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1 - 10 of 12 (0.50 seconds)Section 12A in The Income Tax Act, 1961 [Entire Act]
Section 12 in The Income Tax Act, 1961 [Entire Act]
Section 12AA in The Income Tax Act, 1961 [Entire Act]
Section 133A in The Income Tax Act, 1961 [Entire Act]
M/S U.P.State Bridge Corporation Ltd., ... vs Dcit, Range-6, Lucknow on 20 March, 2020
Insofar as various case laws relied upon by the assessee, we find that although
the assessee has relied upon four case laws of various benches of this Tribunal, we find
that none of the Tribunal has considered the ratio laid down by the Hon'ble Supreme Court
in the case of M/s. U.P.Forest Corporation & Another vs. DCIT(supra), while deciding the
issue and hence, we are of the considered view that those case laws are not applicable to
the facts of the present case.
The Dcit (Exemptions), Circle-2,, ... vs Ahmedbad Urban Development Authority ... on 26 July, 2023
Sec.2(15) of the Act provides that the advancement of any other object of
GPU, shall not be a charitable purpose if it involves carrying of any
activity in the nature of trade, commerce, or business or any activity of
rendering of any services in relation to any trade, commerce or business
for a cess or fees or any other consideration irrespective of the nature of
use or application or retention of the income from such activity. The
proviso further provides that the first proviso shall not apply to the
aggregate value of the receipts from the activity referred to therein is
within the specified limit in the previous year. In the present case, there
is no dispute with regard to the fact that receipts from the marriage hall
related to activities of the assessee's Trust are more than the specified
limit as per proviso to s.2(15) of the Act. Since, a gross receipt from the
activities of running marriage hall is in excess of prescribed limit, the AO
has rightly rejected exemption u/s.11 of the Act, and taxed excess of
income over expenditure under normal provisions of the Income Tax Act,
1961. This legal principle is supported by the decision of the Hon'ble
Supreme Court in the case of ACIT (Exemptions) v. Ahmadabad Urban
Development Authority (supra), where it has been clearly explained the
provisions of Sec.2(15) of the Act, and proviso provided thereto and held
that if the activity of the Trust is in the nature of GPU, then, carrying out
such activity for a fees or cess in line with trade and commerce, then,
such Trust cannot be considered as charitable trust for the purpose of
exemption u/s.11 of the Act. In the present case, the assessee is running
ITA Nos.53 to 61/Chny/2023
Ramshaimal Sahuwala & Sons Charitable Trust
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Section 147 in The Income Tax Act, 1961 [Entire Act]
The Commissioner Of Income Tax, Mysore, ... vs The Sole Trustee Lok Shikshan Trust, ... on 12 February, 1970
22. We have heard both the parties, perused the materials available on
record and gone through orders of the authorities below. We find that an
identical issue has been considered by the decision of co-ordinate Bench
in the case of Veeravel Trust(supra) wherein, the issue has been
considered in light of provisions of Sec.11, 12 & 12A of the Act, and after
considering relevant facts and also by following the decision of the
Hon'ble Supreme Court in the case of M/s. U.P. Forest Corporation & Anr.
v. DCIT in Civil Appeal No.9432 of 2003 dated 27.11.2007 held that
voluntary contribution received by a Trust with a specific direction that
forming part of corpus of the Trust is income of the trust, when the Trust
is not entitled for exemption u/s.11 of the Act. The relevant findings of
the Tribunal are as under: