2023 (3) TMI 1554

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....dia, Junior Standing Counsel For the Respondent : Mr. Sidhartha Ray, Senior Advocate assisted by Mr. K.K. Sahoo, Advocate ORDER I.A. No.34 of 2023 1. For the reasons stated, the I.A. is allowed. The delay in filing the appeal is condoned. ITA No.38 of 2023 2. The present appeal by the Revenue is directed against an order dated 13th September 2022 passed by the Income Tax Appellate Tribu....

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....nce sheet under the nomenclature "Development Fund' instead of being routed through the income and expenditure account. This was then treated as part of the Revenue and therefore the taxable income under Section 11 (1) of the Act was taken to be Rs.51,97,46,092/-. 6. In replying to the above SCN, the Assessee gave a calculation after reducing the application of income on the revenue field in resp....