JERMELS ACCADEMY ,DARJEELING vs. ITO, WARD 2(2), EXEMP, , SILIGURI

trust running a school, is in appeal against orders confirming additions made under section 69A for cash deposits during the demonetization period and upholding the classification of its income as business income instead of charitable

JERMELS ACCADEMY,DARJEELING vs. ITO, WARD 2(2), EXEMP,, SILIGURI

In the result, all the 3 appeals filed by the Assessee are partly\nallowed for statistical purposes

trusts obtaining\nregular registration under section 12AA/12AB by extending the benefit of\nsections 11 and 12 for pending assessments of earlier years. It is also\npertinent to note that the second proviso to Section 12A(2) has been omitted\nby the Finance Act, 2023, w.e.f. 01.04.2023. The conscious omission of any\nreference to Provisional Registration in the proviso to section

M/S S.KANEHIALALL LOHIA TRUST,KOLKATA vs. I.T.O., WARD-1(4), KOLKATA

In the result, both the appeals of assessee are allowed

Bench: Shri A. T. Varkey, Jm]

section the income which is to be taken for purpose of accumulation is the income derived by the trust from property. If both the decisions are carefully read, it becomes evident that any expenditure which is in the shape of application of income is not to be taken into account. Having found that trust is entitled to exemption under

M/S S.KANEHIALALL LOHIA TRUST,KOLKATA vs. I.T.O., WARD-1(4), KOLKATA

In the result, both the appeals of assessee are allowed

Bench: Shri A. T. Varkey, Jm]

section the income which is to be taken for purpose of accumulation is the income derived by the trust from property. If both the decisions are carefully read, it becomes evident that any expenditure which is in the shape of application of income is not to be taken into account. Having found that trust is entitled to exemption under

M/S DHAMEJA MINING,SIKKIM vs. ITO, WD-2(4), ASANSOL, ASANSOL

In the result, the appeal of assessee is allowed for statistical purposes

Bench: : Shri M.Balaganesh & Shri S.S.Viswanethra Ravi

Charitable Trust Vs WTO & Ors. (All) 222 ITR 523] b. Special Leave petition dismissed with speaking order is declaration of law by Supreme Court - After rejection of SLP, lower Courts can review its order - Once SLP is admitted, lower Courts have no jurisdiction to review the order [Kunhayammed & Ors. Vs State of Kerala