NIIT FOUNDATION,NEW DELHI vs. CIT(E), NEW DELHI

In the result, the appeal of the assessee is allowed

Bench: Shri Prashant Maharishi & Shri K.N.Charyniit Foundation, Vs. Cit(E), Plot No. 8, Balaji Estate, New Delhi Sudarshan Munjal Marg, Kalkaji, New Delhi Pan: Aacan3951E (Appellant) (Respondent)

12A of the Income Tax Act, 1961 vide order No. DIT(E)/l2A/2005-06/N-845/1616 dated 30.03.2006. The assessee society is notified u/s 80G (5)(vi) of the Income Tax Act, 1961 vide order no. DlT(E)/2007-08/N- 845/136 dated 07.03.2008. As per the assessee, it is a society registered on 01st December 2004 under the Societies Registration Act, 1860 with

ACIT, GURGAON vs. M/S. THE SCIENTIFIC & EDUCATIONAL ADVANCEMENT SOCIETY, GURGAON

In the result, Appeal of the Assessee is allowed

Bench: Shri Bhavnesh Saini, J.M. & Shri L.P. Sahu, A.M.

capital assets namely Aravalli Farm Houses, Gopalpur lands, Lohari lands were not actually used for educational/ charitable purposes in the year under appeal and thus, such investment is hit by Section 11(1B) and alternatively by Section 11(3) of the I.T. Act. The assessee-society was holding 24 ITA.No.4944 & 4430/Del./2012 The Scientific and Educational Advancement Society, Gurgaon

M/S. SCIENTIFIC AND EDUCATIONAL ADVANCEMENT SOCIETY,NEW DELHI vs. ITO, GURGAON

In the result, Appeal of the Assessee is allowed

Bench: Shri Bhavnesh Saini, J.M. & Shri L.P. Sahu, A.M.

capital assets namely Aravalli Farm Houses, Gopalpur lands, Lohari lands were not actually used for educational/ charitable purposes in the year under appeal and thus, such investment is hit by Section 11(1B) and alternatively by Section 11(3) of the I.T. Act. The assessee-society was holding 24 ITA.No.4944 & 4430/Del./2012 The Scientific and Educational Advancement Society, Gurgaon

M/S. MUSSOORIE DEHRADUN DEVELOPMENT AUTHORITY,DEHRADUN vs. CIT, DEHRADUN

In the result we dismiss the appeal of the assessee

Bench: Shri S.K. Yadav & Shri Prashant Maharishiassessment Year:

12A of the Act. 8. The appellant applied for exemption under Section 12AA on 05.05.2010 before the CIT, Dehradun, but the said application was rejected by the Ld. CIT by order dated 26.11.2010. Against the order of rejection, the Appellant Authority filed appeal no. 271/Del-2011 before this Hon'ble Tribunal. Vide order dated 14.07.2011, this Hon'ble Tribunal set aside

DCIT, NEW DELHI vs. SH. KRISHNA SHRIRAM, NEW DELHI

In the result, both the appeals of the assessee and Revenue are dismissed

Bench: : Shri Amit Shukla & Shri L.P. Sahuassessment Year: 2006-07

capital gain or business income. The circulars cited by the AR are applicable in the present case. In view of the above, the ld. CIT(A) has rightly deleted the addition made by the AO. Therefore, the appeal of the Revenue is dismissed. 14. Further in regard to the gift received by the assessee of Rs.7.92 crores, the findings reached

SHRI KRISHNA SHRIRAM,NEW DELHI vs. ACIT, NEW DELHI

In the result, both the appeals of the assessee and Revenue are dismissed

Bench: : Shri Amit Shukla & Shri L.P. Sahuassessment Year: 2006-07

capital gain or business income. The circulars cited by the AR are applicable in the present case. In view of the above, the ld. CIT(A) has rightly deleted the addition made by the AO. Therefore, the appeal of the Revenue is dismissed. 14. Further in regard to the gift received by the assessee of Rs.7.92 crores, the findings reached

ARYA SMAJ MODEL TOWN,DELHI vs. PCIT, CENTRAL -3, NEW DELHI

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

gains of\nbusiness which is not incidental to the attainment of its objectives or\nseparate books of account are not maintained by such trust or\ninstitution in respect of the business which is incidental to the\nattainment of its objectives; or\n\n(c) The trust or institution has applied any part of its income from\nthe property held under

