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2014 (1) TMI 485 - ITAT HYDERABADExemption u/s 11 Property purchased in the name of President of society The property is reflecting as assets in the books of society - Held that:- There was nothing on record to prove that the legal title over the land has been transferred to the assessee - The CIT(A) on considering the deed dt. 10/06/2004 evidencing the donation of land by the assessee to M/s Divine Charitable Trust and the gift deed executed by the President came to the conclusion that the assessee after paying the sums to its President has become owner of the property - Facts are not clear whether the aforesaid evidences were produced before the AO during the assessment proceeding for his consideration Also these documents have not been placed before us The matter was restored for fresh examination of documents.
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