DY.CIT (E) -2(1) , MUMBAI vs. MUMBAI EDUCATIONAL TRUST, MUMBAI

Bench: Shri Prashant Maharishi, Am & Shri Rahul Chaudhary, Jm

Charitable Trust (2015) 230 TAXMAN 0066 (Gujarat) ITA Nos. 1828 to 1831/Mum/2022 Mumbai Education Trust; A.Y. 08-09 to 11-12 (v) Director of Income Tax (Exemptions) Vs. Sheth Mafatlal Gagalbhai Foundation Trust (2001) 249 ITR 0533 (vi) Commissioner of Income-Tax Vs. Working Women's Forum (2014) 365 ITR 0353 (Madras) (vii) IILM Foundation Vs Asst. Director of Income

DY.CIT (E) -2(1) , MUMBAI vs. MUMBAI EDUCATIONAL TRUST, MUMBAI

Bench: Shri Prashant Maharishi, Am & Shri Rahul Chaudhary, Jm

Charitable Trust (2015) 230 TAXMAN 0066 (Gujarat) ITA Nos. 1828 to 1831/Mum/2022 Mumbai Education Trust; A.Y. 08-09 to 11-12 (v) Director of Income Tax (Exemptions) Vs. Sheth Mafatlal Gagalbhai Foundation Trust (2001) 249 ITR 0533 (vi) Commissioner of Income-Tax Vs. Working Women's Forum (2014) 365 ITR 0353 (Madras) (vii) IILM Foundation Vs Asst. Director of Income

DY.CIT (E) -2(1) , MUMBAI vs. MUMBAI EDUCATIONAL TRUST, MUMBAI

Bench: Shri Prashant Maharishi, Am & Shri Rahul Chaudhary, Jm

Charitable Trust (2015) 230 TAXMAN 0066 (Gujarat) ITA Nos. 1828 to 1831/Mum/2022 Mumbai Education Trust; A.Y. 08-09 to 11-12 (v) Director of Income Tax (Exemptions) Vs. Sheth Mafatlal Gagalbhai Foundation Trust (2001) 249 ITR 0533 (vi) Commissioner of Income-Tax Vs. Working Women's Forum (2014) 365 ITR 0353 (Madras) (vii) IILM Foundation Vs Asst. Director of Income

DY.CIT (E) -2(1) , MUMBAI vs. MUMBAI EDUCATIONAL TRUST, MUMBAI

Bench: Shri Prashant Maharishi, Am & Shri Rahul Chaudhary, Jm

Charitable Trust (2015) 230 TAXMAN 0066 (Gujarat) ITA Nos. 1828 to 1831/Mum/2022 Mumbai Education Trust; A.Y. 08-09 to 11-12 (v) Director of Income Tax (Exemptions) Vs. Sheth Mafatlal Gagalbhai Foundation Trust (2001) 249 ITR 0533 (vi) Commissioner of Income-Tax Vs. Working Women's Forum (2014) 365 ITR 0353 (Madras) (vii) IILM Foundation Vs Asst. Director of Income

MUNIWAR ABAD CHARITABLE TRUST,MUMBAI vs. DY DIRECTOR OF INCOME TAX (EXEMPTIONS) - I(1), MUMBAI

In the result, both the appeals of the assessee are allowed

Bench: Shri B.R. Baskaran (Am) & Shri Ramlal Negi (Jm)

losses. The AO has observed that the assessee has been generating huge surplus year after year. We notice that the above said observation of the AO does not appear to be correct if we look at the financial statements of the assessee. We notice that the surplus is generated from out of other income of the assessee and not from

ITO (E) 2(3), MUMBAI vs. SRI SRI RADHA DAMODAR CHARITABLE TRUST, MUMBAI

In the result, appeal filed by Revenue is dismissed

Bench: Shri Shamim Yahya & Shri Pawan Singhito (E)-2(3) Shri Radha Damodar Charitable 513, 5Th Floor, Trust, Hare Krishna Land, Juhu, Vs. Piramal Chambers, Lalbaug, Mumbai-400049 Mumbai-12. Pan:Aafts2570L (Appellant) (Respondent) Revenue By : Shri Ram Tiwari (Dr) Assessee By : Sh. Nishant Thakkar With Ms. Jasmin Amalsadwala- Advocates. Date Of Hearing : 20.03.2018 Date Of Pronouncement : 04.04.2018 Order Under Section 254(1) Of Income Tax Act Per Pawan Singh: 1. This Appeal By Revenue Under Section 253 Of Income Tax Act (‘The Act’) Is Directed Against The Order Of Ld. Commissioner Of Income-Tax (Appeals)-1

set aside and that of the Assessing Officer be restored. 2. Brief facts of the case are that the assessee is a public charitable trust, having registration under section 12A of the Act. The assessee is established with the object to impart relief to poor, education, medical relief and promotion of vegetarianism, distribution of Prasadam and advancement of other object

