...to one of the investments under section 11(5), was rightly declined exemption under section 80G of the Act for the year 1999–2000.7. While the decisions of the Supreme Court relied on...) and section 11(5) does not arise at all. In other words, Rs. 25,000 being part of the balance 25 per cent, of income which remained invested in investments other than those referred to in...13(1)(d) which has overriding effect makes it mandatory for the trust to invest the entire left over funds after meeting the expenditure in any of the modes of investments provided under...

...the reasons that we have already held that deposits with Patsanstha (credit Co-operative society) are eligible investments under section 11(5)(iii) of the Act. This aspect...business of banking and thus, the investments were in accordance with the provisions of section 11(5) and hence, there was no violation of section 13(1)( d...the Act. (2) The learned CIT(A) erred in holding that the deposits with Dr. Dada Gujar Co-operative Patsanstha Ltd. were not covered under section 11(5)( iii) and hence, the assessee trust...

...pertaining to investments under section 11(5) of the Act before the Ld. CIT(A) on being asked and referred to pages 60-65 of the Paper Book. It is his contention that the Ld. CIT(A) did not ask for...specified modes of section 11(5), for the year under consideration, are as under- Investment details u/s 11(5) for the AY 2021-22...denial of benefit of balance claim of Rs. 9,05,58,182/- on account of non- accumulation of funds under section 11(5) of the Act, that the assessee is in appeal before the Tribunal and all the grounds...

...deposits with the Devi Films Private Limited, were not approved investments under section 11(5) of the Act read with section 13(1)(d) of the Act. The first appellate authority...abovesaid deposits with Devi Films Private Limited had been substituted by approved form of investments as prescribed under section 11(5) of the Act at least later, that is, on or before March 31, 1992...violation of section 11(5) of the Act. In that view of the matter, he dismissed the appeals preferred by the assessee. The assessee, as referred to by the Assessing Officer as well as by the...

...purpose. The accumulated amount has been deposited in specified investments under section 11(5). The mere fact that the amount actually spent during a particular year is very low is not a ground for...(Appeals) confirming denial of exemption under section 11(2) of the Income-tax Act, 1961 and assessment of income at Rs. 4,87,600 for the assessment year 1995-96 and Rs...Rs. 6,25,752 and Rs. 8,47,274 by way of rent and interest respectively for the assessment years 1995-96 and 1996-97. The assessments were completed on 17-3-1998 and 27-11-1998 fixing the taxable...

...makes it mandatory for the trust to invest the entire left over Page 7/13 / funds after meeting the expenditure in any of the modes of investments provided under Section 11(5) of the Act. Even in a case...in Section 11(5). The petitioner admittedly having kept Rs. 25,000 in deposit in a private company till March 31,1999, after which it has shifted it to one of the investments under Section ...remained invested in investments other than those referred to in Section 11(5) it does not disentitle the petitioner to the exemption is the contention of the petitioner. The scheme of Section 11...

...investments under Section 11(5) of the Act. Hence it resulted in violation of the nature specified in Section 13(1)(d) of the Act. Therefore, according to her, excess of income over expenditure of the...Section 11(5) of the Act. The question of denial of exemption under Section 11 would arise only if investments were there. We are, therefore, of the opinion that assessee could not have b...assessee. 11. Therefore, in our opinion, the lower authorities fell in error in concluding that such subscriptions were investments which violated the modes specified under...

...investments under Section 11(5) of the Act. Hence it resulted in violation of the nature specified in Section 13(1)(d) of the Act. Therefore, according to her, excess of income over expenditure of the...Section 11(5) of the Act. The question of denial of exemption under Section 11 would arise only if investments were there. We are, therefore, of the opinion that assessee could not have b...assessee. 11. Therefore, in our opinion, the lower authorities fell in error in concluding that such subscriptions were investments which violated the modes specified under...

...investments under Section 11(5) of the Act, which includes an investment in the immovable property, if such income is applied for purchase of immovable property for serving the cause and objects of the sai...(2)(b) of the Act for accumulation of the income by filing requisite declaration in Form No.10 for the same and did not invest the same in the prescribed modes under Section 11(5) of the Act, the...the Assessee Trust was not entitled to exemption under Section 11(1)(a) of the Act for the assessment year 2001-2002 in respect of Rs.52.00 lakhs spent by it for purchasing the leasehold rights in...

...first accumulating its income and then applying the same in the specified investments under Section 11(5) of the Act, which includes an investment in the immovable property, if such income is applied...procedure of Section 11(2)(b) of the Act for accumulation of the income by filing requisite declaration in Form No. 10 for the same and did not invest the same in the prescribed modes under Section 11(5) of...entitled to exemption under Section 11(1)(a) of the Act for the assessment year 2001-2002 in respect of Rs. 52.00 lakhs spent by it for purchasing the leasehold rights in respect of the immovable...

