TaxTMI 
TaxTMI 
2017 (4) TMI 1003
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.... of assessee in ITA No. 755/PN/2009 for assessment year 2002-03 remitted the matter back to the file of Commissioner of Income Tax (Appeals) for fresh adjudication of issues relating to loan transaction and addition on account of donations. 2. The brief facts of the case as emanating from records are : A search and seizure u/s. 132 of the Income Tax Act, 1961 (hereinafter referred to as "the Act") was conducted at the residential and business premises in the case of Malu Group on 20-07-2005. The assessee is a firm and derived income from agricultural. The assessee filed its return of income for the assessment year 2002-03 on 30-07-2002 declaring total income as Nil and agricultural income of Rs. 3,60,758/-. After search, notice u/s. 148 of....
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....as donations made to the Tirupathi Devasthan. While deleting the addition in respect of unexplained loans, the Commissioner of Income Tax (Appeals) placed reliance on his own order in the case of Shri Rajendra Malu, the main person of Malu Group decided on 01-08- 2014. In respect of donations the Commissioner of Income Tax (Appeals) held that even if part of agricultural sales was not accepted by the Assessing Officer as agriculture income, the Assessing Officer has assessed the same as income from other sources. The assessee had sufficient funds available for donation, whether from agricultural income for from other sources. Against the findings of Commissioner of Income Tax (Appeals), now the Revenue is in appeal before the Tribunal. 3. ....
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....sel for the assessee submitted that the assessee was having sufficient income for making donations. Even if it is presumed that the income declared by the assessee under the head agricultural income was not sufficient, assessee had income from other sources. The Assessing Officer during the course of assessment proceedings changed the head of income from agricultural income to income from other sources. The assessee has paid tax on the assessment made by the Assessing Officer. It is not the case of Revenue that the assessee was not having income at all. The ld. Counsel for the assessee prayed for dismissing the appeal of Revenue and upholding the order of Commissioner of Income Tax (Appeals). 5. Both sides heard. Orders of the authorities ....
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....s of the Tribunal in this regard are as under : "6.1 Against this decision of the Tribunal, the Revenue filed the Misc. Application, which was also dismissed by the Tribunal vide its order dated 25/07/2011. The Tribunal has given a finding of fact that the assessee has established the genuineness of the export of the software. The facts involved in all these years are also the same. All these years have been reopened by the Assessing Officer on the basis of survey conducted in the premises of the assessee on 07/03/2007 by Investigation Wing of the Department and also the fact that the disallowance of exemption u/s 10B has been made in the assessment year 2004-2005, which was confirmed by the CIT(A). thus, in our opinion, the basis of the r....
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.... FEMA along with the certificate issued by the STPI certifying the value declared by the exporter to be in order and accepted by the STPI. This form has been filed along with each and every invoice under the FEMA. It is not a case where the STPI has not to issue any certificate before the export about the declaration of the export consideration by the assessee. We do not find even a single instance, which may prove that the assessee had not complied with the guidelines in this regard. The Assessing Officer has mainly relied on a letter dated 03/01/2007 issued by STPI to the assessee asking the assessee to furnish certain information. This letter is issued after the expiry when actually export had already taken place and also at the instance....
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....und No. 5 to 13 of the assessee and delete the addition made by the Assessing Officer u/s 68 of the Act and direct the Assessing Officer to allow the deduction to the assessee u/s 10B of the Act." 7. A perusal of the order of Tribunal in the case of Shri J.H. Muniyar shows that export of software carried out by him was genuine. The assertions of the Revenue casting doubt over the software export business and creditworthiness of Shri J.H. Muniyar is without any basis. We find no merit in the grounds raised by the Revenue against deleting of addition by Commissioner of Income Tax (Appeals) on account of loan of Rs. 20 lakhs from Shri J.H. Muniyar. Accordingly, ground Nos. 1 to 4 raised in the grounds of appeal are dismissed. 8. The second ....