SHREE SAI BABA SANTHAN TRUST MUMBAI ,MUMBAI vs. DCIT(EXEMPTION), MUMBAI

In the result, the appeal filed by the assessee is allowed and the\nappeal of the Revenue is dismissed

loss, deduction, allowance and relief in the return then that\n"shall also be deemed to be a case where the income chargeable to\ntax has escaped assessment".\n35.5 As explained by the Supreme Court in Rajesh Jhaveri Stock\nBrokers (P.) Ltd. (supra) and reiterated by it in Zuari Estate\nDevelopment & Investment Co. Ltd. (supra) an intimation under\nSection

DY COMMISSIONER OF INCOME TAX (EXEMPTION)-2(1), MUMBAI vs. SHREE SAI BABA SANSTHAN TRUST (SHIRDI), MUMBAI

In the result, the appeal filed by the assessee is allowed and the\nappeal of the Revenue is dismissed

loss, deduction, allowance and relief in the return then that\n"shall also be deemed to be a case where the income chargeable to\ntax has escaped assessment".\n\n35.5 As explained by the Supreme Court in Rajesh Jhaveri Stock\nBrokers (P.) Ltd. (supra) and reiterated by it in Zuari Estate\nDevelopment & Investment Co. Ltd. (supra) an intimation under\nSection

ESTATE OF VANDRAVAN P SHAH,MUMBAI vs. ASSISTANT COMISSIONER OF INCOME TAX, CIRCLE 19(3), MUMBAI

In the result all the three captioned appeals are dismissed

Bench: Sandeep Gosain () & Shri Om Prakash Kant ()

loss accounts u/s 35AC is disallowed and added back to the total income of the assessee. s disallowed and added back to the total income of the assessee. s disallowed and added back to the total income of the assessee. Penalty proceedings are initiated u/s 271(1)(c) of the I. T. Act for Penalty proceedings are initiated

ITO (E)-II(1), MUMBAI vs. KALYANI CARTIABLE TRUST, MUMBAI

In the result, appeal of the Revenue is dismissed

Bench: Shri R.C.Sharma, Am & Shri Ravish Sood, Jm (Assessment Year :2010-11 Ito (E)-Ii(1), Mumbai Vs. M/S. Kalyani Charitable Trust, C/O. Ravi Communication, Jj Hospital Campus, Byculla, Mumbai- 400008 Pan/Gir No. Aaatk3179R Appellant) .. Respondent)

Charitable Trust It is also alternatively submitted that- However, Id. AO not allowed the set-off of loss of Rs.4

PEGASUS PROPERTIES P. LTD.,PUNE vs. DY CIT, CC-2(3), MUMBAI

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

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Pavan Kumar Gadale, Hon'Ble

Loss account which comes to Rs 9,71,368 holding that, the same has not been fully substantiated through supporting; 15. erred in upholding the action of learned AO of making Ad-hoc disallowance without appreciating that books of accounts are audited and accepted without any variation and hence, adjustment is not sustainable in the eyes of law. Addition

SETH WALCHAND HIRACHAND MEMORIAL TRUST,MUMBAI vs. ITO (E) II(1), MUMBAI

In the result, the appeal filed by the assessee is hereby ordered to be Allowed

Bench: Shri D. Karunakara Rao, Am & Shri Amarjit Singh, Jm

set off against the surplus of the subsequent years on the ground that in the case of a charitable trust, their income was assessable under self-contained code mentioned in section 11 to section 13 of the Income Tax Act and that the income of the charitable trust was not assessable under the head “profit and gains of business” under

ITO (E) 2(3), MUMBAI vs. SRI SRI RADHA DAMODAR CHARITABLE TRUST, MUMBAI

In the result, appeal filed by Revenue is dismissed

Bench: Shri B.R. Baskaran & Shri Pawan Singhito (E)-2(3) Shri Radha Damodar Charitable 513, 5Th Floor, Trust, Hare Krishna Land, Juhu, Vs. Piramal Chambers, Lalbaug, Mumbai-400049 Mumbai-12. Pan:Aafts2570L (Appellant) (Respondent) Ddit (E) I (1) Shri Radha Damodar Charitable 504,5Th Floor, Trust, Hare Krishna Land, Juhu, Vs. Piramal Chambers, Lalbaug, Mumbai-400049 Mumbai-12. Pan:Aafts2570L (Appellant) (Respondent)

loss account. The primarily reason is that the assessee had generated substantial revenue. The ld CIT(A) allowed the appeal of the assessee on the basis of order of ld CIT(A) in assessment year 2010-11 dated 28.04.2015. The order of CIT(A) for assessment year 2010-11 is based on the order of Tribunal in assessment year

