2022 (9) TMI 1411

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....r the Respondent : Mr. Bhaskar Sengupta, Adv. ORDER The Court: This appeal filed by the revenue under Section 260A of the Income Tax Act, 1961 (the 'Act' for brevity) is directed against the order dated 6th September, 2017 passed by the Income Tax Appellate Tribunal, "A" Bench, Kolkata (the Tribunal) in ITA No.2434/Kol/2016. The revenue has raised the following substantial question of law....

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....pugned order nor finding that the activities of the trust are not genuine or that activities are not being carried out in accordance with the object of the trust particularly when the Commissioner of Income Tax (Exemption) has already given a finding that the activities of the trust are non-genuine? We have heard Mr. Vipul Kundalia, learned senior counsel assisted by Mr. Anurag Roy, learned adv....

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....essee as per Section 68, the addition cannot be made because the assessee itself has applied the entire receipt for the objects of the assessee society. Further, the learned tribunal after taking note of the various decisions of the High Court, on facts, found that the assessee has shown the donation as corpus fund and had applied the same by advance money to the land and building which was shown ....

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.... Hon'ble Supreme Court in the case of Commissioner of Income Tax (Exemptions) Kolkata Vs. Batanagar Education and Research Trust, reported in (2021) 9 SCC 439. On going through the said decision we find that the same is factually distinguishable as in the said case the Hon'ble Supreme Court brought out the answers which were culled out from the managing trustee of the said trust. A questionnaire h....