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2009 (8) TMI 103

..... ot a trust. The Assessing Officer also made additions in respect of rental income, foreign contributions, registration charges, building funds and expenditure out of earmarked funds. The Assessing Officer also raised objection that revised Form No. 10 was not furnished with the return. – while dismissing the revenue’s appeal, We hold that Commissioner of Income-tax (Appeals) had rightly observed that: “appellant has modified Form No.10 in the course of assessment proceedings. The modified Form No. 10 has also been rejected by the Assessing Officer on the ground that there is no provision in the Act for revising Form No. 10. It was submitted that there is no specific bar prohibiting the appellant from modifying the figure of accumulation. In .....

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..... 9,288 made on account of interest earned from deposits/investments out of unutilized foreign contributions relating to the current assessment year as well as earlier assessment year(s). (b) Addition of Its. Rs. 23, 76,417 made on account of interest earned from funds earmarked for specific projects, interest earned on savings bank accounts and interest earned from FDRs. (c) Addition of Rs. 27,30,000 made on account of rental income under the head Income from house property . (d) Addition of Rs. 25,12,438 made on account of foreign contributions received. (e) Addition of Rs. 18,99,300 made on account of registration charges and buildings funds. (0 Disallowance of Rs. 67,42,583 being expenditure out of ear marked funds/current liabilities ? ( .....

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..... th the return. The Commissioner of Income-tax (Appeals) upheld the claim of the assessee, which view has been affirmed by the Tribunal. 3. We have heard learned counsel for the appellant. 4. As regards question of assessee being eligible for exemption under section 11(1) (a), irrespective of its constitution, we have dealt with the matter in our separate order passed today in I. T. A No. 939 of 2008 (CIT v. Sarvhitkari Education Society) The question raised, thus, cannot be held to be substantial question of law. 5. As regards filing of Form No. 10 after the return but before the assessment, the Commissioner of Income-tax (Appeals) observed as under: It was pointed out that the appellant has accordingly modified Form No.10 in the course of .....

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