THE ASST.COMMISSIONER OF INCOME TAX - (EXEMPTIONS ) CIRCLE - 1, MANGALURU vs. M/S A. SHAMA RAO FOUNDATION, MANGALURU
In the result, appeal of the Revenue is dismissed
ITA 1464/BANG/2018[2015-16]Status: DisposedITAT Bangalore03 Dec 2020AY 2015-16
Bench: Shri Chandra Poojari, Am & Smt. Beena Pillai, Jm I.T.A. No.1464/Bang/2018 Assessment Year : 2015-16 The Assistant Commissioner Of Vs. M/S. A. Shama Rao Foundation, Income-Tax (Exemptions), Circle- 13-2-116, Hotel Srinivas Building, 1, Mangaluru G.H.S. Road, Mangaluru-575 001. [Pan:Aaata 1629 B] (Revenue-Appellant) (Assessee -Respondent) Revenue By Shri Pradeep Kumar, Cit(Dr) Assessee By Shri V. Srinivasan, Adv. Date Of Hearing 09/11/2020 Date Of Pronouncement 03/12/2020 O R D E R
Section 11(1)(d)Section 12A
section 56(2) of the Act which governs
I.T.A. No.1464/Bang/2018
the taxing of certain gifts despite its capital nature. In the said order, the Tribunal considered various decisions viz., the decision of Delhi Bench of the Tribunal in the case of ITO (Exemptions) Vs. Smt. Basantidevi & Shri Chakhan Lal Garg
Education Trust – ITA No.5082/Delhi/2010 order dated