ISARC-14/2010-11 TRUST,MUMBAI vs. ITO 23(1)(2), MUMBAI

In the result the Appeal is dismissed

Bench: Shri M.Balaganesh, Am & Shri Amarjit Singh, Jm M/S. Isarc 14/2010-11 Vs. Ito 23(1)(2), Trust Room No.108, C-11, G Block, Sme Matru Mandir, Tardeo Road Development Centre Grant Road, Bandra Kurla Complex Mumbai – 400 007 Bandra (East) Mumbai – 400 051 Pan/Gir No.Aaati8646N (Appellant) .. (Respondent) Ito 23(1)(2), Vs. M/S. Isarc 14/2010-11 Room No.108, Trust Matru Mandir, Tardeo Road C-11, G Block, Sme Grant Road, Development Centre Mumbai – 400 007 Bandra Kurla Complex Bandra (East) Mumbai – 400 051 Pan/Gir No.Aaati8646N (Appellant) .. (Respondent) M/S. Isarc-12/2010-11 Vs. Ito 23(1)(2), Trust Room No.108, C-11, G Block, Sme Matru Mandir, Tardeo Road Development Centre Grant Road, Bandra Kurla Complex Mumbai – 400 007 Bandra (East) Mumbai – 400 051 Pan/Gir No.Aaati8644Q Isarc Sidbi 2/2009-10 Trust

charitable trusts where the investors name and beneficial interest are not explicitly known on the date of its creation - such information becoming available only when the funds starts accepting contribution from investors, have to be treated as falling within section 164 (1) of the Act and the fund should be taxed in respect of the income received on behalf

DCIT(E)-2(1), MUMBAI vs. NEHRU CENTRE, MUMBAI

In the result, appeal filed by the revenue is dismissed

Bench: Shri S. Rifaur Rahman, Hon'Ble & Shri Pavan Kumar Gadale, Hon'Bledcit (E) – 2(1) V. Nehru Centre Room No. 519, 5Th Floor Discovery Of India Building Piramal Chambers, Lalbaug 13Th Floor, Dr. Annie Besant Road Worli, Mumbai - 400018 Mumbai – 400 012 Pan: Aaatn2536J (Appellant) (Respondent) Assessee By : Shri Dilip Thakkar Department By : Shri Dilipkumar Shah

loss has been financed by the interest income and income form letting out of the trust assets. The expenses incurred by the appellant trusts pertain to maintenance of the trust property and capital 21 Nehru Centre expenses on trust property and overall administration of the Trust. These expenses would have to be incurred whether the trust assets have been

DEPUTY COMMISSIONER OF INCOME TAX (EXEMPTION)-1(1), MUMBAI, MUMBAI vs. ALL INDIA GEM AND JEWELLERY DOMESTIC COUNCIL, MUMBAI

In the result, the appeal of the Revenue is dismissed

Bench: Shri Om Prakash Kant () & Shri Raj Kumar Chauhan () Assessment Year: 2015-16

trust wholly for charitable or religious purposes to the extent to which such income is applied to such purposes shall not be included to which such income is applied to such purposes shall not be included to which such income is applied to such purposes shall not be included in the total income of the previous year of the person

ITO (E) -I(1), MUMBAI vs. DR..D.Y PATIL SPORTS ACADEMY, MUMBAI

The appeals of the Revenue are dismissed

Bench: Shri Joginder Singh & Shri Ashwani Taneja

set off against the surplus of the subsequent years on the ground that in the case of a charitable trust, their income was assessable under self-contained code mentioned in section 11 to section 13 of the Income-tax Act and that Dr. D. Y. Patil Sports Academy the income of the charitable trust was not assessable under the head

DY COMMISSIONER OF INCOME TAX,CENTRAL CIRCLE-7(1), MUMBAI vs. DR D.Y. PATIL ADUCATION ACADEMY , MUMBAI

In the result, the appeal of the revenue is dismissed

Bench: This Tribunal Falls Within The Said Pandemic Period. Accordingly, After Considering The Relaxation Of Period Provided By The Hon’Ble Supreme Court, We Find That There Is No Delay In Filing Of Appeal Before Us. Accordingly, The Appeal Is Admitted & Taken Up For Adjudication.

set off against the surplus of the subsequent years on the ground that in the case of a Charitable Trust, their income was assessable under self- contained code mentioned in section 11 to section 13 of the Income-tax Act and that the income of the Charitable Trust was not assessable under the head "profits and gains of business" under