SHRIRAM OWNERSHIP TRUST,CHENNAI vs. DCIT, CHENNAI
In the result, the appeals of the assessee for both
ITA 406/CHNY/2017[2013-14]Status: DisposedITAT Chennai05 May 2017AY 2013-14
Bench: Shri N.R.S. Ganesan & Shri Abraham P. George] आयकर अपील सं./I.T.A. Nos. 406 & 407/Mds/2017 "नधा"रण वष" /Assessment Years : 2013-2014 & 2014-2015. Shriram Ownership Trust, Vs. The Deputy Commissioner Of No.4, Shriram House, I Floor, Income Tax, Burkit Road, T. Nagar, Non Corporate Circle 2, Chennai 600 017. Chennai 600 034. [Pan Aagts 2243H] (अपीलाथ"/Appellant) (""यथ"/Respondent)
For Appellant: Shri. R. Sivaraman, AdvocateFor Respondent: Shri. Shaji P. Jacob, IRS, Addl. CIT
Section 144ASection 14ASection 160(1)Section 161(1)Section 2(31)Section 56Section 56(1)Section 56(2)Section 56(2)(vii)
section.
However, ld. JCIT was not impressed by any of the above
5. arguments taken by the assessee. According to him, Explanation to
Sec. 2(31) of the Act, introduced by Finance Act, 2002, was only to
bring within the ambit of taxation, religious and/ or charitable trusts
ITA Nos.406 & 407/Mds/2017
:- 5 -:
which lost exemption
