https://www.taxtmi.com/highlights?id=67012 Exemption u/s 10(22) denied - Addition u/s 68 - the Stand taken by the assessee that contributions were received only from the students has been rightly rejected by the Assessing Officer. Further, the cash balance of Rs.1.30 Crores at the peak with petty cash being drawn on daily basis fortifies the view taken by the Assessing Officer that money was being utilized for some other purpose. - HC en-us Fri, 09 Dec 2022 16:36:45 +0530 Fri, 09 Dec 2022 16:36:45 +0530 TaxTMI RSS Generator https://www.taxtmi.com/highlights?id=67012 Exemption u/s 10(22) denied - Addition u/s 68 - the Stand taken by the assessee that contributions were received only from the students has been rightly rejected by the Assessing Officer. Further, the cash balance of Rs.1.30 Crores at the peak with petty cash being drawn on daily basis fortifies the view taken by the Assessing Officer that money was being utilized for some other purpose. - HC Highlights Income Tax Fri, 09 Dec 2022 16:36:45 +0530 https://www.taxtmi.com/highlights?id=67012