TMI Blog2022 (9) TMI 788X X X X Extracts X X X X X X X X Extracts X X X X ..... e Ld. CIT(A) does not require interference. Purchase of gold, the assessee filed list of thirty name of the students with each engineering division and with their percentage of mark who were been awarded with gold medals which is available at page no. 41 of the Paper Book. Therefore the factual finding recorded by the Ld. CIT(A) is not being contravented by the ld. D.R. with appropriate records. Therefore the findings of the Ld. CIT(A) on this ground does not require any interference. Payment made to Chandansingh CIT(A) has observed that the payment is made for construction work on which TDS has been deducted and a fresh confirmation with signature of the contractor and his PAN No. etc. have been submitted and the amount is incurred f ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... order passed under section 143(3) of the Income Tax Act, 1961 (hereinafter referred to as the Act ) relating to the Assessment Year (A.Y) 2014- 15. 2. The brief facts of the case is that the assessee is charitable trust and has carried out educational activities running schools and colleges of different streams at Himmatnagar, Dist. Sabarkantha. The assessee trust has been granted registration U/s. 12A(a) since July 2007 and also obtained approval u/s. 80G(5) of the Act since May 2008. For the Assessment Year 2014- 15, the assessee filed Nil Return. The case was selected for scrutiny assessment. 2.1. On perusal of the Balance Sheet, the Assessing Officer found the Assessee trust had paid Rs. 10 Lacs as advance to Kapila Infratech Pv ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ed for a remand report from the assessing officer. The ld. Assessing Officer reiterated the assessment orders and confirmed the additions made thereon and denying exemption u/s. 11 12 of the Act. The assessee vide its rejoinder stated that produced the copies of the recovery proceedings with Kapila Infratech Pvt. Ltd. 3.1. Regarding purchase of 50 gms. of gold purchased by the management only for the purpose of giving medals to meritorious students. The same cannot be doubted since the gold was purchased one year in advance because of the lower rate of gold, the same cannot be treated as an investment, but the intention of purchasing the gold was to award the gold medals to the meritorious students, which is part and parcel of the obje ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ified in making the addition. Similarly the donation of Rs. 1,88,500/- which was paid to various trusts/institutions, for which the assessee has proved the genuineness of the payments, together with the receipts and explanation under which clause of the constitution of the assessee trust the amount paid has direct nexus. Therefore, it cannot be said that the same amount was not applied for the objectives of the trust and hence the same amount cannot be treated to be incurred in violation of section 11 and accordingly this ground of appeal is also allowed. 4. Aggrieved against the same, the revenue is in appeal before us raising the following Grounds of Appeal: 1. The Ld CIT(A) has erred in the law and on facts in allowing the benefit ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... issioner of Income-tax (Appeals) may be set aside and that of the Assessing Officer be restored. 9. The Revenue craves to add, alter, amend, modify, substitute, delete and/or rescind all or any Grounds of Appeal on or before the final hearing, in necessity so arises . 5. The Revenue filed three sets of Paper Books running to 651 pages which are nothing but the notices issued by the A.O., replies filed by the assessees, notice issued u/s. 133(6), assessee s reply assessment order, etc.. The Ld. D.R. supported the order passed by the Assessing Office and pleaded to allow the Revenue s appeal. 5.1. Per contra, the ld. Counsel for the assesse filed a Paper Book consisting of 55 pages, consisting of Annual Reports and Statement of Inc ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... is available at page no. 38 of the Paper Book. This is not disputed by the Ld. D.R., therefore the finding recorded by the Ld. CIT(A) does not require interference. 6.1. Regarding purchase of gold, the assessee filed list of thirty name of the students with each engineering division and with their percentage of mark who were been awarded with gold medals which is available at page no. 41 of the Paper Book. Therefore the factual finding recorded by the Ld. CIT(A) is not being contravented by the ld. D.R. with appropriate records. Therefore the findings of the Ld. CIT(A) on this ground does not require any interference. 6.2. Regarding the payment made to Chandansingh, the Ld. CIT(A) has observed that the payment is made for constructio ..... X X X X Extracts X X X X X X X X Extracts X X X X
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