https://www.taxtmi.com/caselaws?id=442106 The HC dismissed the appeals under Section 260A of the IT Act for the assessment years 2004-05 to 2009-10, upholding the ITAT's findings. It ruled that reassessment cannot be initiated solely on a change of opinion, affirming that funds were appropriately utilized for charitable purposes, meeting statutory requirements, and confirming the deletion of additions by the AO. The Court found no substantial questions of law, supporting the Tribunal's decisions and rejecting the CIT's revisions under Section 263 for the later years, as the funds exceeded the prescribed charitable utilization limit. en-us Tue, 22 Aug 2023 00:00:00 +0530 Wed, 27 Mar 2024 12:41:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=442106 The HC dismissed the appeals under Section 260A of the IT Act for the assessment years 2004-05 to 2009-10, upholding the ITAT's findings. It ruled that reassessment cannot be initiated solely on a change of opinion, affirming that funds were appropriately utilized for charitable purposes, meeting statutory requirements, and confirming the deletion of additions by the AO. The Court found no substantial questions of law, supporting the Tribunal's decisions and rejecting the CIT's revisions under Section 263 for the later years, as the funds exceeded the prescribed charitable utilization limit. Case-Laws Income Tax Tue, 22 Aug 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=442106