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2020 (12) TMI 680 - MADRAS HIGH COURTDenying exemption u/s 10(23C)(vi), 11 and 12 - certain advances received from another charitable trust during the financial year 2003-04 - amount was repaid to the other trust and in the course of repayment, the assessee paid excessively a sum which was recoverable from the other institution/trust - assessee contended that the amount had been given to another charitable institution for educational purposes to enable them to construct a building as part of their college and that the same could not be considered as investment and hence, the provisions of Sections 11, 12 and 13 had not been violated - HELD THAT:- There are several factual aspects, which have been missed out by the Assessing Officer to be taken into consideration and we cannot be called upon to take a decision in the abstract without examining the foundation facts for their correctness. Considering all the aspects, we deem it appropriate that the matter should be remanded to the Assessing Officer for a fresh consideration. For all the above reasons, the tax case appeal filed by the assessee is allowed, the impugned order passed by the Tribunal and the orders passed by both the Assessing Officer and the CIT(A) are set aside so far as substantial questions of law 1, 3 and 4 are concerned and the matter is remanded to the Assessing Officer for a fresh consideration
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