NANDLAL TOLANI CHARITABLE TRUST, MUMBAI V. ACIT CEN CIR 17 & 28, MUMBAI

ITA 1165/MUM/2012

• Counselvise Citation: [2014] 140 COUNSELVISE.COM (IT) 79425 (ITAT-MUMBAI)
• Duration Of Justice: 2 year(s) 5 month(s) 4 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 25-07-2014
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: B
• Next Hearing Date: 15-07-2014
• Assessment Year: 2008-2009
• Appeal Filed On: 20-02-2012
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Assessee Lawyers: S M AGARWAL
• Keywords: Charitable institution

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL, MUMBAI BENCH B, MUMBAI BEFORE SHRI SANJAY ARORA, ACCOUNTANT MEMBER AND DR. S.T.M. PAVALAN, JUDICIAL MEMBER ITA NO. 1165/MUM/2012 ASSESSMENT YEAR: 2008-09 NANDLAL TOLANI CHARITABLE TRUST 10-A, BAKHTAWAR, NARIMAN POINT MUMBAI 400 021 VS. ACIT CEN. CIR. 17&28 MUMBAI (APPELLANT) (RESPONDENT) PERMANENT ACCOUNT NO. :-AAATN 0043 Q ASSESSEE BY : SHRI S.M. AGARWAL REVENUE BY : SMT. AMRITA SINGH DATE OF HEARING : 16.07.2014 DATE OF PRONOUNCEMENT : 25.07.2014 O R D E R PER DR. S.T.M. PAVALAN, JM: THIS APPEAL FILED BY THE ASSESSEE IS DIRECTED AGAIN ST THE ORDER OF THE LD.CIT(A)-39, MUMBAI DATED 28.12.2011 FOR THE ASSES SMENT YEAR 2008-09. 2. IN THIS APPEAL, THE ASSESSEE HAS AGITATED THE DE CISION OF THE LD.CIT(A) IN NOT ALLOWING STANDARD DEDUCTION OF 30% FROM RENTAL INCO ME AS AVAILABLE U/S 24(A) OF THE INCOME TAX ACT AS THE ASSESSEE IS A CHARITABLE TRU ST WHICH IS CLAIMING DEDUCTION U/S 11(1)(A) OF THE ACT. 3. HAVING HEARD BOTH THE SIDES AND PERUSED THE MATE RIAL ON RECORD, IT IS PERTINENT TO MENTION THAT THE ISSUE IS SQUARELY COV ERED AGAINST THE ASSESSEE BY THE ORDER OF THE TRIBUNAL IN THE ASSESSEES OWN CASE FO R THE A.Y. 2004-05 WHEREIN SIMILAR CLAIM OF THE ASSESSEE HAS BEEN REJECTED BY THE TRIB UNAL ON THE REASON THAT THE INCOME OF A CHARITABLE TRUST IS EXEMPT FROM TAX UND ER CHAPTER III OF THE ACT AND THE SAID INCOME DOES NOT FORM PART OF THE TOTAL INCOME OF THE ENTITY. IT IS ONLY THE INCOME FORMING PART OF THE TOTAL INCOME US/ 2(45) O F THE ACT WHICH IS TO BE CLASSIFIED UNDER VARIOUS HEADS OF INCOME U/S 14. ACCORDINGLY, THE TRIBUNAL DENIED THE CLAIM OF THE ASSESSEE MADE U/S 24 OF THE ACT. IN THE SAID DE CISION, THE TRIBUNAL HAS ANALYSED ITA NO. 1165/MUM/2012 NANDLAL TOLANI CHARITABLE TRUST ASSESSMENT YEAR: 2008-09 2 VARIOUS DECISIONS OF THE APEX COURT AND THE TRIBUNA L. SINCE, SIMILAR ISSUE OF ALLOWABILITY OF THE CLAIM MADE U/S 24 HAS BEEN DENI ED BY THE TRIBUNAL IN THE ASSESSEES OWN CASE FOR THE AY 2004-05, WE ARE OF T HE CONSIDERED VIEW THAT THE PRESENT APPEAL FILED BY THE ASSESSEE DESERVES TO BE DISMISSED AND THUS THE ORDER OF THE LD.CIT(A) IS UPHELD. 4. IN THE RESULT, THE APPEAL FILED BY THE ASSESSEE IS DISMISSED . ORDER PRONOUNCED IN THE OPEN COURT ON THIS 25 TH DAY OF JULY, 2014. SD/- SD/- (SANJAY ARORA) (DR. S.T.M. PAVALAN) ACCOUNTANT MEMBER JUDICIAL MEMBER MUMBAI, DATED: 25.07.2014. *SRIVASTAVA COPY TO: THE APPELLANT THE RESPONDENT THE CIT, CONCERNED, MUMBAI THE CIT(A) CONCERNED, MUMBAI THE DR B BENCH //TRUE COPY// BY ORDER DY/ASSTT. REGISTRAR, ITAT, MUMBAI.