M/S. THE FERTILIZER ASSOCIATION OF INDIA,NEW DELHI vs. DDIT(E), NEW DELHI

In the result, the appeal of the Assessee is allowed

Bench: Shri H.S. Sidhu & Shri L.P. Sahu

12A on 22.06.1994 and has been receiving the said exemptions since then. The registration of the assessee has not been cancelled under section 12AA (3) of the Act. 7.1 To decide the issue in dispute, we can gainfully refer here the objects of the assessee company, which read as under:- i. To unite all firms, companies, corporation, associations and Individuals

M/S. GREATER NOIDA INDUSTRIAL DEVELOPMENT AUTHORITY,UTTAR PRADESH vs. CIT (E), LUCKNOW

The appeal is allowed

Bench: Shri I.C. Sudhir & Shri L.P. Sahu Assessment Year: -- Greater Noida Industrial Development Vs. Cit(E), Authority, H-169, Chitvan Estate, Lucknow. Sector-Gamma, Gr. Noida City, District – Gautam Budh Nagar. Uttar Pradesh. (Pan: Aaalg0129L) (Appellant) (Respondent) Assessment Year: - - Yamuna Expressway Industrial Development Vs. Cit(E), Authority, First Floor, Commercial Complex, Lucknow. P-2, Sector-Omega 1, Greater Noida Gautam Budh Nagar, Uttar Pradesh. (Pan: Aaalt0341D) Assessee By: S/Shri Balbir Singh & Abhinav Mehrotra, Adv., Sk Gupta & Ms. Raj Rani, Cas. Department By: Shri Sandeep Kumar, Cit( Dr) Date Of Hearing : 02 .03.2016 Date Of Pronouncement: 18 :05.2016 Order Per I.C. Sudhir:

capital gain, income from other sources or from business or trade carried on by the authority in respect of a previous year.” After the amendment, the Explanation defines ‘Local Authority’ to include only the authorities mentioned in the Explanation which only include Panchayat, District Board, Municipal Committee and Cantonment Board with effect from 01.04.2003. The learned CIT(E) also observed

DCIT (E), NEW DELHI vs. ERNET INDIA, NEW DELHI

In the result, the appeal of the Revenue is dismissed

Bench: Shri Amit Shukla & Shri B.R.R. Kumar

12A, 12AA & 13 and these provisions are independent code in itself in Chapter III of the Income Tax Act, 1961. The income and expenditure is computed on the basis of the entire expenditure including the capital expenditure for purchase of capital asset u/s. 11(1).” 2. At the outset, ld. counsel for the assessee submitted that in the appeal

DCIT, CENTRAL CIRCLE-25, NEW DELHI vs. MAHAVEER TRANSMISSION LTD, NEW DELHI

In the result, the all appeals of the assessee are allowed and all the appeals of the Revenue are dismissed

Bench: Dr. B. R. R. Kumar, Sh. Sudhir Kumar

12A or section 12AA; or (VIII) by any fund or trust or institution or any university or other educational institution or any hospital or other medical institution referred to in sub-clause (iv) or sub-clause (v) or sub-clause (vi) or sub-clause (via) of clause (23C) of section 10; or (IX) by way of transaction not regarded

MAHAVIR TRANSMISSIN LTD ,NEW DELHI vs. DCIT, CENTRAL CIRCLE-25 , NEW DELHI

In the result, the all appeals of the assessee are allowed and all the appeals of the Revenue are dismissed

Bench: Dr. B. R. R. Kumar, Sh. Sudhir Kumar

12A or section 12AA; or (VIII) by any fund or trust or institution or any university or other educational institution or any hospital or other medical institution referred to in sub-clause (iv) or sub-clause (v) or sub-clause (vi) or sub-clause (via) of clause (23C) of section 10; or (IX) by way of transaction not regarded

MAHAVIR TRANSMISSION LTD,NEW DELHI vs. DCIT, CENTRAL CIRCLE-25, NEW DELHI

In the result, the all appeals of the assessee are allowed and all the appeals of the Revenue are dismissed

