2009 (5) TMI 504

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....pondent-assessee for deduction from the aforesaid interest income on account of expenses incurred towards maintenance was, however, not accepted. 2. Dissatisfied with the order passed by the Assessing Officer dated March 23, 2001, the respondent-assessee preferred an appeal before the Com-missioner of Income-tax (Appeals), Faridabad. The aforesaid appeal was, however, dismissed on June 4, 2004. 3. Aggrieved with the orders passed by the Revenue authorities dated March 23, 2001, and June 4, 2004, the respondent-assessee preferred a second appeal before the Income-tax Appellate Tribunal (Delhi Bench "F"). The Income-tax Appellate Tribunal accepted the appeal preferred by the respondent-assessee and allowed him deduction on account of ex....

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....e of no concern of the Revenue. The concern of the Revenue is limited to the income earned by the respondent-assessee. In case, the members of the society desire to assail the action of the respondent-assessee carrying out activities beyond the objects and reasons it is for them to do so. As already stated hereinabove, the limited scrutiny at the hands of the Revenue, in so far as the activities of the respondent-assessee are concerned, is to determine the income drawn by the respondent-asses-see. Undoubtedly, the respondent-assessee has drawn income on account of interest based on deposits made by the members of the respondent-assessee for maintenance of their houses and as such liability of the respondent-assessee to pay tax on the same c....