Search Results Page
Search Results
1 - 5 of 5 (0.18 seconds)Commissioner Of Income-Tax vs Sarladevi Sarabhai Trust-No. 2 on 29 March, 1988
5. Being aggrieved, the Revenue filed an appeal to the Tribunal. By
the impugned order dated 15th July, 2015, the Tribunal dismissed the
Revenue's appeal. This by upholding the finding of the CIT(A) inter
alia placing reliance upon the decision of Gujarat High Court in CIT Vs.
Sarladevi Sarabhia Trust No.2 (1988) 172 ITR 698 where on almost
identical facts, by relying upon the CBDT instruction No.1132 dated 5 th
January, 1978 issued by the CBDT that utilization of the funds by
making donations to another Trust would amount to application of
income within the meaning of Section 11 of the Act. It further held that
no case of diversion of income involving infringement of provisions of
Section 13 of the Act was made out.
Section 12 in The Income Tax Act, 1961 [Entire Act]
Section 13 in The Income Tax Act, 1961 [Entire Act]
Section 260A in The Income Tax Act, 1961 [Entire Act]
1