ITO(E)-1(1), MUMBAI, MUMBAI vs. BHAVITHA FOUNDATION, MUMBAI

In the result, the appeal of the Revenue is dismissed

Bench: Shri Om Prakash Kant () & Shri Raj Kumar Chauhan () Assessment Year: 2021-22

section 11(5)investment in shares is not a specified mode. Consequently, the dividend received there from such shares could not be therefore qualify dividend received there from such shares could not be therefore qualify dividend received there from such shares could not be therefore qualify to be an investment in specified modes us 11

SHREE DADAR DIGAMER JAIN MUMUKSHO MANDAL ,MUMBAI vs. CIT(EXEMPTION) WARD 2(3), MUMBAI

In the result, the appeal of the assessee is allowed

Bench: Shri Vikram Singh Yadav & Shri Anikesh Banerjeeassessment Year : 2023-24 Shri Dadar Digamber Jain The Cit (Exemption), Mumukshu Mandal, Ward-2(3), 271/293, 271/293, Vs. Mumbai. N.C. Kelkar Road, Opp: Shivaji Park, P.O. Dadar (West) Mumbai-400028. Pan : Aacts8044A (Appellant) (Respondent) For Assessee : Shri A.N. Shah For Revenue : Shri Annavaram Kosuri Date Of Hearing : 11-06-2025 Date Of Pronouncement : 15-07-2025 O R D E R Per Vikram Singh Yadav, A.M : This Is An Appeal Filed By The Assessee Against The Order Of The Ld.Addl/Jcit(A)-2, Delhi [„Ld.Cit(A)‟], Dated 05-03-2025, Pertaining To Assessment Year (Ay) 2023-24, Wherein The Assessee Has Taken The Following Grounds Of Appeal:

disallowed by the assessee in the return of income. Hence, the Ld.AR submitted that the assessee utilized the funds within the legally allowed time frame, i.e., till FY. 2022- 23, in line with Section 11(3

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

disallowed exemption of dividend under section 10(34). Learned Commissioner does not dispute these facts but adds that the Assessing Officer did not examine the fundamental question as to whether these shareholdings, as on 1st June 1973, were part of the corpus or not. Unless, according to the learned Commissioner, these shareholdings were held to be part of the corpus

SIR RATAN TATA TRUST,MUMBAI SUBURBAN vs. ADDITIONAL /JOINT/DEPUTY/ASSISTANT COMMISSIONER OF INCOME TAX, NFAC, 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

disallowed exemption of dividend under section 10(34). Learned Commissioner does not dispute these facts but adds that the Assessing Officer did not examine the fundamental question as to whether these shareholdings, as on 1st June 1973, were part of the corpus or not. Unless, according to the learned Commissioner, these shareholdings were held to be part of the corpus

ASIA SOCIETY INDIA CENTRE,MUMBAI vs. INCOME TAX OFFICER, (EXEMPTION)-1(1), MUMBAI

Bench: SHRI OM PRAKASH KANT, ACCOUNTANT MEMBER SHRI RAHUL CHAUDHARY (Judicial Member)

disallowance of unspent accumulation made u/s. 11(2) of the Income Tax Act in the Financial Year 2006-07 Rs.23,62,687/- and Financial Year 2007-08 Rs.30,64,418/- a total of Rs.54,27,105/- which was since reversed and spent in the financial year 2011-12 being alleged deemed Income under section 11(3

THE BOMBAY SOCIETY OF THE FRANCISCAN CLARIST SISTERS OF THE MOST BLESSED SACRAMENT,MUMBAI vs. ITO EXEM WARD 2(4), MUMBAI

In the result, the appeal of the assessee is allowed

Bench: Shri Pawan Singh & Smt. Renu Jauhriआयकर अपील सुं./Ita No.2501/Mum/2025 (धििाारण वर्ा / Assessment Year: 2023-2024) The Bombay Society Of V/S. Income Tax Officer, The Franciscan Clarist बिाम Ward 2(4), Mumbai Sisters Of The Most 6Th Floor, Mtnl Tel. Ex. Blessed Sacrament Building, Cumballa Hills, St. Anthony’S Home For The Pedder Road, Mumbai Aged, 51, Chapel Road, 400026 Bandra (West), Mumbai 400050 स्थायी लेखा सुं./जीआइआर सुं./Pan/Gir No: Aaatt0738Q Appellant/अपीलाथी .. Respondent/प्रधिवादी धििााररिी की ओर से /Assessee By: Shri Prashant Ghumare, Adv. राजस्व की ओर से /Revenue By: Shri Bhagirath Ramawat, Sr. Dr (Virtually Present) स िवाई की िारीख / Date Of Hearing 03.09.2025 घोर्णा की िारीख/Date Of Pronouncement 22.09.2025 आदेश / O R D E R Per Renu Jauhri [A.M.] :- This Appeal Is Filed By The Assessee Against The Order Of The Addl/Jcit (A)-2 Delhi, [Cit(A)] Dated 28.02.2025 Passed U/S. 250 Of The Income-Tax Act, 1961 [Hereinafter Referred To As “Act”] For Assessment Year 2023-2024. 2. The Assessee Has Raised The Following Grounds In This Appeal.

