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2021 (11) TMI 1190 - HC - Income TaxAddition on account of cash donation collected outside the books of accounts - presumption cast against the assessee u/s 292C r.w.s. 132(4A) to explain plethora of evidence seized during the search from residence of Principal Trustee of assessee society ? - HELD THAT:- Question (i) is framed as under :- Whether in the facts and the circumstances of the case, ITAT was right in deleting the addition as added by the AO relying on documents found during the search at the residence of Principal Trustee of Respondent – Society ? Registrar (Judicial) / Registrar, High Court, Original Side, Bombay to ensure that the original record in relation to this Appeal is summoned from the Tribunal and offered for inspection of the parties. This paper book is treated sufficient for the purpose of admission of this Appeal. However, the Registry must further ensure preparation of complete paper book in accordance with the rules. The registry in the first instance must send intimation of admission of this Appeal enclosing therewith a copy of this order so as to enable the Tribunal to act accordingly. Assessment of trust - Violation of Section 13(1)(d) subjected to maximum marginal rate - ITAT holding that violation of conditions under Section 13(1)(d) would not result in denial of exemption on the whole income and denial be restricted to the income in violation of provisions of Section 13(1) - HELD THAT:- We are not inclined to entertain the same inasmuch as by Finance Act, 1984 – Circular No.387 dated 06/07/1984 issued by the Income Tax Department, Government of India, at 28.6, it is mentioned “In other words, where such a trust contravenes the provisions of section 13(1) or (d) of the Act, the maximum marginal rate of income-tax will apply only to that part of the income which has forfeited exemption under the said provisions”. Copy of the said circular that was tendered by the learned Senior Advocate appearing for Respondent is taken on record and marked ‘X’ for identification.
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