TMI Blog2022 (4) TMI 324X X X X Extracts X X X X X X X X Extracts X X X X ..... ld reveal that the assessee has erroneously calculated the alleged interest income which is not supported by any documentary evidence. On the other hand, the interest income discernable from the LIC Certificate is of a lesser amount. Therefore, we deem it appropriate to remit this issue to the file of the Assessing Officer for a fresh adjudication. AO would calculate the interest income earned by the assessee-Trust and thereafter make a disallowance. While doing so, ld. AO will grant sufficient opportunity of hearing to the assessee. Appeal of the assessee is allowed for statistical purposes. - I.T.A. No. 2265/KOL/2019 (Assessment Year: 2016-2017) - - - Dated:- 22-3-2022 - Shri Rajpal Yadav, Vice-President (KZ) And Shri Girish Agrawal , ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 3. Appeal to the ld. CIT(Appeals) did not bring any relief to the assessee. 4. Ld. Counsel for the assessee admitted the fact that at present the assessee is not in a position to submit the certificate contemplated under section 10(25(Iv) of the Income Tax Act. He submitted that though the Trust came into existence on 16.03.1990 but somehow it has misplaced the certificate issued under section 10(25)(iv) of the Income Tax Act. He further submitted that the Trust has made investment of its total Provident Fund in Life Insurance Corporation of India and a certificate to this effect from LIC is available on page no. 2 of the paper book. He took us through this page and contended that the total value of the fund is of ₹ 11,54,37,98 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the trustees on behalf of an approved superannuation fund; (iv) any income received by the trustees on behalf of an approved gratuity fund; (v) any income received- (a) by the Board of Trustees constituted under the Coal Mines Provident Funds and Miscellaneous Provisions Act, 1948 (46 of 1948), on behalf of the Deposit - linked Insurance Fund established under sect ion 3G of that Act; or (b) by the Board of Trustees constituted under the Employees Provident Funds and Miscellaneous Provisions Act, 1952 (19 of 1952), on behalf of the Deposit - linked Insurance Fund established under section 6C of that Act ; ] (25A) any income of the Employees State Insurance Fund set up under the provisions of the Employees State I ..... X X X X Extracts X X X X X X X X Extracts X X X X
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