M/S. VIJAYANAGAR EDUCATIONAL TRUST,BENGALURU vs. THE COMMISSIONER OF INCOME TAX (EXEMPTION), BENGALURU

In the result appeal of the assessee is allowed

Bench: Shri Prashant Maharishi & Shri Soundararajan K.Assessment Year: 2019-20

charitable trusts. 40. On careful consideration of the whole issue, it is apparent that the statements were recorded of the one of trustees of the assessee who admitted of the income of Rs 5.87 Crores and Trust also deposited RS 1 Crore as Tax on that disclosure. The issues are whether based on such disclosure in the facts

M/S. RUKMINI EDUCATIONAL CHARITABLE TRUST ,BENGALURU vs. PRINCIPAL COMMISSIONER OF INCOME TAX, CENTRAL , BENGALURU

40,37,713/- 30,01,23,000/-\n145,41,60,713/-\nTotal funds transferred from charitable trust, RECT to\ntrustees (Amount in Rs.)\n145,41,60,713/-\n3.15 However, the trustees have neither returned the amount, nor transferred the property in the\nname of the Trust, which indicates that there is no intention to transfer these lands to the Trust

ASSISTANT COMMISSIONER OF INCOME TAX, BENGALURU vs. CMR JNANADHARA TRUST, BENGALURU

In the result, the appeal filed by the revenue is hereby dismissed

Bench: Shri George George K & Shri Waseem Ahmed

40,04,850 Services (CECS) M/s Jaista Developers & 5,60,91,232 Constructions (P) Ltd (JDCPL) 6. The Assessing Officer (AO), after examining the terms and conditions governing the transactions between the assessee and the specified persons, made certain observations, which are detailed as under: 1) The trust was reimbursing all expenditures incurred by the specified entities, including those related

ASSISTANT COMMISSIONER OF INCOME TAX, BENGALURU vs. CMR JNANADHARA TRUST, BENGALURU

In the result, the appeal filed by the revenue is hereby dismissed

Bench: Shri George George K & Shri Waseem Ahmed

40,04,850 Services (CECS) M/s Jaista Developers & 5,60,91,232 Constructions (P) Ltd (JDCPL) 6. The Assessing Officer (AO), after examining the terms and conditions governing the transactions between the assessee and the specified persons, made certain observations, which are detailed as under: 1) The trust was reimbursing all expenditures incurred by the specified entities, including those related

SHRI HINGULAMBIKA EDUCATION SOCIETY,GULBARGA vs. ITO (EXEMPTIONS), WARD-1, KALBURGI

In the result, appeal of the assessee is allowed

Bench: Shri Chandra Poojari & Smt. Beena Pillaiassessment Year: 2020-21

40 of 42 and second proviso to section 143(1) of the Act, is indeed permissible. It is further, important to take note of the fact that unlike the old scheme of “prima facie adjustments” u/s 143(1)(a) of the Act, the scheme of present section 143(1) of the Act does not involve a unilateral exercise. The very

SANGHAMITRA RURAL FINANCIAL SERVICES,BANGALORE vs. ASSISTANT COMMISSIONER OF INCOME TAX, EXEMPTIONS CIRCLE-1, BANGALORE

In the result, appeals of the assessee are dismissed

Bench: Shri Chandra Poojari & Smt. Madhumita Roy

40 DTR 153 (Visakha-Trib.) which held that micro finance activity is a charitable activity as it alleviates poverty and also benefits socio-economically weaker sections of the society. The Hon'ble Tribunal held that the Micro finance activity was charitable in nature because of the following reasons: (i) The loan is advanced to weaker sections of the society

DHWANI SHRISTI FOUNDATION,BANGALORE vs. COMMISSIONER OF INCOME TAX(EXEMPTIONS, BENGALURU

In the result, appeal filed by the assessee in ITA

Bench: Shri Laxmi Prasad Sahu & Shri Keshav Dubey

sections of the society which are covered u/s 2(15) of the Act. The provisional registration was granted in Form 10AC on 21.7.2023 i.e. within one month of its formation and was applicable from assessment year 2024-25 till 2026-27. Thereafter, assessee trust applied for the final registration u/s 12A (1)(ac)(iii) of the Act by filing form

DHWANI SHRISTI FOUNDATION ,BAGANALORE vs. COMMISSIONER OF INCOME TAX(EXEMPTIONS) , BANGALORE

In the result, appeal filed by the assessee in ITA

Bench: Shri Laxmi Prasad Sahu & Shri Keshav Dubey

sections of the society which are covered u/s 2(15) of the Act. The provisional registration was granted in Form 10AC on 21.7.2023 i.e. within one month of its formation and was applicable from assessment year 2024-25 till 2026-27. Thereafter, assessee trust applied for the final registration u/s 12A (1)(ac)(iii) of the Act by filing form

M/S. RAYA NAIK MEMORIAL GOWSHALA TRUST,KAJUBAG KARWAR vs. COMMISSIONER OF INCOME TAX (EXEMPTIONS) BANGALORE, UNITY BUILDING ANNEXE, MISSION ROAD, BANGALORE

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

Bench: Shri Waseem Ahmed & Shri Soundararajan Kassessment Year: ---

charitable activities. It is also pertinent to note that the assessee for the A.Y. 2024-25 has accumulated an amount of Rs. 40 Lakh which constitute 81.55 % of income or receipt towards setting up "free training facility centre for skill development for poor and needy" which strengthened the above view. 10.5 In our considered opinion

SANGHAMITRA RURAL FINANCIAL SERVICES,BANGALORE vs. ASSISTANT COMMISSIONER OF INCOME TAX, EXEMPTIONS CIRCLE-1, BANGALORE

In the result, appeals of the assessee are dismissed

40 DTR 153 (Visakha-Trib.) which\nheld that micro finance activity is a charitable activity as it\nalleviates poverty and also benefits socio-economically weaker\nsections of the society. The Hon'ble Tribunal held that the Micro\nfinance activity was charitable in nature because of the following\nreasons:\n(i) The loan is advanced to weaker sections of the society