...or not, for first accumulating its income and then applying the same in the specified investments under Section 11(5) of the Act, which includes an investment in the immovable property, if such...Form No.10 for the same and did not invest the same in the prescribed modes under Section 11(5) of the Act, the Tribunal was justified in restoring the order passed by the Assessing Officer and...the first Appellate Authority, Commissioner of Income Tax (Appeals), and held that the Assessee Trust was not entitled to exemption under Section 11(1)(a) of the Act for the assessment year 2001-2002...

...deposit, caution money and child personal money from its students and the same were invested in the fixed deposits with the scheduled banks or in eligible investments under section 11(5) ...Consortium Finance and Leasing Ltd. were stated to be investment in modes other than the modes specified in section 11(5) of the I.T. Act. It was urged that section 10(22) does...assessment years 1990-91 and 1992-93.4.That Society was indulging in various non-educational activities such as making speculative investments with motive to earn higher profit. Such...

...Commissioner of Income-tax (Appeals) failed to appreciate that consent cannot confer jurisdiction to the learned Assessing officer to disallow the investments under section 11(5) of the...(Exemptions), Circle -1, Bangalore. The learned Assessing officer held that the assessee had made investments in contravention to the provisions of section 11(5) of the Act and consequently disallowed a sum...whether the entire amount of Rs. 84,35,390/- is liable for disallowance under section 11(5) of the Act. The assessee placed reliance on the following decisions:- a...

...Assessing Officer passed the assessment orders, for the assessment years under consideration, denying exemption under section 11, on the ground that the assessee made investments in violation of section 13...the four previous years; and hence, the assessing officer denied exemption under section 11 for the reason that the investments were made in violation of section 13(1)(d) r/w section 11(...appearing for the respondent/assessee contended that till 1998, the assessee was availing exemption under section 10(22), which provision did not impose any restrictions that any of the investments have to be made according...

..., instead of utilizing the sale proceeds for school buildings etc, and, without keeping the said proceeds in the investments specified under Section 11(5) of the Act, had lent a major portion of the sale...investing the proceeds only in the modes specified in Section 11(5) would apply only to the properties of a charitable institution under Section 11, and not to an educational institution under Section 10(22...should be invested or deposited in the forms or modes specified in Sub-Section (5). Section 11(5) provides that the forms and modes of investing or depositing the money...

...the Act. In the context of Section 10(22) of the Act, there was no necessity that investments of surplus had to be made in any of the modes prescribed under Section 11(5) of the Act. Hence, assessees...compulsive method of investments, as stipulated under Section 11(5) of the Act. We are of the opinion that ld. CIT(Appeals) as well as A.O. fell in error in considering assessee to have violated the...Liquidator to be investment made by the assessee. The question of application of Section 11(5) of the Act would arise only if there were any investments by the assessee. As already noted by us, earlier...

...investments in the modes permitted under section 11(5) of the Act and had thus violated section 13(1)(d) of the Act.3. The Assessing Officer observed in his ord...observed that these two investments were made contrary to the mandate of section 11(5) of the Act. The Assessing Officer also observed that the advance given to Business India should be treated as...violation of section 11(5) in the facts of the present case.7. With regard to the advance of Rs. 1,10,000, the Commissioner of Income-tax (Appeals) has observed that the same was paid by...

.../Mds/09 11 in earlier years, the payment made to M/s Guardian Chit Funds was not relevant since the said Section did not provide any compulsive method of investments, as stipulated under Section ...mode of investment specified under Section 11(5) of the Act. Having not done so, assessee cannot say that it was eligible for exemption under Sections 11 and 12 of the Act. As per the learned D.R...in any of the modes prescribed under Section 11(5) of the Act. Hence, assessees investment in M/s Guardian Chit Funds, during the period when it was enjoying exemption under Section 10(22) of the Act...

.../Mds/09 11 in earlier years, the payment made to M/s Guardian Chit Funds was not relevant since the said Section did not provide any compulsive method of investments, as stipulated under Section ...mode of investment specified under Section 11(5) of the Act. Having not done so, assessee cannot say that it was eligible for exemption under Sections 11 and 12 of the Act. As per the learned D.R...in any of the modes prescribed under Section 11(5) of the Act. Hence, assessees investment in M/s Guardian Chit Funds, during the period when it was enjoying exemption under Section 10(22) of the Act...

...that the assessee, instead of utilizing the sale proceeds for school buildings etc., and, without keeping the said proceeds in the investments specified under section 11(5) of the Act, had lent a...requirement of investing the proceeds only in the modes specified in section 11(5) would apply only to the properties of a charitable institution under section 11, and not to an educational institution under...or deposited in the forms or modes specified in sub-section (5). Section 11(5) provides that the forms and modes of investing or depositing the money, referred to in...