SIR RATAN TATA TRUST,MUMBAI SUBURBAN vs. DEPUTY COMMISSIONER OF INCOME TAX (EXEMPTION)-2(1), MUMBAI

In the result, both the appeals of the assessee in both AY 2014-15 and AY

Bench: Ms Padmavathy S, Am & Shri Rahul Chaudhary, Jm

charitable Trust to be a Director in a company in which the Trust holds shares also holds a fiduciary relationship with the Trust and fiduciary duty towards the nameless, faceless beneficiaries of those Trusts". (Para 19.24 in page 334 of PB) Therefore in our considered view there is merit in the submission that the right to nominate persons

ASSISTANT COMMISSIONER OF INCOME TAX 17(2)), MUMBAI vs. NAVJBAI RATAN TATA TRUST, MUMBAI

In the result, appeal by the Revenue being ITA No

Bench: Shri G.S. Pannu & Shri Sandeep Singh Karhail

Charitable Organization with M/s. Navajbhai Ratan Tata Trust Assessment Years: 2011-12, 2012-13, 2013-14 and 2014-15 Director of Income Tax (Exemption), Mumbai, under section 12A of the Act vide registration no.TR/10925, dated 15th March 1976, and with Charity Commissioner under registration no.E–5998(Mumbai). The assessee had also been issued certificate under section

NAVJBAI RATAN TATA TRUST,MUMBAI vs. ASSISTANT COMMISSIONER OF INCOME TAX 17(2)), MUMBAI

In the result, appeal by the Revenue being ITA No

Bench: Shri G.S. Pannu & Shri Sandeep Singh Karhail

Charitable Organization with M/s. Navajbhai Ratan Tata Trust Assessment Years: 2011-12, 2012-13, 2013-14 and 2014-15 Director of Income Tax (Exemption), Mumbai, under section 12A of the Act vide registration no.TR/10925, dated 15th March 1976, and with Charity Commissioner under registration no.E–5998(Mumbai). The assessee had also been issued certificate under section

ASSISTANT COMMISSIONER OF INCOME TAX 17(2)), MUMBAI vs. NAVJBAI RATAN TATA TRUST, MUMBAI

In the result, appeal by the Revenue being ITA No

Bench: Shri G.S. Pannu & Shri Sandeep Singh Karhail

Charitable Organization with M/s. Navajbhai Ratan Tata Trust Assessment Years: 2011-12, 2012-13, 2013-14 and 2014-15 Director of Income Tax (Exemption), Mumbai, under section 12A of the Act vide registration no.TR/10925, dated 15th March 1976, and with Charity Commissioner under registration no.E–5998(Mumbai). The assessee had also been issued certificate under section

NAVJBAI RATAN TATA TRUST,MUMBAI vs. ASSISTANT COMMISSIONER OF INCOME TAX 17(2)), MUMBAI

In the result, appeal by the Revenue being ITA No

Bench: Shri G.S. Pannu & Shri Sandeep Singh Karhail

Charitable Organization with M/s. Navajbhai Ratan Tata Trust Assessment Years: 2011-12, 2012-13, 2013-14 and 2014-15 Director of Income Tax (Exemption), Mumbai, under section 12A of the Act vide registration no.TR/10925, dated 15th March 1976, and with Charity Commissioner under registration no.E–5998(Mumbai). The assessee had also been issued certificate under section

NAVJBAI RATAN TATA TRUST,MUMBAI vs. ADDITIONAL DIRECTOR OF INCOME TAX (EXEMPTIONS) RANGE-II(NOW ASSESSED BY THE ASSISTANT COMMISSIONER OF INCOME TAX 17(2)), MUMBAI

In the result, appeal by the Revenue being ITA No

Bench: Shri G.S. Pannu & Shri Sandeep Singh Karhail

Charitable Organization with M/s. Navajbhai Ratan Tata Trust Assessment Years: 2011-12, 2012-13, 2013-14 and 2014-15 Director of Income Tax (Exemption), Mumbai, under section 12A of the Act vide registration no.TR/10925, dated 15th March 1976, and with Charity Commissioner under registration no.E–5998(Mumbai). The assessee had also been issued certificate under section

ASSISTANT COMMISSIONER OF INCOME TAX 17(2)), MUMBAI vs. NAVJBAI RATAN TATA TRUST, MUMBAI

In the result, appeal by the Revenue being ITA No

Bench: Shri G.S. Pannu & Shri Sandeep Singh Karhail

Charitable Organization with M/s. Navajbhai Ratan Tata Trust Assessment Years: 2011-12, 2012-13, 2013-14 and 2014-15 Director of Income Tax (Exemption), Mumbai, under section 12A of the Act vide registration no.TR/10925, dated 15th March 1976, and with Charity Commissioner under registration no.E–5998(Mumbai). The assessee had also been issued certificate under section

NAVJBAI RATAN TATA TRUST,MUMBAI vs. ADDITIONAL DIRECTOR OF INCOME TAX (EXEMPTIONS) RANGE-II(NOW ASSESSED BY THE ASSISTANT COMMISSIONER OF INCOME TAX 17(2)), MUMBAI

