{"id":14655,"date":"2020-12-30T07:49:26","date_gmt":"2020-12-30T07:49:26","guid":{"rendered":"https:\/\/itatonline.org\/digest\/cit-e-v-gujarat-maritime-board-no-3-2020-428-itr-177-guj-hc\/"},"modified":"2020-12-30T07:49:26","modified_gmt":"2020-12-30T07:49:26","slug":"cit-e-v-gujarat-maritime-board-no-3-2020-428-itr-177-guj-hc","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/cit-e-v-gujarat-maritime-board-no-3-2020-428-itr-177-guj-hc\/","title":{"rendered":"CIT (E) v. Gujarat Maritime Board (NO. 3) (2020) 428 ITR 177 (Guj) (HC)"},"content":{"rendered":"<p>Dismissing the appeal of the revenue the Court held that \u00a0the assessee was constituted under the Gujarat Maritime Board Act, 1981 and was engaged in the activity of administering, controlling and managing minor ports in the State of Gujarat is held to be\u00a0 entitle to exemption in respect of fees collected\u00a0 for attainment of the main object for the development of minor ports in the State of Gujarat and were not taxable is held to be not taxable . Relied on<\/p>\n<p>CIT v. Gujarat Industrial Development Corporation [2017] 83 taxmann.com 366 (Guj) and Ahmedabad Urban Development Authority v. ACIT (E ) <a href=\"http:\/\/www.taxlawsonline.com\/%5b2017%5d%20396%20ITR%200323\">[2017] 396 ITR 323<\/a>\u00a0(Guj)\u00a0 (HC )\u00a0 . Court also held that the <em>\u00a0the income of a trust was required to be computed under section\u00a011\u00a0on commercial principles after providing for allowance for normal depreciation and deduction thereof from the gross income of the trust. \u00a0and contribution to pension fund is held to be allowable ad deduction\u00a0 <\/em>( AY.2009-10 to 2013-14 )<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 11 : Property held for charitable purposes &#8211;  Statutory Corporation Constituted by  State Government with charitable objects \u2014 Entitled to exemption &#8211; Fees collected  held to be not taxable \u2013 Depreciation is held to be allowable \u2013 Contribution to pension fund is held to be allowable as deduction .[ S .2(15),  32 , 36 ] <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-14655","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-3On","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/14655","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=14655"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/14655\/revisions"}],"predecessor-version":[{"id":14656,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/14655\/revisions\/14656"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=14655"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=14655"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=14655"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}