Appeal dismissed for lack of legal questions. Parties to comply with digitally signed order.

The High Court dismissed the appeal, finding no substantial question of law for consideration. The court closed the case and directed the parties to act based on the digitally signed copy of the order.

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Issues Involved:
This appeal concerns Assessment Year (AY) 2012-13. The central issue in the case is whether the amount given as unsecured loans by a trustee, later converted to contribution, should have formed the basis for exercising revisional powers.

Details of the Judgment:

Issue 1: Revisional Powers under Section 263 of the Income Tax Act
The Tribunal set aside the order passed by the Commissioner of Income Tax (Exemptions) exercising powers under Section 263 of the Act. The CIT(E) contended that the assessment was done in a "hurried and casual" manner without due application of mind. The Tribunal noted that the Assessing Officer had considered the response of the assessee before making a decision.

Issue 2: Previous Tribunal Decisions
In previous assessment years, the Tribunal had allowed the appeal of the assessee regarding denial of exemption under Section 11 of the Act due to alleged violations of specific provisions. The Tribunal emphasized that the revenue's failure to appeal against these decisions in previous years should not be held against the assessee in the present case.

Conclusion:
The High Court found no substantial question of law for consideration in the appeal and closed the case. The pending applications were also closed, and parties were directed to act based on the digitally signed copy of the order.

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