1997 (12) TMI 77

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....cond respondent for realisation of income-tax due from Centre for Science and Technological Studies, Trivandrum. Proceedings were initiated against the petitioner under section 226(3) of the Income-tax Act, 1961, on the ground that a sum of Rs. 11,73,085 is seen from the balance-sheet of the said defaulter as advance given to the school of engineering of which the petitioner is the proprietor. In ....

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.... the petitioner has come up in writ petition. A statement is filed on behalf of the respondents. It is stated, that from the statement of accounts for the years 1991-92 to 1995-96 submitted by the Centre for Science and Technological Studies along with the returns claiming exemption from payment of income-tax under sections 11 to 13 of the Income-tax Act, 1961, it was noticed that the trustee h....

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....he said communication it was specifically pointed out that the advance given to the school of engineering has been accounted under the head loans and advances on the liabilities side of the balance-sheet filed by the school of engineering as per the balance-sheet as on March 31, 1995. I have heard learned counsel appearing for the petitioner and Shri N.R.K. Nair, learned standing counsel appear....

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.... correct. In the instant case, admittedly, an opportunity has not been given to the petitioner and he has not been heard personally in support of the contention that the amount shown as loan is given by way of grant or that specifically it was directed to be adjusted towards grant. Since no such opportunity has been given to the petitioner, I am of the view that exhibit P-4 order has to be quashed....