THE DIRECTOR OF INCOME TAX vs. M/S. KRUPANIDHI EDUCATION

Bench: S.SUJATHA,VINEET KOTHARI

section 11(1).” 13. In CIT v. Trustee of H.E.H. The Nizam’s Supplemental Religious Date of Judgment 14-08-2018 I.T.A.No.306/2015 The Director of Income Tax (Exemption) Vs. M/s Krupanidhi Education Trust 20/23 Endowment Trust (1981) 127 ITR 378, the Andhra Pradesh High Court has accepted the accounts maintained in respect of the trust in conformity with

COMMISISONER OF INCOME TAX vs. OHIO UNIVERSITY CHRIST COLLEGE

Bench: S.SUJATHA,VINEET KOTHARI

charitable institutions, then there is no way to preserve the corpus of the trust for deriving the income. The Board also appears to have understood the `income’ under section 11(1) in its commercial sense. The relevant portion of the Circular No.5XX- 6 of 1968, dated 19-6-1968 (See Taxmann’s Direct Taxes Circulars, Vol. 1, 1980 edn. P.85

COMMISIONER OF INCOME TAX (EXEMPTIONS) vs. MANIPAL HOTEL & RESTAURANT

Bench: S.SUJATHA,VINEET KOTHARI

264 ITR 110, wherein the Division Bench of Bombay High Court held that the income derived from the trust property has also got to be computed on commercial principles and if commercial principles are applied, then adjustment of expenses incurred by the trust for charitable and religious purposes in the earlier years against the income earned by the trust

PR. COMMISSIONER OF INCOME TAX vs. M/S. G. M. EDUCATION TRUST

Bench: S.SUJATHA,VINEET KOTHARI

264 ITR 110, wherein the Division Bench of Bombay High Court held that the income derived from the trust property has also got to be computed on commercial principles and if commercial principles are applied, then adjustment of expenses incurred by the trust for charitable and religious purposes in the earlier years against the income earned by the trust

THE COMMISSIONER OF vs. THE KARNATAKA STATE

Bench: ABHAY SHREENIWAS OKA (CJ),S.G.PANDIT

264 ITR 110, wherein the Division Bench of Bombay High Court held that the income derived from the trust property has also got to be computed on commercial principles and if commercial principles are applied, then adjustment of expenses incurred by the trust for charitable and religious purposes in the earlier years against the income earned by the trust

PR COMMISSIONER OF vs. SHUSHRUTHA EDUCATIONAL

Appeal is dismissed

Bench: S.SUJATHA,VINEET KOTHARI

section 11(1).” 13. In CIT v. Trustee of H.E.H. The Nizam’s Supplemental Religious Endowment Trust (1981) 127 ITR 378, the Andhra Pradesh High Court has accepted the Date of Order 21-08-2018 I.T.A.No.862/2017 Pr.Commissioner of Income Tax (Exemptions) & Anr. Vs. Shushrutha Educational Trust 24/27 accounts maintained in respect of the trust in conformity with the principles

PR COMMISSIONER OF INCOME TAX vs. THE NEW CAMBRIDGE

Bench: S.SUJATHA,VINEET KOTHARI

264 ITR 110, wherein the Division Bench of Bombay High Court held that the income derived from the trust property has also got to be computed on commercial principles and if commercial principles are applied, then adjustment of expenses incurred by the trust for charitable and religious purposes in the earlier years against the income earned by the trust

PR. COMMISSIONER OF INCOME TAX vs. M/S. MEDICAL RELIEF SOCIETY OF SOUTH KANARA

Bench: S.SUJATHA,VINEET KOTHARI

264 ITR 110, wherein the Division Bench of Bombay High Court held that the income derived from the trust property has also got to be computed on commercial principles and if commercial principles are applied, then adjustment of expenses incurred by the trust for charitable and religious purposes in the earlier years against the income earned by the trust

PR. COMMISSIONER OF INCOME TAX vs. M/S. MEDICAL RELIEF SOCIETY OF SOUTH KANARA

Bench: S.SUJATHA,VINEET KOTHARI

264 ITR 110, wherein the Division Bench of Bombay High Court held that the income derived from the trust property has also got to be computed on commercial principles and if commercial principles are applied, then adjustment of expenses incurred by the trust for charitable and religious purposes in the earlier years against the income earned by the trust

