NAGESHWARA CHARITABLE TRUST,NAGPUR vs. CIT EXEMPTION PUNE, PUNE

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

Bench: Shri S.S.Godara & Dr. Dipak P. Ripoteआयकर अपील सं. / Ita No.371/Nag/2023 िनधा"रण वष" / Assessment Year : N.A. Nageshwara Charitable The Commissioner Of Trust, V Income Tax, Exemption, 101, Laxmi Vilas Apartment, S Pune. Khare Town, Rangole Marg, Dharampeth, Nagpur, Maharashtra – 440010. Pan: Aaatn2648F Appellant / Assessee Respondent / Revenue Assessee By Shri Kapil Hirani – Ar Revenue By Shri Kailash C.Kanojiya – Cit(Dr) Date Of Hearing 18/03/2024 Date Of Pronouncement 19/03/2024 आदेश/ Order Per Dr. Dipak P. Ripote, Am: This Is Assessee’S Appeal Against The Order Of Ld.Commissioner Of Income Tax(Exemption), Pune Under Section 80G Of The Act, Dated 03.11.2022. The Ld.Cit(E) Dismissed The Application Of The Assessee On The Ground That Nageshwara Charitable Trust [A]

Charitable Trust [A] obligation, the asses-see who has sold the property should be liable to pay tax on capital gains

DY. COMMISSIONER OF INCOME TAX- CENTRAL-CIRCLE-2 (1), NAGPUR, NAGPUR vs. JAYMAHAKALI SHIKSHAN SANSTHA, WARDHA

In the result, Revenue’s appeal for A

Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member

gains of business. So far as public charitable and religious trusts are concerned, their business profits are not exempt from tax, except in the cases falling under clause (a) or clause (b) of section 11(4A) of the IT Act. As the maximum marginal rate of tax under the new proviso to section 164(2) applies to the whole

DY. COMMISSIONER OF INCOME TAX- CENTRAL-CIRCLE-2(1), NAGPUR, NAGPUR vs. JAYMAHAKALI SHIKSHAN SANSTHA, WARDHA

In the result, Revenue’s appeal for A

Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member

gains of business. So far as public charitable and religious trusts are concerned, their business profits are not exempt from tax, except in the cases falling under clause (a) or clause (b) of section 11(4A) of the IT Act. As the maximum marginal rate of tax under the new proviso to section 164(2) applies to the whole

DY. COMMISSIONER OF INCOME TAX- CENTRAL-CIRCLE-2(1), NAGPUR, NAGPUR vs. JAYMAHAKALI SHIKSHAN SANSTHA, WARDHA

In the result, Revenue’s appeal for A

Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member

gains of business. So far as public charitable and religious trusts are concerned, their business profits are not exempt from tax, except in the cases falling under clause (a) or clause (b) of section 11(4A) of the IT Act. As the maximum marginal rate of tax under the new proviso to section 164(2) applies to the whole

LOKMANYA TILAD JANAKALYA SHIKSHAN SANSTHA,NAGPUR vs. ASSISTANT COMMISSIONER OF INCOME TAX CIRCLE -2, NAGPUR

In the result, this appeal by the assessee stands partly allowed

Bench: Shri Shamim Yahya & Shri Ram Lal Negi..

capital of that concern. 7 ii) The exemption will also not be denied where the aggregate of the income and value of property diverted in favour of the specified person does not exceed Rs. 1,000/- iii) The second proviso to clause (c) of sub-section (1) of section 13 provides one exception. In the case of a religious trust

SHRI SANKET NANDLAL SARAF,,NAGPUR vs. I.T.O. WARD 1(4), NAGPUR

In the result, appeal of the assessee is allowed

capital gain of Rs.4,43,914/- during AY 2009-10. It was submitted that the assessee was co-owner of land located at Mouza Pasodi, named as Pragati Bhawan with two family members. He has sold land by agreement to sale on for Rs. 51,00,000/- with two co-owners of the property and his share in the property

