2008 (2) TMI 261

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.... Nos. 418(ASR)2000 and 513(ASR)2001 in the case of the respondent-assessee for the assessment year 1997-98 raising the following substantial questions of law : "1. Whether, on the facts and circumstances of the case, the learned Income-tax Appellate Tribunal is right in law in confirming the order of the Commissioner of Income-tax (Appeals) granting exemption under section 10(22) of the Income-tax Act, 1961 ? 2. Whether, on the facts and circumstances of the case, the learned Income-tax Appellate Tribunal is right in law confirming the order of the Commissioner of Income-tax (Appeals) deleting the addition of Rs. 40 lakhs on account of unaccounted capitation fee ? 3. Whether, on the facts and circumstances of the case, the learned Income....

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....idence given by the assessee. The Commissioner of Income-tax (Appeals) also held that the entire income of the trust including the alleged receipt of capitation fee stands exempted under the provisions of section 10(22) of the Act as the trust is running solely for the educational purposes and not for profits. Regarding the addition on account of the capitation fee to the tune of Rs. 40 lakhs made by the Assessing Officer, the Commissioner of Income-tax (Appeals) held that the same is not justified in view of the fact that no evidence has been brought on record in this regard. 6. Aggrieved against this order of the Commissioner of Income-tax (Appeals), Bathinda, the Revenue filed an appeal before the Tribunal who, vide its order dated Augu....