ACIT., CIRCLE-5(1), HYDERABAD vs. PENNA CEMENT INDUSTRIES LIMITED, HYDERABAD

credit under section 68\nof the Act.\n28. We, thus, find no infirmity in the view taken by the CIT(A), who\nhad rightly held that the recorded sales receipts of the assessee\ncompany could not have been summarily held as unexplained cash\ncredits in its hands, as the same would result in double taxation.\nAccordingly, we find no infirmity

MYADAM KISHAN RAO CHARITABLE TRUST,HYDERABAD vs. COMMISSIONER OF INCOME TAX (EXEMPTIONS), HYDERABAD

In the result, the appeal of the assessee is allowed

Bench: Shri Manjunatha G., Hon'Ble & Shri K.Narasimha Chary, Hon'Ble

charitable or Page 14 of 27 religious purposes has been applied other than for the objects of the Trust and (b) the Trust or institution has income from profits and gains of business, which is not incidental to the attainment of its objects and the trust not maintains separate books of accounts (c) Trust or institution is applied its income

CMR TECHNICAL EDUCATION SOCIETY,HYDERABAD vs. DCIT., CENTRAL CIRCLE-2(1), HYDERABAD

In the result, the appeal filed by the assessee in ITA

Bench: SHRI VIJAY PAL RAO, HON’BLE (Vice President), SHRI MANJUNATHA G, HON’BLE (Accountant Member)

crediting inflated salaries and collecting back the excess in cash. Even if the differences noted were for reconciling 6th and 7th pay commission, no evidence is submitted to establish that these differences were not actually withdrawn in cash by the trustees. The affidavits by employees now claiming otherwise are rebutted by the statements made under oath during the search

CMR TECHNICAL EDUCATION SOCIETY,HYDERABAD vs. DCIT., CENTRAL CIRCLE-2(1), HYDERABAD

In the result, the appeal filed by the assessee in ITA

crediting inflated salaries and collecting back the excess in cash. Even if the differences noted were for reconciling 6th and 7th pay commission, no evidence is submitted to establish that these differences were not actually withdrawn in cash by the trustees. The affidavits by employees now claiming otherwise are rebutted by the statements made under oath during the search

RAVI RISHI EDUCATIONAL SOCIETY ,HYDERABAD vs. ACIT CENTRAL CIRCLE-2 (4), HYDERABAD

In the result, the solitary ground raised by the Revenue in the appeals are dismissed

Bench: Shri R.K. Panda & Shri K. Narasimha Charyassessment Year: 2017-18 Ravi Rishi Educational A.C.I.T. Society, Hyderabad Central Circle 2(4) Pan:Aaaar1952M Hyderabad (Appellant) (Respondent) Assessee By: Shri P. Murali Mohan Rao Revenue By: Shri Esthen N Hangal, Dr Date Of Hearing: 07/06/2022 Date Of Pronouncement: 19/07/2022 Order Per R.K. Panda, A.M This Appeal Filed By The Assessee Is Directed Against The Order Dated 21/04/2022 Of The Learned Cit (A)-12, Hyderabad Relating To A.Y.2017-18. 2. Facts Of The Case, In Brief, Are That The Assessee Is An Aop & Registered U/S 12A Of The I.T. Act Vide Proceedings Of The Director Of Income Tax (Exemption) Hyderabad In F.No.Hqrs/I/15/12A/Dit(E) Dated 27.02.2003. The Assessee Filed Its Original Return Of Income For The A.Y 2017-18 On 06.11.2017 Admitting Total Income Of Rs.Nil. M/S. Ravi Rishi Educational Society Is Run By Close Family Members Mr.N.Rajababu, Mr.Ramesh Babu, Mrs. N. Sulochana, Mrs. N. Yashoda, Mrs. N.

charitable purposes, [which may be approved by the prescribed authority], having regard to the manner in which the affairs of the trust or institution are administered and supervised for ensuring that Page 15 of 18 ITA No 146 of 2022 Ravi Rishi Educational Society Hyderabad the income accruing thereto is properly applied for the objects thereof;" The words used

KUPPAM EDUCATIONAL SOCIETY,KUPPAM vs. INCOME TAX OFFICER (EXEMPTIONS), TIRUPATI

In the result, the appeal of the assessee is partly allowed

Bench: Shri K. Narasimha Chary & Shri Madhusudan Sawdia

trust, even though the acquisition of the asset had already been treated as an application of income. The hon’ble Supreme Court also held that the restriction imposed by section 11(6) of the Act is prospective in nature and will be applicable w.e.f. A.Y. 2015- ITA No.29/Hyd/2024 7 16. Hence respectfully relying on the decision

AURORA EDUCATIONAL SOCIETY ,HYDERABAD vs. PR. COMMISSIONER OF INCOME TAX, CENTRAL, HYDERABAD

Appeals are allowed in above terms

Bench: Shri S.S.Godara & Shri Laxmi Prasad Sahu

unexplained cash credits in the bank accounts of the society. Another finding of the search is that the society did not maintain regular books of accounts because of which the returns of income filed by the assessee and the receipts and payment accounts remain unsubstantiated. Besides these, the society has violated the provisions of section 269SS, 269T as well

TARAKARAMA EDUCATIONAL SOCIETY ,HYDERABAD vs. PR. COMMISSIONER OF INCOME TAX, CENTRAL, HYDERABAD

Appeals are allowed in above terms

Bench: Shri S.S.Godara & Shri Laxmi Prasad Sahu

unexplained cash credits in the bank accounts of the society. Another finding of the search is that the society did not maintain regular books of accounts because of which the returns of income filed by the assessee and the receipts and payment accounts remain unsubstantiated. Besides these, the society has violated the provisions of section 269SS, 269T as well

CHURCH EDUCATINAL SOCIETY ,HYDERABAD vs. PR. COMMISSIONER OF INCOME TAX, CENTRAL, HYDERABAD

Appeals are allowed in above terms

Bench: Shri S.S.Godara & Shri Laxmi Prasad Sahu

unexplained cash credits in the bank accounts of the society. Another finding of the search is that the society did not maintain regular books of accounts because of which the returns of income filed by the assessee and the receipts and payment accounts remain unsubstantiated. Besides these, the society has violated the provisions of section 269SS, 269T as well

KARSHAK VIDYA PARISHAD ,HYDERABAD vs. PR. COMMISSIONER OF INCOME TAX, CENTRAL, HYDERABAD

Appeals are allowed in above terms

Bench: Shri S.S.Godara & Shri Laxmi Prasad Sahu

unexplained cash credits in the bank accounts of the society. Another finding of the search is that the society did not maintain regular books of accounts because of which the returns of income filed by the assessee and the receipts and payment accounts remain unsubstantiated. Besides these, the society has violated the provisions of section 269SS, 269T as well