SHRIRAM OWNERSHIP TRUST,CHENNAI vs. DCIT, CHENNAI
In the result, the appeals of the assessee for both
ITA 407/CHNY/2017[2014-15]Status: DisposedITAT Chennai05 May 2017AY 2014-15
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)
charitable purpose.
22. What we find is that ld. Commissioner of Income Tax
(Appeals) had confirmed the addition u/s. 2(24)(xv) of the Act r.w.s.
56(2)(vii) of the Act. Both these Sections are reproduced hereunder:-
Sec. 2(24)
‘’income includes---
(i)................
(ii)..........................
(xv) any sum of money or value of property referred to in clause
