{"id":56830,"date":"2025-09-26T11:51:39","date_gmt":"2025-09-26T06:21:39","guid":{"rendered":"https:\/\/itatonline.org\/digest\/cit-v-indian-broadcasting-foundation-2025-475-itr-580-173-taxmann-com-311-delhihc\/"},"modified":"2025-09-26T11:51:39","modified_gmt":"2025-09-26T06:21:39","slug":"cit-v-indian-broadcasting-foundation-2025-475-itr-580-173-taxmann-com-311-delhihc","status":"publish","type":"post","link":"https:\/\/itatonline.org\/digest\/cit-v-indian-broadcasting-foundation-2025-475-itr-580-173-taxmann-com-311-delhihc\/","title":{"rendered":"CIT v. Indian Broadcasting Foundation (2025) 475 ITR 580 \/ 173 taxmann.com 311 (Delhi)(HC)"},"content":{"rendered":"<p>The assessee, a non-profit company registered u\/s 25 of Companies Act and under S. 12A, invested in shares of its wholly owned subsidiary BARC, also a non-profit entity. AO denied exemption under S 11 &amp; 12 alleging violation of S. 11(5) r.w.s. 13(1)(d). CIT(A) and Tribunal allowed exemption, holding the deployment of funds was mandated by Government policy and TRAI recommendations, not for profit. Dismissing Revenue\u2019s appeal, the High Court held that deployment of funds was not an \u201cinvestment\u201d but an application in furtherance of assessee\u2019s charitable objects. BARC, being a s. 25 company, could not distribute profits. Hence, no violation of s. 11(5) or s. 13(1)(d); exemption rightly allowed.(AY. 2014-15)<\/p>\n","protected":false},"excerpt":{"rendered":"<p>S. 11 : Property held for charitable purposes-Investment-Exemption-Purchase of shares of subsidiary-Non-profit entity-Pursuant to Government policy and TRAI recommendations-No violation Exemption  allowable. [S. 11(5), 12, 13(1)(d), 260A, Companies Act, 1956, S. 25]<\/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-56830","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-eMC","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/56830","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=56830"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/56830\/revisions"}],"predecessor-version":[{"id":56831,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/56830\/revisions\/56831"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=56830"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=56830"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=56830"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}