INDIRA GANDHI MEMORIAL TRUST,NELLIKUZHY P.O vs. JOINT COMMISSIONER OF INCOME TAX (EXEMPTIONS), ERNAKULAM

In the result, both the appeals filed by the assessee are allowed

Bench: Shri Waseem Ahmed & Shri Soundararajan K

269T is that the tax payer is not allowed to give false explanation for his unaccounted money. In the instant case of the appellant, the repayment of deposits are accounted in books of accounts for FY 2011-12 which are audited and Income Tax Retums are filed accordingly. Therefore, there is no malafide intention on the part of the appellant

INDIRA GANDHI MEMORIAL TRUST,NELLIKUZHY, KOTHAMANGALAM vs. JOINT COMMISSIONER OF INCOME TAX(EXEMPTION), ERNAKULAM

In the result, both the appeals filed by the assessee are allowed