PR. COMMISSIONER OF INCOME TAX vs. M/S. MEDICAL RELIEF SOCIETY OF SOUTH KANARA

Bench: S.SUJATHA,VINEET KOTHARI

264 ITR 110, wherein the Division Bench of Bombay High Court held that the income derived from the trust property has also got to be computed on commercial principles and if commercial principles are applied, then adjustment of expenses incurred by the trust for charitable and religious purposes in the earlier years against the income earned by the trust

PR COMMISSIONER OF vs. M/S YENEPOYA UNIVERSITY

Bench: S.SUJATHA,VINEET KOTHARI

264 ITR 110, wherein the Division Bench of Bombay High Court held that the income derived from the trust property has also got to be computed on commercial principles and if commercial principles are applied, then adjustment of expenses incurred by the trust for charitable and religious purposes in the earlier years against the income earned by the trust

PR COMMISSIONER OF INCOME TAX vs. M/S MEDICAL RELIEF

Bench: S.SUJATHA,VINEET KOTHARI

264 ITR 110, wherein the Division Bench of Bombay High Court held that the income derived from the trust property has also got to be computed on commercial principles and if commercial principles are applied, then adjustment of expenses incurred by the trust for charitable and religious purposes in the earlier years against the income earned by the trust

PR COMMISSIONER OF vs. M/S YENEPOYA UNIVERSITY

Bench: S.SUJATHA,VINEET KOTHARI

264 ITR 110, wherein the Division Bench of Bombay High Court held that the income derived from the trust property has also got to be computed on commercial principles and if commercial principles are applied, then adjustment of expenses incurred by the trust for charitable and religious purposes in the earlier years against the income earned by the trust

PR. COMMISSIONER OF INCOME TAX vs. M/S. MEDICAL RELIEF SOCIETY OF SOUTH KANARA

Bench: S.SUJATHA,VINEET KOTHARI

264 ITR 110, wherein the Division Bench of Bombay High Court held that the income derived from the trust property has also got to be computed on commercial principles and if commercial principles are applied, then adjustment of expenses incurred by the trust for charitable and religious purposes in the earlier years against the income earned by the trust

PR COMMISSIONER OF INCOME TAX vs. M/S MEDICAL RELIEF

Bench: S.SUJATHA,VINEET KOTHARI

264 ITR 110, wherein the Division Bench of Bombay High Court held that the income derived from the trust property has also got to be computed on commercial principles and if commercial principles are applied, then adjustment of expenses incurred by the trust for charitable and religious purposes in the earlier years against the income earned by the trust

PR COMMISSIONER OF vs. M/S YENEPOYA UNIVERSITY

Bench: S.SUJATHA,VINEET KOTHARI

264 ITR 110, wherein the Division Bench of Bombay High Court held that the income derived from the trust property has also got to be computed on commercial principles and if commercial principles are applied, then adjustment of expenses incurred by the trust for charitable and religious purposes in the earlier years against the income earned by the trust

PR COMMISSIONER OF INCOME TAX vs. M/S MEDICAL RELIEF

Bench: S.SUJATHA,VINEET KOTHARI

264 ITR 110, wherein the Division Bench of Bombay High Court held that the income derived from the trust property has also got to be computed on commercial principles and if commercial principles are applied, then adjustment of expenses incurred by the trust for charitable and religious purposes in the earlier years against the income earned by the trust

PR COMMISSIONER OF INCOME TAX (CENTRAL) vs. M/S CHALASSANI EDUCATION TRUST

Appeal is dismissed

Bench: S.SUJATHA,VINEET KOTHARI

section 11(1).” Date of Order 21-08-2018 I.T.A.No.852/2017 Pr.Commissioner of Income Tax (Central) & Anr. Vs. M/s.Chalassani Education Trust 23/27 13. In CIT v. Trustee of H.E.H. The Nizam’s Supplemental Religious Endowment Trust (1981) 127 ITR 378, the Andhra Pradesh High Court has accepted the accounts maintained in respect of the trust in conformity with the principles