2018 (12) TMI 885

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....C. I.T. ORDER Heard Sri Abhinav Mehrotra, learned Counsel for the appellant and Sri Gaurav Mahajan, learned Counsel for the respondent-department. This is an assessee's appeal under Section 260-A of the Income Tax Act, 1961 against the order dated 31.08.2016 for the Assessment Year 2011-12. The substantial questions of law sought to be answered are hereunder:- "1. Whether on ....

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....t appears that the assessee had claimed exemptions in respect of use of a bus and the AO records as hereunder:- "Further, during the scrutiny assessment, it has been noticed in the balance sheet that assessee trust owns a bus and claimed declaration of Rs. 3,124/- on it. In the reply dated 11.02.2014, the assessee itself accepted that the said bus is purchased by it but the bus is used by....

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....ing used by the organization run by the family members of the trustees. Thereby, the addition of depreciation of Rs. 3,124/- has also been made. On overall consideration of the facts and circumstances of the case, the observation for violation of the Section 13 (1) (c) read with Section 13 (3) is found correct. Thereby, the exemption claimed u/s 11 has rightly been denied and rejected by the AO. A....