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Revision u/s 263 - Exemption u/s 11 - Receipt of corpus donation - donor itself is registered as a charitable trust/society under section 12AA of the Act. Therefore, there cannot be any doubt regarding the genuineness of the donor. Thus, the allegation of learned CIT that AO has not made proper inquiry with regard to the receipt of corpus donation is found to be contrary to facts and materials on record - AO, having passed the assessment order after conducting proper inquiry and applying his mind with due diligence - such assessment order cannot be considered to be erroneous and prejudicial to the interest of Revenue - AT
Revision u/s 263 - Exemption u/s 11 - Receipt of corpus donation - donor itself is registered as a charitable trust/society under section 12AA of the Act. Therefore, there cannot be any doubt regarding the genuineness of the donor. Thus, the allegation of learned CIT that AO has not made proper inquiry with regard to the receipt of corpus donation is found to be contrary to facts and materials on record - AO, having passed the assessment order after conducting proper inquiry and applying his mind with due diligence - such assessment order cannot be considered to be erroneous and prejudicial to the interest of Revenue - AT
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