In the result, appeal by the Revenue being ITA No

Bench: Shri G.S. Pannu & Shri Sandeep Singh Karhail

Charitable Organization with M/s. Navajbhai Ratan Tata Trust Assessment Years: 2011-12, 2012-13, 2013-14 and 2014-15 Director of Income Tax (Exemption), Mumbai, under section 12A of the Act vide registration no.TR/10925, dated 15th March 1976, and with Charity Commissioner under registration no.E–5998(Mumbai). The assessee had also been issued certificate under section

ASSISTANT COMMISSIONER OF INCOME TAX 17(2)), MUMBAI vs. NAVJBAI RATAN TATA TRUST, MUMBAI

In the result, appeal by the Revenue being ITA No

Bench: Shri G.S. Pannu & Shri Sandeep Singh Karhail

Charitable Organization with M/s. Navajbhai Ratan Tata Trust Assessment Years: 2011-12, 2012-13, 2013-14 and 2014-15 Director of Income Tax (Exemption), Mumbai, under section 12A of the Act vide registration no.TR/10925, dated 15th March 1976, and with Charity Commissioner under registration no.E–5998(Mumbai). The assessee had also been issued certificate under section

INCOME TAX OFFICER-23(1)(2), MUMBAI vs. INDIAN CORPORATE LOAN SECURITIES TRUST 2008 SERIES 14, MUMBAI

In the result, Revenue's appeal for A

Bench: Shri M.Balaganesh, Am & Shri Ravish Sood, Jm The Ito-23(1)(2) Vs. M/S. Indian Corporate Loan Room No.18 Securities Trust 2008 Matru Mandir Series 14 Grant Road Il & Fs Financial Centre Mumbai – 400 007 Plot No.C-22, G Block 3Rd Floor, Bandra Kurla Complex, Bandra East Mumbai – 400 051 Pan/Gir No. Aaat16786P (Appellant) .. (Respondent) The Ito-23(1)(2) Vs. M/S. Indian Corporate Loan Room No.18 Securities Trust Series Iii Matru Mandir 2009 Grant Road Il & Fs Financial Centre Mumbai – 400 007 Plot No.C-22, G Block Bandra Kurla Complex, Bandra East Mumbai – 400 051 Pan/Gir No. Aaat17440L (Appellant) .. (Respondent) The Ito-23(1)(2) Vs. M/S. Indian Corporate Loan Room No.18 Securities Trust Series Matru Mandir 2008 Series 36 Grant Road Il & Fs Financial Centre Mumbai – 400 007 Plot No.C-22, G Block Bandra Kurla Complex, Bandra East Mumbai – 400 051 Pan/Gir No. Aaat16925L (Appellant) .. (Respondent) आदेश / O R D E R Per Bench: These Appeals In Ita No.4789/Mum/2017, 4791/Mum/2017 & 4794/Mum/2017 For A.Y.2010-11 Arise Out Of The Order By The Ld. Commissioner Of Income Tax (Appeals)-32, Mumbai In Appeal No.Cit(A)- 32/It-604/23(1)(2)/2015-16, Cit(A)-32/It-48/19(3)(2)/2012-13 & Cit(A)-32/It-483/Ito-19(3)(4)/12-13 Respectively Dated 24/04/2017 (Ld. Cit(A) In Short) Against The Order Of Assessment Passed U/S.143(3) Of The Income Tax Act, 1961 (Hereinafter Referred To As Act) Dated 26/02/2016, 31/10/2012 Respectively By The Ld. Income Tax Officer – 23(1)(2) & 19(3)(2) Respectively, Mumbai (Hereinafter Referred To As Ld. Ao).

Trust Deed must contain provisions that vest the power of revocation. There is nothing in the section to read that such a power should be unconditional. As mentioned earlier, the Trust Deed and the Deed of Assignment contain clauses which indicate that the power of revocation has been granted. Incidentally, we find that these principles on revocable transfer have been

ASSISTANT COMMISSIONER OF INCOME TAX, KAUTILYA BHAVAN, BKC, MUMBAI vs. TATA EDUCATION TRUST, MUMBAI

In the result, Revenue’s appeal is dismissed

Bench: Shri Saktijit Dey & Shri Narendra Kumar Billaiya

charitable institution in earlier assessment year could be allowed to be set off against income of subsequent years by invoking section 11 of the Income-tax Act, 1961." To this extent, Mr. K. Radhakrishnan, learned senior counsel appearing on behalf of the applicant/appellant is correct. Therefore, we have heard him on the aforesaid question of law as well

TATA EDUCATION TRUST ,MUMBAI vs. ASSISTANT COMMISSIIONER OF INCOME TAX CIRCLE 17(3), MUMBAI

In the result, Revenue’s appeal is dismissed

Bench: Shri Saktijit Dey & Shri Narendra Kumar Billaiya

charitable institution in earlier assessment year could be allowed to be set off against income of subsequent years by invoking section 11 of the Income-tax Act, 1961." To this extent, Mr. K. Radhakrishnan, learned senior counsel appearing on behalf of the applicant/appellant is correct. Therefore, we have heard him on the aforesaid question of law as well

