Sree Anjaneya Medical Trust vs. ACIT, Circle - 2

Parties Involved

Facts Summary

The assessee, Sree Anjaneya Medical Trust, is a charitable trust running a medical college. The trust claimed exemption under section 11 of the Income Tax Act for a corpus fund of Rs. 50 Lakh received in the year under consideration. However, the Assessing Officer (AO) disallowed the exemption as the trust did not have registration under section 12AA of the Act for the year in question. The Commissioner of Income Tax (Appeals) (CIT(A)) confirmed the AO's decision. The trust appealed against this order, arguing that the corpus fund should not be treated as income as the assessment for the year in dispute was pending at the time of registration under section 12A of the Act. The trust also noted that the revenue did not consider the corpus fund as income in the subsequent assessment year 2008-09.…

Legal Issues

• 1. Whether the learned CIT(A) erred in confirming the disallowance of exemption claimed by the assessee under section 11 of the Act.

Judgment Outcome

Decided in favour of Assessee.

Precedents Relied Upon

Similar Judgements

• ITA No.2386/Chny/2025

• M/s. Ragigudda Sri Prasanna Anjaneya Swamy vs. ITO, Ward - 2(Exemption), Bangalore

• Dr. B. G. Memorial Trust vs. ITO, Ward-1(2), Exempt, Kolkata

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• Pension and Gratuity Fund Trust H.P. Board of School Education vs. Asstt. Commissioner of Income Tax (Exemption)

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• The Vijaypur Public Carrier Operators Union vs. ACIT, Range-3, Gwalior

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• Samadarshan Trust vs. Commissioner of Income Tax (Exemption)

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