SHREE SANT BHOJAJI MAHARAJ DEOSTHAN AJANSARA,WARDHA vs. COMMISSIONER OF INCOME TAX (EXEMPTION), PUNE AT NGP, NAGPUR

In the result, appeal filed by the assessee is in ITA No

Bench: Shri Pawan Singh& Shri Khettra Mohan Roy

gains and coconut and pooja donation. Books of account have been test checked vis-à-vis the vouchers, bills and supporting documents produced for examination. The assessee trust is not registered u/s. 12AA of the Income Tax Act, 1961. Hence the assessment was completed as AOP on 26.12.2017. The entire issues are duly verified and test checked by the assessing

SHREE SANT BHOJAJI MAHARAJ DEOSTHAN AJANSARA,WARDHA vs. INCOME TAX OFFICER (EXEMPTION) - 4, NAGPUR, NAGPUR

In the result, appeal filed by the assessee is in ITA No

Bench: Shri Pawan Singh& Shri Khettra Mohan Roy

gains and coconut and pooja donation. Books of account have been test checked vis-à-vis the vouchers, bills and supporting documents produced for examination. The assessee trust is not registered u/s. 12AA of the Income Tax Act, 1961. Hence the assessment was completed as AOP on 26.12.2017. The entire issues are duly verified and test checked by the assessing

SHREE SANT BHOJAJI MAHARAJ DEOSTHAN AJANSARA,WARDHA vs. INCOME TAX OFFICER (EXEMPTION) -4, NAGPUR, NAGPUR

In the result, appeal filed by the assessee is in ITA No

Bench: Shri Pawan Singh& Shri Khettra Mohan Roy

gains and coconut and pooja donation. Books of account have been test checked vis-à-vis the vouchers, bills and supporting documents produced for examination. The assessee trust is not registered u/s. 12AA of the Income Tax Act, 1961. Hence the assessment was completed as AOP on 26.12.2017. The entire issues are duly verified and test checked by the assessing

DY. COMMISSIONER OF INCOME TAX, CIRCLE-3, NAGPUR, NAGPUR vs. VINODKUMAR RAJENDRALAL KOCHHAR, KAMPTEE

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

Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member

Gains and Income from other sources & he had been regularly filing his return of income for the last 5 decades. (iii) During the captioned assessment year, the appellant had opted for computation of income U/s. 44AD in respect of his business activity and while filing online return of Income u/s. 139(1) for AY 2016-17, PART A-BS- Balance

A,C.I.T. (EXEMPTION), NAGPUR vs. M/S VIDARBHA CRICKET ASSOCIATION, NAGPUR

In the result, all the appeals of the Revenue are dismissed

Bench: Shri G.D. Agrawal & Shri Mahavir Singh

capital expenditure and other expenditure of appellant institution as per Audit statements on its objects. Considering financial statements expenditure incurred by appellant institution can not be termed as meager as observed by A.O. more so where A.O. himself at para 11 of page 9 has observed in tabulation that percentage of amount spent on cricket including establishment expenses

G.H.R. EDUCATION FOUNDATION,NAGPUR vs. CIT EXEMPTION, PUNE

In the result, assessee's appeal being ITA no

capital under the Companies Act, 2013\" as\ngoing concern under section 366 to 374 of Part-1- Chapter XXI of the\nCompanies Act, 2013 read with the companies [Authorized to be Register]\nRules, 2014 as amended from time to time, on its incorporation under the\nCompanies Act, 2013 to \"G. H. R. Education Foundation\". The assessee also\nstated that former

G. H. R. EDUCATION FOUNDATION ,NAGPUR vs. CIT EXEMPTION, PUNE

capital under the Companies Act, 2013\" as going concern under section 366 to 374 of Part-1- Chapter XXI of the Companies Act, 2013 read with the companies [Authorized to be Register] Rules, 2014 as amended from time to time, on its incorporation under the Companies Act, 2013 to \"G. H. R. Education Foundation\". The assessee also stated that former