{"id":44497,"date":"2024-07-25T13:34:02","date_gmt":"2024-07-25T08:04:02","guid":{"rendered":"https:\/\/itatonline.org\/digest\/acit-v-shri-mahudi-madhupuri-jain-shwetamber-murtipujak-trust-2023-203-itd-723-107-itr-32-sn-ahd-trib\/"},"modified":"2024-07-25T13:34:02","modified_gmt":"2024-07-25T08:04:02","slug":"acit-v-shri-mahudi-madhupuri-jain-shwetamber-murtipujak-trust-2023-203-itd-723-107-itr-32-sn-ahd-trib","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/acit-v-shri-mahudi-madhupuri-jain-shwetamber-murtipujak-trust-2023-203-itd-723-107-itr-32-sn-ahd-trib\/","title":{"rendered":"ACIT v. Shri Mahudi Madhupuri Jain Shwetamber Murtipujak Trust. (2023) 203 ITD 723\/ 107 ITR 32 (SN) (Ahd) (Trib.)"},"content":{"rendered":"<p>Assessee is\u00a0 a religious trust registered under section 12A. Assessee purchased gold and silver along with silver bullion for preparation of various gold and silver ornaments for various idols of God in temple. Assessing Officer disallowed assessee&#8217;s claim of exemption under section 11 on assumption of fact that assessee had made an investment in gold and silver in violation of provisions of section 11(5)(b). Commissioner (Appeals) allowed the claim.\u00a0 Tribunal held that practice of purchasing gold and silver for making ornaments had been followed by assessee preceding years also and exemption was not disallowed in those years, in absence of any change in facts from earlier years, following principle of res judicata, exemption\u00a0 is allowed. (AY. 2016-17)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 11 :  Property held for charitable purposes-Religious trust-Purchase gold and silver for preparation of  ornaments for idols of God in temple-No violation of provision-Denial of exemption is not valid. [S.11(5)(b), 12A]   <\/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-44497","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-bzH","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/44497","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=44497"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/44497\/revisions"}],"predecessor-version":[{"id":44498,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/44497\/revisions\/44498"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=44497"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=44497"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=44497"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}