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2013 (7) TMI 484 - HC - Income TaxExemption u/s 10(23c)(iiiad) - Tribunal held that so long as exemption order stands, which is available under Section 10 (23c) (iii ad) the question as to how amount was spent is not of relevance for the purposes of framing assessment - Held that:- since the assessee has already been allowed exemption under Section 10 (23c) (iii ad), therefore, alternate ground taken by the assessee relating to exemption under Section 11 does not require adjudication - If the donations are questioned as doubtful and the amount advanced by the society is found to have benefitted the directors individually through bogus advances treating it to be the amount spent on constructions of building, as alleged in twelve days. Such amount can be added to the income of the directors in their individual capacity. The Commissioner of Income Tax can also on these findings give show cause notice and cancel the registration of the society granted under Section 12AA of the Income Tax Act, and withdrawn exemption - Decided against the revenue.
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