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1994 (7) TMI 262 - SUPREME COURTWhether the appellant is required to prove that the income derived from the sale of the books was utilised for charitable purpose? Whether the amount should be utilised during that assessment year alone and the assessee would be entitled to set apart the income for utilisation for charitable purpose before the assessment year is completed? Held that:- Appeal allowed. The necessary material has not been placed and that, therefore, an opportunity may be given to the appellant to prove that the income derived during the relevant years has been solely utilised for charitable purpose. Since the assessee is seeking an opportunity there can be no inconvenience to the Revenue to give an opportunity to the assessee to prove that the profits derived, during the relevant assessment years have been solely utilised for charitable purpose. The judgment of the High Court and that of the Tribunal and the appellate authority have been set aside.
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