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2016 (7) TMI 408 - HC - Income TaxAppeal admitted on following substantial questions of law to the following effect : 1. Whether on the facts and circumstances of the case and is law, the Hon'ble ITAT was justified in quashing the order u/s 263 of the I.T. Act and confirming the order u/s 143(3) of the Income Tax Officer, 3(2) Lucknow? 2. Whether on the facts and circumstances of the case and in law, the Hon'ble ITAT was justified in authenticating that the Development Fund in which receipts were in the form of Development Fees from the students, and was not the Capitation fees, as the same has not been properly enquired by the then Assessing Officer? 3. Whether on the facts and circumstances of the case and in law, the Hon'ble ITAT was justified in authenticating the Development Fund as Income as per Income & Expenditure Accounts, as the same has not been reflected in Income & Expenditure Account instead shown directly in the Balance sheet?
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