M/S. RUKMINI EDUCATIONAL CHARITABLE TRUST,BENGALURU vs. PRINCIPAL COMMISSIONER OF INCOME TAX, CENTRAL, BENGALURU

Bench: Shri Prashant Maharishi & Shri Soundararajan K.

charitable trust fund for the purchase of property in the name of trustees of huge amount of approx. Rs.115 crores by the then trustees for purchase of property in their own name by utilising the fund of the trust. During the search statement of Mr. M. Vasu, who is the DGM (Finance) confirmed that the property was purchased

WEVYSYA ,BENGALURU vs. CIT(EXEMPTIONS), BENGALURU

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

Bench: Shri Waseem Ahmed & Shri Soundararajan K

section 12A - Held, yes” 10.4 Coming to the facts of the present case, the assessee has placed before the authorities, the trust deed evidencing its charitable objectives. There is no material brought on record by the ld. CIT(E) suggesting that the objectives are non-charitable or that the activities undertaken are not genuine. The allegation regarding cash withdrawals

WEVYSYA ,BENGALURU vs. CIT(EXEMPTIONS), BENGALURU

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

Bench: Shri Waseem Ahmed & Shri Soundararajan K

section 12A - Held, yes” 10.4 Coming to the facts of the present case, the assessee has placed before the authorities, the trust deed evidencing its charitable objectives. There is no material brought on record by the ld. CIT(E) suggesting that the objectives are non-charitable or that the activities undertaken are not genuine. The allegation regarding cash withdrawals

INDEPENDENT AND PUBLIC SPIRITED MEDIA FOUNDATION ,BENGALURU vs. PRINCIPAL COMMISSIONER OF INCOME-TAX, (CENTRAL), BENGALURU

In the result appeal of the assessee is dismissed

Bench: Shri Prashant Maharishi & Shri Keshav Dubeyassessment Year : Na

section of society thus supporting publicization of polarised contents. iv. assessee trust had been providing grants to organisations which are engaged in the business for profit in the garb of professional fees without receiving any professional services rendered by them and further the service agreements entered by the assessee trust with such entities shows that those agreement does not contain

M/S. ISLAMIC ACADEMY OF EDUCATION,MANGALORE vs. PRINCIPAL COMMISSIONER OF INCOME TAX(CENTRAL), BANGALORE

In the result, appeal filed by the assessee is partly\nallowed

charitable purpose created or\nestablished after the commencement of this Act, has applied any part of its\nincome for the benefit of any particular religious community or caste; or\ne) Any activity being carried out by the trust or institution—\n(i) is not genuine, or\n(ii) is not being carried out in accordance with

M/S. NAVODAYA GRAMA VIKAS CHARITABLE TRUST,MANGALURU vs. DEPUTY COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE-1, BANGALORE

In the result, the appeal filed by assessee stands allowed

Bench: Shri. Chandra Poojari & Smt. Beena Pillaiassessment Year : 2017-18 M/S. Navodaya Grama Vikas Charitable Trust, The Deputy #14-7-1005, Scdcc Commissioner Of Bank Ltd., Income Tax, Head Office Building, Central Circle – 1, Kodialbail, Vs. Mangaluru. Mangaluru – 575 003. Pan: Aaatn7594E Appellant Respondent : Shri V. Srinivasan, Advocate & Assessee By Ms. Sunaina Bhatia, Ca Revenue By : Shri D.K. Mishra, Cit Dr Date Of Hearing : 07-07-2023 Date Of Pronouncement : 31-08-2023 Order Per Beena Pillaipresent Appeal Is Filed By Assessee Against The Order Dated 07.03.2022 Passed By Ld.Cit(A)-2, Panaji For A.Y. 2017-18 On Following Grounds Of Appeal: “1. The Orders Of The Authorities Below In So Far As They Are Against The Appellant Are Opposed To Law. Equity, Weight Of Evidence. Probabilities, Facts & Circumstances Of The Case. 2. The Learned Cit [A] Is Not Justified In Upholding The Disallowance Of The Exemption Claimed U/S.11 Of The Act

40 DTR 153 has dealt with this issue. Hon’ble Visakhapatnam Bench while addressing identical issue held as under: “Assessee borrowing money from banks and providing loans to poor women for their poverty alleviation can be said to be encouraged in Charitable activities entitled for exemption u/s 11 of the Act.” While holding so, it has placed reliance

M/S. ADARSH VIDYA KENDRA TRUST,BENGALURU vs. THE PR. COMMISSIONER OF INCOME TAX, CENTRAL , BANGALORE

In the result, appeals of the assessee are allowed

charitable purpose created or\nestablished after the commencement of this Act, has applied any part of its\nincome for the benefit of any particular religious community or caste; or\ne) Any activity being carried out by the trust or institution—\n(i) is not genuine, or\n(ii) is not being carried out in accordance with

M/S. SRI. SRINIVASA EDUCATIONAL & CHARITABLE TRUST,BANGALORE vs. DEPUTY COMMISSIONER OF INCOME-TAX, CENTRAL CIRCLE-2(3), BANGALORE

In the result, the appeal of the assessee is allowed

Bench: Shri Waseem Ahmed & Shri Soundararajan Kassessment Years : 2021-22

trust or institution as are material for the purpose of achieving its objectives as mentioned in section 12AB(1)(b)(ii)(B) of the Act. However, in the present case, the ld. PCIT invoked the provisions of section 12AB(4)(a)(ii) of the Act as stood in the assessment year 2022-23. The objection