Bench: Dr. B. R. R. Kumar, Sh. Sudhir Kumar

12A or section 12AA; or (VIII) by any fund or trust or institution or any university or other educational institution or any hospital or other medical institution referred to in sub-clause (iv) or sub-clause (v) or sub-clause (vi) or sub-clause (via) of clause (23C) of section 10; or (IX) by way of transaction not regarded

MAHAVIR TRANSMISSION LTD,NEW DELHI vs. DCIT, CENTRAL CIRCLE-25, NEW DELHI

In the result, the all appeals of the assessee are allowed and all the appeals of the Revenue are dismissed

Bench: Dr. B. R. R. Kumar, Sh. Sudhir Kumar

12A or section 12AA; or (VIII) by any fund or trust or institution or any university or other educational institution or any hospital or other medical institution referred to in sub-clause (iv) or sub-clause (v) or sub-clause (vi) or sub-clause (via) of clause (23C) of section 10; or (IX) by way of transaction not regarded

MAHAVIR TRANSMISSION LTD,NEW DELHI vs. DCIT, CENTRAL CORCLE-25, NEW DELHI

In the result, the all appeals of the assessee are allowed and all the appeals of the Revenue are dismissed

Bench: Dr. B. R. R. Kumar, Sh. Sudhir Kumar

12A or section 12AA; or (VIII) by any fund or trust or institution or any university or other educational institution or any hospital or other medical institution referred to in sub-clause (iv) or sub-clause (v) or sub-clause (vi) or sub-clause (via) of clause (23C) of section 10; or (IX) by way of transaction not regarded

DCIT, CENTRAL CIRCLE-25, NEW DELHI vs. MAHAVEER TRANSMISSION LTD, NEW DELHI

In the result, the all appeals of the assessee are allowed and all the appeals of the Revenue are dismissed

Bench: Dr. B. R. R. Kumar, Sh. Sudhir Kumar

12A or section 12AA; or (VIII) by any fund or trust or institution or any university or other educational institution or any hospital or other medical institution referred to in sub-clause (iv) or sub-clause (v) or sub-clause (vi) or sub-clause (via) of clause (23C) of section 10; or (IX) by way of transaction not regarded

DCIT, CENTRAL CIRCLE-25, NEW DELHI vs. MAHAVEER TRANSMISSION LTD., NEW DELHI

In the result, the all appeals of the assessee are allowed and all the appeals of the Revenue are dismissed

Bench: Dr. B. R. R. Kumar, Sh. Sudhir Kumar

12A or section 12AA; or (VIII) by any fund or trust or institution or any university or other educational institution or any hospital or other medical institution referred to in sub-clause (iv) or sub-clause (v) or sub-clause (vi) or sub-clause (via) of clause (23C) of section 10; or (IX) by way of transaction not regarded

ANJUL BANSAL,DELHI vs. ITO, WARD- 46(4), NEW DELHI

In the result, all the 03 appeals of the assessees are partly allowed

Bench: Shri H.S. Sidhuay: 2015-16 Amitabh Bansal, Vs. Ito, Ward 46(4), C/O Kapil Goel, Advocate, New Delhi F-26/124, Sector-7, Rohini, Delhi (Pan: Actpb6786D) (Appellant) (Respondent) Ay: 2015-16 Anjul Bansal, Vs. Ito, Ward 46(4), C/O Kapil Goel, Advocate, New Delhi F-26/124, Sector-7, Rohini, Delhi (Pan: Allpb6364J) (Appellant) (Respondent) Ay: 2015-16 Daya Bansal, Vs. Ito, Ward 48(1), C/O Kapil Goel, Advocate, New Delhi F-26/124, Sector-7, Rohini, Delhi (Pan: Aalpb6363R) (Appellant) (Respondent) Assessee By : Sh. Kapil Goel, Adv. Revenue By : Sh. S.L. Anuragi, Sr. Dr.

capital company as referred to in clause (23FB) of section 10.” 6.1 If objectively and dispassionately section 68 of the Act is dissected following would be key ingredients of the same: 6.1.1 Firstly is requires that “Where any sum is found credited in the books of an assessee maintained for any previous year” that is there is a “sum” found