Electronic WhatsApp evidence without authentication or independent corroboration cannot sustain an unexplained-investment addition based on third-part...
Mutual current-account transactions excluded from deemed dividend treatment where no fresh borrowing arose; unsupported unsecured-loan addition also f...
The case pertains to denial of exemption u/s 11 due to alleged violation of provisions of section 13(1)(c). The Appellate Tribunal held that as the society is notified u/s 10(23C)(iv) and registered u/s 12A(a) of the Act, the conditions u/s 13 do not apply, as per CBDT Circular No. 557, dated 19.03.1990. Therefore, the Assessing Officer cannot disallow u/s 11. The Tribunal found no infirmity in the CIT(A)'s order allowing the appeal, leading to the dismissal of the Revenue's appeal.
The case pertains to denial of exemption u/s 11 due to alleged violation of provisions of section 13(1)(c). The Appellate Tribunal held that as the society is notified u/s 10(23C)(iv) and registered u/s 12A(a) of the Act, the conditions u/s 13 do not apply, as per CBDT Circular No. 557, dated 19.03.1990. Therefore, the Assessing Officer cannot disallow u/s 11. The Tribunal found no infirmity in the CIT(A)'s order allowing the appeal, leading to the dismissal of the Revenue's appeal.
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