TMI Blog2001 (5) TMI 13X X X X Extracts X X X X X X X X Extracts X X X X ..... e-tax (Appeals) (in short "the CIT(A)"), decided in favour of the assessee on all aspects in the Revenue's appeal for the assessment year 1995-96. The Tribunal affirmed the conclusions of the Commissioner of Income-tax (Appeals) with the following observations: "We have considered the rival submissions and the materials on the file. We are of the view that on the facts and in the circumstances of the case and for the detailed reasons given in the impugned appellate order, the learned Commissioner of Income-tax (Appeals) was justified in holding that the asses see was entitled to exemption under section 11 of the Act for the assessment year 1995-96. As noted above, the assessee is a registered society under section 12A(a) of the Act. It is ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... valid grounds for rejecting the claim of exemption under section 11 of the Act. Again, we have carefully gone through the orders of the Assessing Officer and the learned Commissioner of Income-tax (Appeals) for the assessment years 1995-96 and 1996-97 on the issue of loan to Tyagi Foundation Ind considered the submissions and contentions made by the learned Authorised Representatives of both the sides. We are of the view that the learned Commissioner of Income-tax (Appeals) was justified in holding that there was no violation of the provisions of section 13(5) in giving the loan to Tyagi Foundation. The learned Commissioner of Income-tax (Appeals) found that Tyagi Foundation was a separate registered society engaged in similar charitable ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... urred on the same was part of the charitable activities and the Assessing Officer was wrong in his view that the expenditure was incurred on non-charitable activities. The claim of depreciation allowed by the learned Commissioner of Income-tax (Appeals) for the reasons given in his impugned appellate order was also proper and justified." For the assessment year 1996-97, the assessee primarily challenged the question as to the reasonableness of salary. That plea was accepted in view of the conclusions for 1995-96. As the extracted portion of the order passed by the Tribunal goes to show the conclusions are essentially factual giving rise to no question of law. Accordingly, we do not entertain this appeal. Dismissed. - - TaxTMI - TMITax ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
