2021 (10) TMI 347

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....nt to the Assessment Year 2009-2010. 2. The assessee has raised the following grounds of appeal: 1.1 The order passed u/s. 250 on 5-9-2018 for A.Y. 2009-10 by CIT(A)-GNR, Abad upholding the addition of Rs. 8,64,967/- as unexplained investments made by AO is wholly illegal, unlawful and against the principles of natural justice. 1.2 The Ld. CIT(A) has grievously erred in law and or on facts in not considering fully and properly the submissions made and evidence produced by the appellant with regard to the impugned addition. 2.1 The Ld. CIT(A) has grievously erred in law and on facts in confirming that the I appellant Trust had made expenditure towards building construction of Rs. 13,58,001/- and the source of Rs....

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....dded the same to the total income of the assessee. 4. Aggrieved assessee preferred an appeal to the learned CIT(A). 5. The assessee before the learned CIT(A) submitted that the voluntary contribution received under the head building fund has wrongly been assumed by the AO as an expenditure towards the building construction. As such, the amount of contribution received under the building fund represents the corpus donation received by it (the assessee) which is not chargeable to tax as per the provisions of section 11(1)(d) of the Act. 5.1. The learned CIT-A agreed with the contention of the assessee that the AO has wrongly treated the amount of building fund as expenditure towards the building construction. As such, the assessee wa....

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....ion of facts. iii. The learned AR also contended that the present proceedings were initiated by issuing a notice under section 148 of the Act to verify the source of cash deposits in the bank for Rs. 46,60,725.00 whereas the issue on hand relates to the amount shown under the head corpus fund. As such the AO cannot travel beyond the scope specified in the notice issued under section 148 of the Act after recording the reasons to believe. 8. On the other hand the learned DR vehemently supported the order of the authorities below. 9. We have heard the rival contentions of both the sides and perused the materials available on record. The controversy in the case on hand revolves whether the amount received under the building fund ....