https://www.taxtmi.com/caselaws?id=68816 The Tribunal dismissed the revenue's appeals for all six assessment years, affirming the CIT(A)'s orders. It ruled that the reference to the District Valuation Officer (DVO) was invalid without rejecting the books of account, leading to the deletion of additions made by the Assessing Officer. The Tribunal also upheld that any income from undisclosed sources used for charitable purposes remains exempt under section 11. Additionally, the Tribunal rejected the revenue's challenge regarding an interest-free loan, citing that the loan was given with interest and was legally admissible. en-us Fri, 28 Sep 2007 00:00:00 +0530 Thu, 01 Feb 2024 10:34:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=68816 The Tribunal dismissed the revenue's appeals for all six assessment years, affirming the CIT(A)'s orders. It ruled that the reference to the District Valuation Officer (DVO) was invalid without rejecting the books of account, leading to the deletion of additions made by the Assessing Officer. The Tribunal also upheld that any income from undisclosed sources used for charitable purposes remains exempt under section 11. Additionally, the Tribunal rejected the revenue's challenge regarding an interest-free loan, citing that the loan was given with interest and was legally admissible. Case-Laws Income Tax Fri, 28 Sep 2007 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=68816