ITO(E), WD-1(4), KOLKATA, KOLKATA vs. PANCHAJANYA TRUST, KOLKATA

In the result, the appeal of the Assessee is allowed and the appeal of the Revenue is dismissed

Bench: Shri S.S.Godara, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita No.1841/Kol/2017 ("नधा"रणवष" / Assessment Year: 2014-15)

366 ITR 51,is applicable to the assessee, wherein the Hon’ble High Court has held that depreciation claim is allowable even if asset had been claimed as application by assessee trust . Findings of the court is given below: “Court had considered the submissions and perused the judgments of the Punjab and Haryana High Court and the Bombay High Court

PANCHAJANYA TRUST,KOLKATA vs. ITO, (EXEMPTION), WARD-1(4), KOKLATA, KOLKATA

In the result, the appeal of the Assessee is allowed and the appeal of the Revenue is dismissed

Bench: Shri S.S.Godara, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita No.1841/Kol/2017 ("नधा"रणवष" / Assessment Year: 2014-15)

366 ITR 51,is applicable to the assessee, wherein the Hon’ble High Court has held that depreciation claim is allowable even if asset had been claimed as application by assessee trust . Findings of the court is given below: “Court had considered the submissions and perused the judgments of the Punjab and Haryana High Court and the Bombay High Court

DCIT(EXAMPTION), CIRCLE - 1(1), KOLKATA, KOLKATA vs. MAA SARASWATI GYAN MANDIR EDUCATION SOCIETY , KOLKATA

In the result, the appeal of the revenue is dismissed

Bench: Shri A.T. Varkey, Jm &Dr. A.L.Saini, Am आयकरअपीलसं./Ita No.2002/Kol/2017 (िनधा"रणवष" / Assessment Year: 2012-13) Dcit(Exemption), Circle- Vs. Maa Saraswati Gyan Mandir 1(1), Kolkata

366 ITR 51,will hold good, wherein it was held that the claim of depreciation is to be allowed even if the cost of the asset is treated as application. Findings of the Hon`ble Court is given below: “Section 11, read with section 32, of the Income-tax Act, 1961 - Charitable or religious trust

SARLABEN BHANSALI CHARITIES TRUST,KOLKATA vs. CIT(EXEMPTIONS), KOLKATA, KOLKATA

In the result, the appeal of the assessee is allowed

charitable trust. It filed its return for A.Y. 2009-10 on 11.10.2010 declaring NIL income. The Assessing Officer issued a notice under section 148 and thereafter completed the 2 I.T.A. No. 663 & 76/Kol/2016 Assessment Year: 2010-11 Sarlaben Bhansali Charities Trust assessment under section 147 r.w.s. 143(3) & Income Tax Act, 1961 (Act) determining the total income

SARLABEN BHANSALI CHARITIES TRUST,KOLKATA vs. CIT, (EXEMPTIONS), KOLKATA, KOLKATA

In the result, the appeal of the assessee is allowed

charitable trust. It filed its return for A.Y. 2009-10 on 11.10.2010 declaring NIL income. The Assessing Officer issued a notice under section 148 and thereafter completed the 2 I.T.A. No. 663 & 76/Kol/2016 Assessment Year: 2010-11 Sarlaben Bhansali Charities Trust assessment under section 147 r.w.s. 143(3) & Income Tax Act, 1961 (Act) determining the total income

ALLAHABAD BANK,KOLKATA vs. ADD.CIT,RANGE-6, KOLKATA, KOLKATA

In the result the appeal of the revenue is dismissed

Bench: Hon’Ble Shri N.V.Vasudevan, Jm & Shri M.Balaganesh, Am ] Assessment Year : 2008-09

366/-. This ground of appeal is partly allowed.” ITA No.1199/Kol/2012 &1282/Kol/2012- Allahabad Bank A.Y.2008-09 30. Aggrieved by the order of the CIT(A), the Assessee has raised Gr.No.5 before the Tribunal. The limited prayer of the ld. Counsel for the assesse before us was to remand the matter to the AO to enable the Assessee to produce the balance

HIMADRI MEMORIAL CANCER WELFARE TRUST,KOLKATA vs. JDIT (EXEMPTION), KOLKATA , KOLKATA

In the result, the appeal fails

Bench: Hon’Ble Shri J.Sudhakar Reddy, Am & Hon’Ble Shri A.T. Varkey, Jm ] I.T.A No. 2275/Kol/2017 Assessment Year : 2011-12 Himadri Memorial Cancer Welfare Trust -Vs- Jdit(E), Kolkata [Pan: Aaath 4859 C] (Appellant) (Respondent)

366 ITR 51(Cal) wherein it is held as under: 5. To sum up, the business income of the trust as disclosed by the accounts plus its other income computed as above, will be the "income" of the trust for purposes of section 11 (1). Further, the trust must spend at least 75 per cent., of this income