2012 (9) TMI 843

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.... 1. The Revenue claims to be aggrieved by the order dated 30.09.2011 passed by the Income Tax Appellate Tribunal in ITA No.1213/Del/2011. The questions of law sought to be urged are with regard to (a) grant of the benefit of application of income in respect of capital expenditure incurred out of the anonymous donation received and (b) the grant of the benefit of exemption to undisclosed income of ....

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....m. It is mentioned that the taxation of anonymous donation amounting to Rs.3,37,841/- and Rs.3,37,841/- and Rs.19,45,812/- u/s 115BBC has no bearing in the matter as the tax on anonymous donation is levied separately. However, the amount spent on purchase of capital assets has to be allowed in computing the total income as application of income. Therefore, this ground has been decided in favour of....

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....e form of donation receipts, which were impounded in the course of survey. The discrepancy in respect of the amount of Rs.2,49,000/- has occurred on account of computer malfunctioning, but the details as above are available in the donation receipts. Therefore, no donation can be said to be anonymous. We have also not accepted the case of the revenue that the amounts are taxable u/s 68 by relying o....

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....were still in the custody of the department as the receipt books were impounded in the course of the survey and no confirmations were required to be filed by the assessee. In these circumstances the Tribunal held that Section 68 cannot be applied as the amount has already been shown by the assessee as income. The Tribunal referred to the judgment of this Court in Director of Income Tax (Exemption)....