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2013 (12) TMI 1542 - AT - Income TaxExemption under Section 11 - Held that:- The assessee-trust has not proved its case for seeking exemption under Section 11 of the Act by producing any details of expenditure incurred by the assessee-trust on various activities undertaken to achieve its objects before the Revenue Authorities as well as before us till the closing of hearing of the present appeals. Therefore, we hold that the learned First Appellate Authority has wrongly deleted the addition made by the Assessing Officer in the assessment order dated 30.12.2008 by passing the impugned order, which deserves to be cancelled and accordingly we cancel the impugned order dated 25.09.2009 passed by learned CIT(A), Jalandhar, by holding that the construction of building of the medical institute for a long period, leaving behind the main object of the assesseetrust, does not qualify the assessee-trust for exemption under Section 11 of the Act and the same has rightly been brought to tax by the Assessing Officer, as per the provisions of the Act by making the additions of ₹ 1,72,80,372/- on account of interest income; ₹ 36,282/- for other receipts; and ₹ 25 crore as capital receipts for the year under consideration. - Decided in favour of revenue.
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