2004 (1) TMI 56

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....rns are being filed. Income has been held to be exempted in terms of a notification issued under section 143 of the Act. The petitioner was granted exemption under section 80G in the year 1996. It was in force till 2000 as per annexure D. The petitioner thereafter made an application seeking for renewal of the same. There was correspondence between the petitioner and the respondents. Thereafter, the authorities have chosen to reject the case of the petitioner. The petitioner is therefore before me. Heard learned counsel for the petitioner and perused the material on record. In the case on hand, it is seen that the petitioner has made an application on March 8, 2001, in terms of annexure E. Thereafter, the respondents sought for some i....

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....rther provides for enquiries in the matter. In the case on hand, the authorities have noticed that the application was defective inasmuch as detailed information was not furnished. Therefore, the material was asked for. The assessee furnished copies of the audit report as required under section 12A. One Mr. Gopal, chartered accountant, was summoned under the Act and his submission was taken. His submission is available in the writ petition. He has stated that he has seen the certificates, balance sheet, receipts and payments accounts and income and payments for the five years mentioned and he confirms that the signatures appearing on these documents are his. To question No.3 he has answered reading as under: "I regret to say that I ha....

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.... me in the light of the law governing. It is also seen by the authority that the trust has committed a fraud furnishing the Department an audit report without actually getting the accounts audited by a qualified chartered accountant. The authority has also noticed that it is a clear case of irregular maintenance of accounts. In so far as the activities are concerned, the authority has noticed that the assessee has not indicated the purpose for which the corpus donation was given by the alleged donors. It is seen that the fund is being used to make substantial advances of Rs. 11,14,50,12 lakhs to some other persons. An indication is given that there is diversion of fund. After noticing the material facts, the authority has rejected the re....