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2012 (6) TMI 542 - HC - Income TaxAddition of income from undisclosed sources - assessee claimed to have received corpus donation of ₹ 39,27,845 - Revenue appeal as against ITAT who deleted addition - Held that:- The judgment in the case of DIT (Exemption) v. Keshav Social & Charitable Foundation [2005 (2) TMI 84 (HC)] is only one aspect which the Tribunal has to keep in mind. Several other aspects, which have been referred to by the AO,that Bank statement obtained from Andhra Bank depicts that the total amount credited from the opening till 31.3.2003 was ₹ 61,52,545/- including ₹ 4,00,000/-deposited in cash and the credit amount of ₹ 61,52,545/- did not explain the corpus donation of ₹ 88,32,845/- and also did not explain the source of payment for the purchase of land and the expenses incurred towards professional payment AND considering the bank statement of M/s CGS Mani Charitable Trust depicts that they did not have sufficient funds and an amount of ₹ 49,39,926/- was received by way of pay order dated 2.7.2002 and an amount of ₹ 49,00,000/- was allegedly paid as donation to the assessee on the same date - Findings recorded by the Tribunal in the impugned order are partly factually incorrect and cannot be sustained - the order of the tribunal is bereft of reasoning, consideration and is cryptic - in favour of the appellant-Revenue
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