JAYA EDUCATIONAL TRUST,CHENNAI vs. DCIT CENTRL CIRCLE 1 (2), CHENNAI
In the result, appeals filed by the assessee for the assessment years 2012-13 & 2013-14 are allowed and for the assessment years
ITA 2915/CHNY/2019[2016-17]Status: DisposedITAT Chennai16 Jul 2021AY 2016-17
Bench: Shri V. Durga Rao & Shri G. Manjunathaआयकर अपील सं./Ita Nos.: 2915, 3114, 3115/Chny/2019 & 916/Chny/2020 िनधा"रण वष" / Assessment Years: 2016-17, 2012-13, 2013-14 & 2017-18
For Appellant: Shri Y. Sridhar, CAFor Respondent: Shri S. Bharath, CIT
Section 11Section 12ASection 13(1)(c)Section 13(2)Section 13(2)(a)Section 13(3)Section 13(3)(e)Section 143(3)
35 I.TA. Nos. 2915, 3114 & 3115/Chny/2019
916/Chny/2020
it is clear that interest free advance given to two individuals is not a beneficial / gracious payment made to persons referred to u/s 13(3) of the Act and thus, the same cannot be treated as payment in contravention to section13(1)(c) of the Act. As regards observations of the AO that
