Allen Career Institute Vs.
JCIT, Kota
in the fixed Term Debt Fund Scheme- FMP (Fixed Maturity Plan) [wherein, the
assessee provided options for the period ... revenue.
Here it should be clear that fixed term debt fund scheme - FMP (Fixed
Maturity Plan) of mutual fund is simply an alternative of Bank
Basic Fund, the JM High Income Fund, the JM Fixed Maturity Plan, the JM Sector Series and JM G Sec Marathon Series. While devising ... High Income Fund, JM G Sec Marathon Series and JM Fixed Maturity Plan. The offer documents of each of these said schemes were individually filed
basis, that the amount of investment made in growth oriented debt/fixed maturity
plan mutual fund , which were not capable of earning any exempt income ... that foreign subsidiaries investment and the investment in debt funds or fixed
maturity plans should not be considered for the purpose of calculating the
disallowance
revenue.
Here it should be clear that fixed term debt fund scheme - FMP
(Fixed Maturity Plan) of mutual fund is simply an alternative of Bank ... mutual funds in Govt. securities, and corporate debt.
That means that fixed maturity plans, typically have no equity
component.
6
ITA NO. 620/JP/2016
2017
a. That the long-term capital gains on sale of fixed maturity plans
of Rs.2,07,40,000/- where the assessee offered ... both the CIT(A) and AO failed to understand that the fixed
maturity plans are not trading stock and hence cannot be taxed
assessee has made
investment of Rs. I crore to UTl fixed maturity Plan-yearly
series (YEMP 03/09). The payment for such investment was
made ... income escaping assessment in
respect of credit earned on maturity of UTl fixed maturity
Plan-yearly series. But same having not been done
investment in venture capital funds (the
interest of which is taxable) fixed maturity plan and investment in
equity shares of group companies based abroad
value of
investment including investment in subsidiary, Mutual fund
Investments in fixed maturity plans, bonds, shares and other
mutual funds etc. It was his contention ... argument is that if the investment in subsidiaries
and in fixed maturity plans and investment in taxable bonds
shouldbe excluded for working out disallowance
following investment in mutual funds:
Name of Plan Nature of Plan
G 148 Standard Chartered Fixed maturity - Growth ... plan
4 t h plan growth
Prudential Life Liquid institutional Plus Growth Plan
Plan
Prudential ICICI FMP series 27 Monthly Dividend re-investment plan
Plan
Vidarbha Industries Power Limited vs Maharashtra Electricity Regulatory ... on 15 September, 2020
IN THE APPELLATE
