SHIV RATAN EDUCATION SOCIETY,HARIDWAR vs. ITO EXEMPTION WARD, DEHRADUN

In the result, the appeal of the assessee is allowed

Bench: SHRI YOGESH KUMAR U.S. (Judicial Member), SHRI MANISH AGARWAL (Accountant Member)

70,54,017/- Total application of funds of Rs.3,62,55,748/- (95.93% of gross receipts). 6. The AO after considering the revised computation of income had accepted the claim of the assessee and assessed the income at Nil. However, while imposing the penalty u/s 270A of the Act, the AO had ignored this fact of claim of application towards

ASSITANT COMMISSIONER OF INCOME TAX , DEHRADUN vs. POWER MACHINES, NEW DELHI

In the result, appeal preferred by the revenue is dismissed