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2013 (1) TMI 239 - SUPREME COURTExemption under Sections 11 & 12 denied - undue advantage under the provisions of Section 80G - assessee trust treated as an AOP - assessee by way of donation received two post dated cheques from M/s Apollo Tyres Ltd. - Held that:- The post dated cheque for Rs.40 lac was given before 31st March, 2002 i.e. during the accounting year 2001-2002 and the cheque was duly honoured in April, 2002 when it was presented before the collecting bank. As the cheque had been honoured and the amount was paid to the assessee trust, the date of payment of cheque should be treated as the date on which the cheque was given. Had the cheque been dishonoured, things would have been different but as the cheque had been duly honoured, as laid down by this court in the case of The Commissioner of Income-Tax, Bombay South, Bombay vs. Messrs. Ogale Glass Works Ltd., Ogale Wadi (1954 (4) TMI 3 - SUPREME COURT) it will have to be presumed that the amount was paid on the date on which the cheque was given to the respondent assessee and, therefore, it cannot be said that any undue favour was done by the respondent-assessee to M/s Apollo Tyres Ltd - thus there was no violation of the provisions of Sections 13(2)(b) or 13(2)(h) - in favour of assessee..
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