Category: Income-Tax Act

Archive for the ‘Income-Tax Act’ Category


Association of Physician of India v. ADIT(E) (2021) 91 ITR 669 / (2022) 192 ITD 608 (Mum.)(Trib.)

S. 11 : Property held for charitable purposes-Proviso to section 2(15) which restricts scope of term charitable purpose applies only in respect of any other object of general utility and not in respect of relief to poor, education, medical relief, etc.-Imparting education entitle for exemption. [S. 2(15), 12A]

Ceylon Pentecostal Mission v. ACIT (2021) 214 TTJ 651 / 91 ITR 54 (SN) (Chenai)(Trib.)

S. 11 : Property held for charitable purposes–Capital gains-Reinvesting sale consideration for acquiring another capital asset-Exemption allowable-Accumulation of income-Filing Form 10 before Commissioner (Appeals)-Commissioner (Appeals) ought to have considered-Entitled to accumulation of income. [S. 11(1A), 11(2), 143(1), Form No. 10]

Ceylon Pentecostal Mission v. ACIT (2021) 214 TTJ 651 / 91 ITR 54 (SN) (Chenai)(Trib.)

S. 11 : Property held for charitable purposes–Capital gains-Reinvesting sale consideration for acquiring another capital asset-Exemption allowable-Accumulation of income-Filing Form 10 before Commissioner (Appeals)-Commissioner (Appeals) ought to have considered-Entitled to accumulation of income. [S. 11(1A), 11(2), 143(1), Form No. 10]

Karnataka State Road Transport Corporation v. ACIT (2021) 214 TTJ 355 / 207 DTR 281 / 63 CCH 59 (Bang.)(Trib.)

S. 11 : Property held for charitable purposes-Economic and efficient transport system to the public-Charging fares-Dominant object is not profit making-Entitle to exemption. [S. 2(15), Companies Act, 1956, S. 25, Road Transport Corporation Act, 1950, S. 22]

All India Fine Arts & Crafts Society v. ITO (2021) 214 TTJ 68 (Delhi)(Trib.)

S. 11 : Property held for charitable purposes-Society engaged in promotion and development of Fine Arts and Crafts in India-Entitle to exemption-Order passed without giving an opportunity of hearing-Matter remanded. [S. 2(15), 12, 251]

All India Fine Arts & Crafts Society v. ITO (2021) 214 TTJ 68 (Delhi)(Trib.)

S. 11 : Property held for charitable purposes-Society engaged in promotion and development of Fine Arts and Crafts in India-Entitle to exemption-Order passed without giving an opportunity of hearing-Matter remanded. [S. 2(15), 12, 251]

All India Fine Arts & Crafts Society v. ITO (2021) 214 TTJ 68 / 207 DTR 17 (Delhi)(Trib.)

S. 11 : Property held for charitable purposes-Society engaged in promotion and development of Fine Arts and Crafts in India-Entitle to exemption-Order passed without giving an opportunity of hearing-Matter remanded. [S. 2(15), 12, 251]

Axis Clinicals Ltd. v. Dy.CIT (2021) 211 TTJ 128 / 200 DTR 201 (Hyd.) (Trib.)

S. 10B : Export oriented undertakings-Data processing-Clinical trials-Cannot be considered as data processing-Not entitle to exemption.

Tech Mahindra Business Services Ltd. v. DCIT (2021) 91 ITR 8 (SN) (Mum.)(Trib.)

S. 10A : Free trade zone-Profits and gains-Includes all profits and gains including incidental income of undertaking-Interest Income on fixed deposits kept with Bank as margin for issuing bank guarantee-Exchange gain on dollar sales credited to profit and loss account-Entitled to deduction. [S.10B]

Tech Mahindra Business Services Ltd. v. DCIT (2021) 91 ITR 8 (SN) (Mum.)(Trib.)

S. 10A : Free trade zone-Profits and gains-Includes all profits and gains including incidental income of undertaking-Interest Income on fixed deposits kept with Bank as margin for issuing bank guarantee-Exchange gain on dollar sales credited to profit and loss account-Entitled to deduction. [S.10B]