TMI Blog2002 (10) TMI 26X X X X Extracts X X X X X X X X Extracts X X X X ..... holding that the amount utilised for construction of hospital building after the close of the accounting year can be treated as application of income in the previous year relevant to the assessment year 1987-88? - (3) Whether, Tribunal was right in law in holding that the amount lying as advance with a sister concern of the assessee can be treated as not violating the provisions of section 13(1)(d ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... f hospital building after the close of the accounting year can be treated as application of income in the previous year relevant to the assessment year 1987-88? (3) Whether, on the facts and in the circumstances of the case, the Appellate Tribunal was right in law in holding that the amount lying as advance with a sister concern of the assessee can be treated as not violating the provisions of s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... trustees are also the directors of the company and that the money had remained with the company for the whole of the year without being spent. It cannot be said on the facts of this case that the money had been applied by the assessee for charitable purpose in this year. The fact that the money, instead of lying with the assessee had laid with the sister company would not result in that amount b ..... X X X X Extracts X X X X X X X X Extracts X X X X
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