TMI Blog2006 (2) TMI 107X X X X Extracts X X X X X X X X Extracts X X X X ..... amendments or alter the objects of the trust deed under section 92 of the Civil Procedure Code?" - we have no reason to interfere with the order of the Tribunal and accordingly, the appeal stands dismissed - - - - - Dated:- 20-2-2006 - Judge(s) : P. D. DINAKARAN., P. P. S. JANARTHANA RAJA. JUDGMENT The judgment of the court was delivered by P.D. Dinakaran J.-This appeal is directed agai ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rred to as "the Act") was set aside by the Commissioner of Gift-tax under section 24(2) of the Act by an order dated February 6,1992, with a direction to compute the taxable gift accordingly. The trust was denied exemption under section 11 of the Income-tax Act for various years taking notice of certain offending clauses in the trust deed dated June 25,1968, which necessitated the assessee trust t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tion under section 45(e) of the Act for the assessment year 1985-86, the assessee preferred an appeal before the Commissioner of Gift-tax (Appeals) by relying on a decision in the case of CIT v. Kamla Town Trust reported in [1996] 217 ITR 699 (SC). But the Commissioner of Gift-tax (Appeals) dismissed the appeal holding that the amendment had only prospective effect and not retrospective effect. He ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... income of the trust was not entitled to exemption under sections 11 and 12 of the Income-tax Act for the assessment years prior to the date of the decree. In the instant case, the date of the decree is April 29, 1981. It is not in dispute that the Income-tax Appellate Tribunal, while passing the order under the Income-tax Act with regard to the assessment years 1982-83, 1983-84 and 1984-85, fol ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... efore clear that the assessment under the Income-tax Act for the assessment years 1982-83, 1983-84 and 1984-85 stands concluded, as referred to above, and hence the Tribunal is right in applying the ratio laid down in the case of CIT v. Kamla Town Trust reported in [1996] 217 ITR 699 (SC) for the assessment under the Gift-tax Act for the assessment year 1985-86 in consequence of the assessment mad ..... X X X X Extracts X X X X X X X X Extracts X X X X
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