3) of the Act. While issuing intimation u/s. 143(1) of the Act, the CPC disallowed the utilisation of the accumulated funds on the ground that the prescribed period had expired in view of the amendment made by the Finance Act, 2022. As per the new restriction brought in by the amendment, the amount accumulated u/s. 11(2) is required

PRAMOD RATAN PATIL,THANE vs. ASST CIT CIR 3, KALYAN

In the result, Appeal of Ld AO is dismissed, appeal of assessee is allowed partly

Bench: Shri Prashant Maharishi, Am & Ms. Kavitha Rajagopal, Jm Shri Pramod Ratan Patil Acit A–1, Chandresh Oasis, Lodha Circle–3, Kalyan, 2 Nd Floor, Heaven, Vs. Kalyan Shil Road, Dombivali (East), Rani Mansion, Murbad Road, Thane–421201 Kalyan West–421301 (Appellant) (Respondent) Pan No. Aadpp6274F Acit Shri Pramod Ratan Patil Circle–3, A–1, Chandresh Oasis, Lodha Kalyan, 2 Nd Floor, Heaven, Vs. Rani Mansion, Murbad Road, Kalyan Shil Road, Dombivali (East), Kalyan West–421301 Thane–421201 (Appellant) (Respondent) Assessee By : Mr. Satyaprakash Singh, Ar Revenue By : Mr. Nihar Ranjan Samal, Dr

Disallowance charges under by invoking section 37 the provisions of section 40 A (3) of Rs. 2,91,330/– 2 Hiring charges ₹ 6,302,742 Nil Enhancement under section 37 on account of cash payment under section 40A (3) in hiring charges ₹ 85,000/– 3 Unproved 2,87,26,562 Rs. purchases under 2, 11

ASST CIT 3, MUMBAI vs. PRAMOD RATAN PATIL, MUMBAI

In the result, Appeal of Ld AO is dismissed, appeal of assessee is allowed partly

Bench: Shri Prashant Maharishi, Am & Ms. Kavitha Rajagopal, Jm Shri Pramod Ratan Patil Acit A–1, Chandresh Oasis, Lodha Circle–3, Kalyan, 2 Nd Floor, Heaven, Vs. Kalyan Shil Road, Dombivali (East), Rani Mansion, Murbad Road, Thane–421201 Kalyan West–421301 (Appellant) (Respondent) Pan No. Aadpp6274F Acit Shri Pramod Ratan Patil Circle–3, A–1, Chandresh Oasis, Lodha Kalyan, 2 Nd Floor, Heaven, Vs. Rani Mansion, Murbad Road, Kalyan Shil Road, Dombivali (East), Kalyan West–421301 Thane–421201 (Appellant) (Respondent) Assessee By : Mr. Satyaprakash Singh, Ar Revenue By : Mr. Nihar Ranjan Samal, Dr

Disallowance charges under by invoking section 37 the provisions of section 40 A (3) of Rs. 2,91,330/– 2 Hiring charges ₹ 6,302,742 Nil Enhancement under section 37 on account of cash payment under section 40A (3) in hiring charges ₹ 85,000/– 3 Unproved 2,87,26,562 Rs. purchases under 2, 11

THE GEM & JEWELLERY EXPORT PROMOTION COUNCIL,MUMBAI vs. ASST CIT (E) RG 2(1), MUMBAI

In the result, all the appeals of the assessee are allowed for 10

Bench: Shri Om Prakash Kant () & Shri Rahul Chaudhary () Assessment Year: 2012-13 & Assessment Year: 2013-14 The Gem & Jewellery Export Acit (Exemptions) Range- Promotion Council, 2(1), Vs. Tower-A, Aw-1010, G Block, 5Th Floor, Room No. 519, Bharat Diamond Bourse, Piramal Chambers, Lalbaug, B.K.C., Bandra East, Mumbai-400012. Mumbai-400051. Pan No. Aaatt 3202 H Appellant Respondent Assessment Year: 2014-15 The Gem & Jewellery Export Dcit (Exemptions) Range- Promotion Council, 2(1), Tower-A, Aw-1010, G Block, Vs. 5Th Floor, Piramal Chambers, Bharat Diamond Bourse, Lalbaug, B.K.C., Bandra East, Mumbai-400012. Mumbai-400051. Pan No. Aaatt 3202 H Appellant Respondent

Section 2(15). indicated by proviso (ii) to Section 2(15). 174. The insertion of Section 13(8)144 , the seventeenth 74. The insertion of Section 13(8)144 , the seventeenth 74. The insertion of Section 13(8)144 , the seventeenth proviso to Section 10(23C) and third proviso to Section proviso to Section 10(23C) and third proviso

