TaxTMI 
TaxTMI 
2013 (4) TMI 418
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....provisions of section 11 of the Act are not applicable for which the A.O. has determined the status as AOP and also taxed the gross receipts of the assessee under the head "Income from Other Sources" and due to failure on its part to produce the details of books c account/Bills and Vouchers to substantiate the genuineness of expenditure claimed. 02. Whether the Ld.CIT(A) is justified to hold that various expenses claimed in Receipt and Expenditure accounts have to be excluded from Gross Receipt under situation where the expenses claimed cannot be considered as wholly and exclusively laid out for earning the gross receipt which are mostly voluntary Contributions and Grant as such the expenses can only be treated as application of income not....
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.... of accounts and also keeping the supporting documents for the same as well as its books of accounts has been audited by the Chartered Accountant. The Assessee has furnished the books of accounts and supporting documents for verification at the time of Assessment proceeding but learned Assessing Officer has taken the gross donation and hundi collection as taxable income. On appeal, the learned CIT(A) directed the Assessing Officer to bring to tax the net income in place of donation and hundi collection. 3. The learned DR initiated his arguments by submitting that the learned CIT(A) ought not to have allowed the claim of the assessee by holding view that only Net Profit will only to be brought to tax when the assessee is not patently regist....