TMI Blog2012 (9) TMI 1069X X X X Extracts X X X X X X X X Extracts X X X X ..... PER CHALLA NAGENDRA PRASAD, JUDICIAL MEMBER.- This is an appeal filed by the department against the order of the Commissioner of Income-tax(Appeals)-XII, Chennai, dated 20-12-2011 in ITA No.382/2010-11. 2. The grievance of the Revenue in this appeal is that the Commissioner of Income-tax(Appeals) has erred in holding that the assessee is entitled to the benefit of section 11 of the Inc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s in Apollo Computer Education Ltd. Therefore, the assessee by advancing the said amounts to Apollo Computer Education and to Apollo Computer Education Ltd. violated the provisions of section 13(1)(c) of the Act. The Assessing Officer stated that the managing trustee of the assessee is benefitted by the advances given to the said concerns, in which he is the proprietor and Director. 4. On appea ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r addressed by AIHMC FT to the assessee trust requesting the assessee to pay ₹ 3,50,00,000/- and ₹ 2,20,00,000/- to the concerns, namely, Apollo Computer Education and Apollo Computer Education Ltd., out of the outstanding due of ₹ 5,80,07,535/- to AIHMC FT by the assessee trust, in coming to the conclusion that there is no violation of section 13(1)(c) of the Act. The Commission ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ions. The Commissioner of Income-tax(Appeals) on examining all the aspects of the matter, came to the conclusion that there is no violation of section 13(1)(c) of the Act, since the payments made by the assessee to the concerns, in which the managing trustee is the proprietor and Director, are only to discharge the liability of the assessee and there is no benefit derived by the managing trustee o ..... X X X X Extracts X X X X X X X X Extracts X X X X
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