COMMISSIONER OF INCOME TAX CHANDIGARH vs. M/S IMPROVEMENT TRUST BATHINDA

The appeals are hereby dismissed

Bench: MRS. JUSTICE LISA GILL,MR. JUSTICE DEEPAK MANCHANDA

10,97,950/- 21. The entire emphasis of the revenue is on the fact that the assessee-Trust had earned profits by selling plots. This itself cannot be a ground for denying the benefit under Section 11 of the Act, especially when it is not disputed that the selling of plots and premises by the trust is only incidental

PR. COMMISSIONER OF INCOME TAX (CENTRAL) GURUGRAM vs. M/S MAHARISHI MARKANDESHWAR UNIVERSITY TRUST

Bench: MR. JUSTICE SANJEEV PRAKASH SHARMA,MR. JUSTICE SANJAY VASHISTH

23,070.17 Less: 15% set apart or accumulated u/s 11(1)(a) : 4.02.18.461.00 Income required to be applied as per 22,79,04,609.17 Section 11(1)(a) Less: Fixed assets considered as applied towards income from properties held for charitable purposes during the year during the year 65.73.64.136.73 22,79,04,609.17 Total Taxable Income Nil Unapplied fixed assets

M/S ROCKMAN CYCLES INDS. LTD. vs. COMMR. OF INCOME TAX, LDH. AND ANR.

The appeals are allowed and impugned orders are

Bench: MS. JUSTICE RITU BAHRI,MRS. JUSTICE MANISHA BATRA

disallow such expenditure by sitting over the decision of the Board, in the absence of any specific bar created by the Statute for such expenditure. Heard learned counsel for the parties. The agreement dated 10.11.1995 would fall under Section 37 of the Act, thus, the service rendered relate to the re-arrangment of manufacturing and sale activities. Further Section