TMI Blog2021 (8) TMI 1187X X X X Extracts X X X X X X X X Extracts X X X X ..... HAT:- Tribunal took note of the factual position, which was placed before it to establish that the remaining amount of ₹ 7.29 Crores, which was left in the hands of the assessee, was used to be adjusted against the students concession subsidy due to the assessee from the Government of Tamil Nadu in the subsequent years. The assessee was able to establish the said fact by producing a Governme ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Section 260A of the Income Tax Act, 1961 (hereinafter referred to as the Act ) is directed against the order dated 25.09.2012, made in I.T.A.No.625/Mds/2012 on the file of the Income Tax Appellate Tribunal 'C' Bench, Chennai for the assessment year 2004-05. 2.The appeal was admitted on 19.08.2013, on the following substantial question of law:- Whether under the facts and circumsta ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... provided a sum of ₹ 20.50 Crores for payment of interest on terminal benefits to be kept under a separate account and not to be utilized for any other purpose, but the assessee stated to have used the undisbursed balance of ₹ 7.29 Crores for working capital requirements. This the Assessing Officer held it to be a trading receipt and added it back to the return of income. The correctnes ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... .O.Ms.No.44 dated 24.03.2009. Taking note of the said Government Order, the appeal filed by the assessee was allowed by the Tribunal. 5.It is no doubt true that the Government Order dated 24.03.2009 was not placed before the CIT(A), when it heard the appeal and passed the order dated 20.12.2011, but there can be no denying the fact that such an order was passed. The genuinity of the stand taken ..... X X X X Extracts X X X X X X X X Extracts X X X X
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