TATA EDUCATION TRUST ,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX (EXEMPTION)-CIRCLE 2(1), MUMBAI

In the result, Revenue’s appeal is dismissed

Bench: Shri Saktijit Dey & Shri Narendra Kumar Billaiya

charitable institution in earlier assessment year could be allowed to be set off against income of subsequent years by invoking section 11 of the Income-tax Act, 1961." To this extent, Mr. K. Radhakrishnan, learned senior counsel appearing on behalf of the applicant/appellant is correct. Therefore, we have heard him on the aforesaid question of law as well

TATA EDUCATION TRUST ,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME TAX (EXEPTION) -CIRCLE 2(1), MUMBAI

In the result, Revenue's appeal is dismissed

234C of the Act on the additions not envisaged by the\nAppellant.\n3\nITA Nos.4282,4283,4156,4496,4727,\n4835,4852,4419,4873/MUM/24\nTata Education Trust\n5.\nOn the facts and under the circumstances of the case and in law,\nthe Ld CIT(A) erred in passing the order without considering the\nsubmissions on record and without application of mind

NATIONAL STOCK EXCHANGE INVESTOR PROTECTION FUND TRUST,MUMBAI vs. ASSISTANT DIRECTOR OF INCOME TAX (E)-II(2), NOW DEPUTY COMMISSIONER OF INCOME TAX-2(1)EXEMPTION, MUMBAI

In the result, the appeal of the assessee is partly allowed and the appeal of the Revenue is dismissed

Bench: Shri Vikas Awasthy & Shri Rajesh Kumarassessment Year: 2011-12

Charitable Trust as relied upon by the AO is distinguishable to the present case as in that case the trust has multiple objects whereas in the instant case the trust has only one object and thus there is no question of ambiguity. Accordingly, we set aside the order of Ld. CIT(A) and direct the AO to allow the claim

ITO 19(3)(2), MUMBAI vs. INDIAN CORPORATE LOAN SECURITIZATION TRUST 2008 SERIES 14I, MUMBAI

In the result, Revenue’s appeal for A

Bench: Shri Jason P. Boaz & Shri Sandeep Goasinindian Corporate Loan Securitisation Income Tax Officer-9(3)(2) Trust- 2008 Series 14 Mumbai C/O. Il & Fs Trust Co. Ltd. Vs. 10Th Floor, “G” Block, Bkc Bandra (E), Mumbai 400051 Pan – Aaati6786P Appellant Respondent Income Tax Officer-(23)1)(2) Indian Corporate Loan [Erstwhile Ito-19(3)(2)] Securitisation Trust- 2008 Series 14 Room No. 108, Matru Mandir Vs. C/O. Il & Fs Trust Co. Ltd. Tardeo Road, Grant Road 10Th Floor, “G” Block, Bkc Mumbai 400007 Bandra (E), Mumbai 400051 Pan – Aaati6786P Appellant Respondent

234C of the Act be deleted. IX. Ground IX: General The Appellant craves leave to add to, alter or modify all or any of the above grounds of appeal. 3.2 Concise grounds of appeal As per the Tribunal's direction we file the concise grounds of appeal which are without prejudice to the original grounds of appeal filed

TATA EDUCATION TRUST ,MUMBAI vs. ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE -17(3), MUMBAI

In the result, Revenue's appeal is dismissed

charitable\ninstitution in earlier assessment year could be allowed to be set off\nagainst income of subsequent years by invoking section 11 of the\nIncome-tax Act, 1961.\"\nTo this extent, Mr. K. Radhakrishnan, learned senior counsel appearing\non behalf of the applicant/appellant is correct. Therefore, we have\nheard him on the aforesaid question of law as well

TATA EDUCATION TRUST,MUMBAI vs. ASSISTANT COMMISSIONER OF INCOME TAX-17(3), MUMBAI

In the result, Revenue's appeal is dismissed

charitable\ninstitution in earlier assessment year could be allowed to be set off\nagainst income of subsequent years by invoking section 11 of the\nIncome-tax Act, 1961.\"\nTo this extent, Mr. K. Radhakrishnan, learned senior counsel appearing\non behalf of the applicant/appellant is correct. Therefore, we have\nheard him on the aforesaid question of law as well

TATA EDUCATION TRUST,MUMBAI vs. ACIT-17(3), MUMBAI

In the result, Revenue's appeal is dismissed

charitable\ninstitution in earlier assessment year could be allowed to be set off\nagainst income of subsequent years by invoking section 11 of the\nIncome-tax Act, 1961.\"\nTo this extent, Mr. K. Radhakrishnan, learned senior counsel appearing\non behalf of the applicant/appellant is correct. Therefore, we have\nheard him on the aforesaid question of law as well