ROMAN CATHOLIC CHURCH OF ST. PAUL,MUMBAI vs. ITO EXEM.WARD 2(2), MUMBAI

In the result, the appeal by the assessee is treated as allowed for statistical purposes

Bench: Shri Sandeep Gosain & Shri Girish Agrawalassessment Year: 2023-24 Roman Catholic Church Of St. Income Tax Officer (Exem.), Paul Ward 2(2) St Paul Church, Vs. Dr. Ambedkar Road, Dadar, Mumbai - 400014 (Pan : Aaatr2742L) (Appellant) (Respondent)

section 11 1 2016-17 24-Oct-2017 37,00,000 5 37,00,000 0 0 2 2017-18 27-Oct-2018 38,00,000 5 17,50,412 20,49,588 20,49,588 3

SHRI CHINTAMANI PARSHWANATH SHWETAMBAR MURTIPUJAK JAIN SANGH,MUMBAI vs. EXEM. WARD 2(3), MUMBAI, MUMBAI

In the result, appeal of the assessee is allowed

Bench: SHRI PAWAN SINGH (Judicial Member), SHRI GIRISH AGRAWAL (Accountant Member)

section 11(3) of the Act and in raising a demand of 24,38,000/- without assigning the reasons for doing so, which is against the principles of natural justice and is wrong and contrary to the provisions of the Income- tax Act, 1961 and the Rules made thereunder. 2.1. The sole issue raised by the assessee in this appeal

SHRI RENUKAMATA MULTI-STATE CO-OPERATIVE URBAN SOCIETY LTD,MUMBAI vs. ASSISTANT COMMISSIONER OF INCOME TAX, CENTRAL CIRCLE 4(4), MUMBAI

11,035 is bad in law and ought to be deleted\n8. Disallowance under section 40A(3) of Rs 2,37,52,201\n8.1

M/S RENUKAMATA MULTI STATE CO-OP. URBAN CREDITN SOC. LTD.,MUMBAI vs. THE ASSTT. CIT, CC-4(4), MUMBAI

In the result, the appeal by the assessee is partly allowed, while the\nappeal by the Revenue is dismissed

11,035 is bad in law and ought to be deleted\n8. Disallowance under section 40A(3) of Rs 2,37,52,201\n8.1

JCIT (OSD), CC-4(4), MUMBAI vs. M/S. SHRI RENUKAMATA MULTI-STATE COOPERATIVE URBAN CREDIT SOCIETY LTD., AHAMEDNAGAR

11,035 is bad in law and ought to be deleted\n8. Disallowance under section 40A(3) of Rs 2,37,52,201\n8.1

M/S RENUKAMATA MULTI STATE CO-OP. URBAN CREDITN SOC. LTD.,MUMBAI vs. THE ASSTT. CIT, CC-4(4), MUMBAI

11,035 is bad in law and ought to be deleted\n\n8. Disallowance under section 40A(3) of Rs 2,37,52,201\n\n8.1

RAMKRISHNA BAJAJ CHARITABLE TRUST,MUMBAI vs. DEPUTY COMMISSIONER OF INCOME-TAX, CIRCLE 26(1), MUMBAI, MUMBAI

Bench: Shri Amit Shukla, Jm & Shri Arun Khodpia, Am

disallowed the exemption under section10(34) of the IT Act claimed in respect of dividend income by the assessee. 4 Ramkrishna Bajaj Charitable Trust 3. Being aggrieved with the aforesaid order under section 143(3), the assessee preferred an appeal before the First Appellate Authority (FAA), but the again the contentions raised before the ld. CIT(A) could not succeed

LIONS CLUB OF MALAD BORIVALI CHARITY TRUST,MUMBAI vs. CIT EXEMPTIONS, MUMBAI

In the result, the appeal filed by the assessee is dismissed

Bench: Shri Kuldip Singh () & Shri Om Prakash Kant () Assessment Year: 2017-18 Lions Club Of Malad Borivali Cit Exemptions, Charity Trust, 601,6Th Floor, Cumballa Hills, Pd Lions College, Sv Road, Vs. Mumbai-400026. Sunder Nagar, Malad West, Mumbai-400064. Pan No. Aaatl 1407 C Appellant Respondent Assessee By : Mr. Shankarlal Jain, Ar Revenue By : Ms. Shailja Rai, Cit-Dr Date Of Hearing : 24/08/2022 Date Of Pronouncement : 27/09/2022

11 of the Act. The assessment u/s 143(3) of the Act was completed by the was completed by the Assessing Officer on 30.11.2019, Assessing Officer on 30.11.2019, wherein, he accepted the return of income filed by the assessee. accepted the return of income filed by the assessee. 5.1 Subsequently, the Ld. CIT(E) called for the record and after

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

disallowed the exemption on two violations viz. violation of section 13(1)(d)(iii) and section 13(2)(h). So far as the conditions required to be fulfilled u/s 13(1)(d)(iii) are concerned any income from the shares in a company other than public sector company or shares prescribed or form of investment under clause