10 Ita No. 5231/Del/2015 : Asstt. Year : 2010-11 Ita No. 5232/Del/2015 : Asstt. Year : 2011-12 Petronet Lng Ltd., Vs Deputy Commissioner Of First Floor, World Trade Centre, Income Tax, Circle-19(2), Babar Road, Barakhamba Lane, New Delhi New Delhi-110001 (Appellant) (Respondent) Pan No. Aaacp8148D Ita No. 4902/Del/2015 : Asstt. Year : 2009-10 Ita No. 4903/Del/2015 : Asstt. Year : 2010-11 Ita No. 4904/Del/2015 : Asstt. Year : 2011-12 Deputy Commissioner Of Vs Petronet Lng Ltd., Income Tax, Circle-19(2), First Floor, World Trade Centre, New Delhi Babar Road, Barakhamba Lane, New Delhi-110001 (Appellant) (Respondent) Pan No. Aaacp8148D Assessee By : Sh. Vishal Kalra, Adv. Revenue By : Sh. H. K. Choudhary, Cit Dr Date Of Hearing: 27.01.2021 Date Of Pronouncement: 18.03.2021

For Appellant: Sh. Vishal Kalra, AdvFor Respondent: Sh. H. K. Choudhary, CIT DR
Section 14ASection 234C

assessee. 72. The ld. CIT (A) supported the order of the Assessing Officer holding that the Corporate Social Responsibility expenditure is an application of income. An application of income is not an allowable deduction for computing taxable income of any company. It was not incurred for the purpose of business ... genuineness of the claim of CSR expenditure and only the dispute is with regard to its allowability and the allegation that it is application of income. It was argued that the Explanation 2 to Section 37 was inserted w.e.f. 01.04.2015, hence not applicable to the instant assessment year. 76. Heard

DCIT, New Delhi vs. M/S. Petronet Lng Ltd., New Delhi

Appeal of the assessee is allowed

ITA 4903/DEL/2015[2010-11]Status: DisposedITAT Delhi18 Mar 2021AY 2010-11

Bench: Sh. Sudhanshu Srivastavadr. B. R. R. Kumar(Through Video Conferencing) Ita No. 5230/Del/2015 : Asstt. Year : 2009-10 Ita No. 5231/Del/2015 : Asstt. Year : 2010-11 Ita No. 5232/Del/2015 : Asstt. Year : 2011-12 Petronet Lng Ltd., Vs Deputy Commissioner Of First Floor, World Trade Centre, Income Tax, Circle-19(2), Babar Road, Barakhamba Lane, New Delhi New Delhi-110001 (Appellant) (Respondent) Pan No. Aaacp8148D Ita No. 4902/Del/2015 : Asstt. Year : 2009-10 Ita No. 4903/Del/2015 : Asstt. Year : 2010-11 Ita No. 4904/Del/2015 : Asstt. Year : 2011-12 Deputy Commissioner Of Vs Petronet Lng Ltd., Income Tax, Circle-19(2), First Floor, World Trade Centre, New Delhi Babar Road, Barakhamba Lane, New Delhi-110001 (Appellant) (Respondent) Pan No. Aaacp8148D Assessee By : Sh. Vishal Kalra, Adv. Revenue By : Sh. H. K. Choudhary, Cit Dr Date Of Hearing: 27.01.2021 Date Of Pronouncement: 18.03.2021

For Appellant: Sh. Vishal Kalra, AdvFor Respondent: Sh. H. K. Choudhary, CIT DR
Section 14ASection 234C

assessee. 72. The ld. CIT (A) supported the order of the Assessing Officer holding that the Corporate Social Responsibility expenditure is an application of income. An application of income is not an allowable deduction for computing taxable income of any company. It was not incurred for the purpose of business ... genuineness of the claim of CSR expenditure and only the dispute is with regard to its allowability and the allegation that it is application of income. It was argued that the Explanation 2 to Section 37 was inserted w.e.f. 01.04.2015, hence not applicable to the instant assessment year. 76. Heard

