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2017 (8) TMI 169 - AT - Income TaxApproval under section 12AA - Held that:- It is noticed that the assessee has taken a different plea that the amount accumulated during the earlier years were not distributed to various temples for the reason that approval under section 12AA for the Annadhanam Scheme of such temples were rejected and on appeal, registration was granted later. However, before the learned Commissioner of Income-tax (Appeals) taken a different contention stating that the assessee constituted as a central fund and act as a facilitator to disburse the funds from the service centre to the deficiency centre and until such disbursement act as a custodian of the funds due to the deficient centres. Hence, such funds are not exigible to the tax in the hands of the custodian. However, the assessee has not presented the details of utilisation of accumulated funds related to the assessment year 2005-06 and subsequent assessment years. Hence, we are inclined to set aside the order of the lower authorities and remit the issue in dispute to the file of the Assessing Officer for fresh consideration. It is needless to say that an opportunity of hearing to be given to the assessee to the present assessee's case. With this observation, the issue raised by the assessee in its appeal is partly allowed for statistical purposes.
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