2012 (9) TMI 1069

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....kla, IRS, CIT Respondent by : Shri V.Subbarayan, ITP O R D E R PER CHALLA NAGENDRA PRASAD, JUDICIAL MEMBER.- This is an appeal filed by the department against the order of the Commissioner of Income-tax(Appeals)-XII, Chennai, dated 20-12-2011 in ITA No.382/2010-11. 2. The grievance of the Revenue in this appeal is that the Commissioner of Income-tax(Appeals) has erred in holding tha....

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....f M/s.Apollo Computer Education and is one of the Directors in Apollo Computer Education Ltd. Therefore, the assessee by advancing the said amounts to Apollo Computer Education and to Apollo Computer Education Ltd. violated the provisions of section 13(1)(c) of the Act. The Assessing Officer stated that the managing trustee of the assessee is benefitted by the advances given to the said concerns, ....

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....eedings as well as the appellate proceedings and the letter addressed by AIHMC&FT to the assessee trust requesting the assessee to pay Rs. 3,50,00,000/- and Rs. 2,20,00,000/- to the concerns, namely, Apollo Computer Education and Apollo Computer Education Ltd., out of the outstanding due of Rs. 5,80,07,535/- to AIHMC&FT by the assessee trust, in coming to the conclusion that there is no violation ....

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....by the assessee trust on earlier occasions. The Commissioner of Income-tax(Appeals) on examining all the aspects of the matter, came to the conclusion that there is no violation of section 13(1)(c) of the Act, since the payments made by the assessee to the concerns, in which the managing trustee is the proprietor and Director, are only to discharge the liability of the assessee and there is no ben....