DCIT, New Delhi vs. M/S. Petronet Lng Ltd., New Delhi

Appeal of the assessee is allowed

ITA 4902/DEL/2015[2009-10]Status: DisposedITAT Delhi18 Mar 2021AY 2009-10

Bench: Sh. Sudhanshu Srivastavadr. B. R. R. Kumar(Through Video Conferencing) Ita No. 5230/Del/2015 : Asstt. Year : 2009-10 Ita No. 5231/Del/2015 : Asstt. Year : 2010-11 Ita No. 5232/Del/2015 : Asstt. Year : 2011-12 Petronet Lng Ltd., Vs Deputy Commissioner Of First Floor, World Trade Centre, Income Tax, Circle-19(2), Babar Road, Barakhamba Lane, New Delhi New Delhi-110001 (Appellant) (Respondent) Pan No. Aaacp8148D Ita No. 4902/Del/2015 : Asstt. Year : 2009-10 Ita No. 4903/Del/2015 : Asstt. Year : 2010-11 Ita No. 4904/Del/2015 : Asstt. Year : 2011-12 Deputy Commissioner Of Vs Petronet Lng Ltd., Income Tax, Circle-19(2), First Floor, World Trade Centre, New Delhi Babar Road, Barakhamba Lane, New Delhi-110001 (Appellant) (Respondent) Pan No. Aaacp8148D Assessee By : Sh. Vishal Kalra, Adv. Revenue By : Sh. H. K. Choudhary, Cit Dr Date Of Hearing: 27.01.2021 Date Of Pronouncement: 18.03.2021

For Appellant: Sh. Vishal Kalra, AdvFor Respondent: Sh. H. K. Choudhary, CIT DR
Section 14ASection 234C

assessee. 72. The ld. CIT (A) supported the order of the Assessing Officer holding that the Corporate Social Responsibility expenditure is an application of income. An application of income is not an allowable deduction for computing taxable income of any company. It was not incurred for the purpose of business ... genuineness of the claim of CSR expenditure and only the dispute is with regard to its allowability and the allegation that it is application of income. It was argued that the Explanation 2 to Section 37 was inserted w.e.f. 01.04.2015, hence not applicable to the instant assessment year. 76. Heard

DCIT, Exemption Circle, Ghaziabad vs. Bharat Sushamachar Samiti, Dehradun

ITA 5317/DEL/2017[2012-13]Status: DisposedITAT Delhi15 Mar 2021AY 2012-13

Bench: Shri Amit Shukla & Shri Prashant Maharishidcit, M/S. Bharat Sushamachar Samiti, P. O. Kulhan, Vs. Exemption Circle, Sahastradhara Road, Dehradun. Ghaziabad. Pan: Aaabb0034D (Appellant) (Respondent)

For Appellant: Shri George Koshi, C.AFor Respondent: Shri Sat Pal Gulati [CIT] – DR
Section 11Section 12ASection 143(3)Section 2(15)

expenses were made for the sole benefit of the Christian community. 6.1 The only issue that remains to be resolved is whether the application of income towards funding the activities of the NTC qualifies as education within the meaning of section 2(15) of the I.T. Act, 1961 or whether ... amounts to application of income for the benefit of particular religious community. As already pointed out, The New Theological College or the NTC is affiliated to Senate of Serampore College (University), which is a University recognized u/s 2(f) of the UGC Act, 1956. It is conferring formal degrees

ACIT(E)- Circle- 1(1), New Delhi vs. India Habitat Centre, New Delhi

In the result, appeal of Revenue dismissed

ITA 5779/DEL/2017[2014-15]Status: DisposedITAT Delhi01 Feb 2021AY 2014-15

Bench: Shri Bhavnesh Saini & Shri B.R.R. Kumar

For Appellant: Shri M.P. Rastogi, AdvocateFor Respondent: Shri Prakash Dubey, Sr. DR
Section 11Section 12ASection 2(15)Section 80G(5)(vi)

rival submissions and do not find any merit in the Departmental appeal. The assessee-society has explained its aims and objects and application of income towards the object. It is not in dispute that assessee-society is a registered society under section 12A of Income Tax Act, 1961 which

DCIT (Exemption), New Delhi vs. The Delhi Public School Society, New Delhi

In the result, this appeal is dismissed

ITA 6084/DEL/2016[2011-12]Status: DisposedITAT Delhi28 Jan 2021AY 2011-12

Bench: Shri Sudhanshu Srivastava & Shri Anadee Nath Misshrady. Cit (Exemptions) The Delhi Public School Circle-2(1), Society, New Delhi. F-Block, East Of Kailash, Vs. New Delhi-110065. Pan –Aaatt 0740J (Appellant) (Respondent)

Section 11Section 12ASection 2Section 4ASection 70

same against income of subsequent years - Held, yes - Whether adjustment of deficit of current year against income of subsequent year would amount to application of income of trust for charitable purposes in subsequent year within meaning of section 11(1 )(a) - Held, yes." 18. In view of the aforesaid exposition ... that in the case of charitable institution registered under section 12A, even though expenditure incurred for acquisition of capital assets was treated as application of income for charitable purposes under section 11(1)(a), yet depreciation would be allowed on assets so purchased. (B.2.2) In the case