beneficiary as his own income or to treat it as the income of
the trustee on behalf of the beneficiary. It was further observed ... note that before the insertion of Chapter - XIIEA, the income
earned from the securitisation trust was taxable at Maximum Marginal Rate of
30% by virtue
words "convertible foreign exchange, to the extent such income accrued or arisen to, or is received in respect of units held by a non-resident ... India) and where such income otherwise does not accrue or arise in India or any income from a securitisation trust which is chargeable under
words "convertible foreign exchange, to the extent such income accrued or arisen to, or is received in respect of units held by a non-resident ... India) and where such income otherwise does not accrue or arise in India or any income from a securitisation trust which is chargeable under
Income Tax Act,
1961 , the Recovery of Debts Due to Banks and
Financial Institutions Act, 1993 , the Finance Act,
1994 , the Securitisation and Reconstruction
circumstances of the case and in law,
the Ld CIT(A) erred in deleting the addition of Rs. 3,54,62,46s/- merely
following ... captioned
income is evidently business income?."
5
ITA No.4789/Mum/2017 and other appeals
Indian Corporate Loan Securities Trust 2008
5. Since
provisions of law including possession of the
concerned secured asset under The Securitisation and
Reconstruction of Financial Assets and Enforcement of
Securities Interest ... preceding two and a half months there has been no income
at all for the petitioner. Reference is made to a circular dated
22.05.2020 issued
made by the SR holders is 'revocable' and hence the
income needs to be taxed in the hands of the SR holders ... Mumbai Tribunal in the case of Indian Corporate
Loan and Securitisation Trust - 2008 Series 14 in lTA no. ITA Nos.
3986&4343/Mum/2013
property of the borrower.
112. Under Section 13(1) of the Securitisation Act, limited
primacy has been given to the right of a secured creditor ... behalf cannot
sell the mortgaged property or appoint a receiver of the
income of the mortgaged property or any part thereof in
a manner which
property of the borrower.
112. Under Section 13(1) of the Securitisation
Act, limited primacy has been given to the
right of a secured creditor ... behalf
cannot sell the mortgaged property or appoint a
receiver of the income of the mortgaged
property or any part thereof in a manner which
enactment in question and had condoned
the delay by entertaining the Securitisation Application, contrary
O.P (DRT) No.73 of 2018 16
to the fundamental ... this purpose, he placed
reliance on the judgment in Commissioner of Income Tax
and Others v. Chhabildass Agarwal reported
