THE COMMISSIONER OF INCOME TAX (EXEMPTIONS) vs. THE TIBETIAN CHILDREN VILLAGE

Accordingly the same are dismissed alongwith pending

Bench: HONOURABLE THE CHIEF JUSTICE MAMIDANNA SATYA RATNA SRI RAMACHANDRA RAO,HON'BLE MR. JUSTICE AJAY MOHAN GOEL

Section 148 of the Act (issued by the Assessing Officer stating that the earmarked funds shown in the Funds Pending Utilization are to be treated as income of the assessee on the same set of facts and material which were in the knowledge of the Assessing Officer), is invalid. The Tribunal held that the Assessing Officer cannot issue notice

THE COMMISSIONER OF INCOME TAX (EXEMPTIONS) vs. THE TIBETIAN CHILDREN VILLAGE

Accordingly the same are dismissed alongwith pending