BHANSILAL RAMNATH AGARWAL CHARITABLE TRUST vs. DEPUTY COMMISSIONER OF INCOME-TAX,,

In the result, both the appeals of the assessee are partly allowed

Bench: Shri D.Karunakara Rao, Am & Shri Vikas Awasthy, Jm आयकर आयकर अपील आयकर आयकर अपील अपील संसंसंसं. / Ita Nos.1147, 1133, 1134 & 1136/Pun/2016 अपील िनधा"रण िनधा"रण वष" िनधा"रण िनधा"रण वष" वष" / Assessment Years : 2007-08 To 2009-10 & 2011-12 वष"

section 13 of the Act. AO also suspected the siphoning of funds by the trustees and eventually, held that trust funds are diverted for the benefits of the principal trustee. AO referred to the addition of item No.5 (page 4 N- ante) and mentioned that securing of loans without providing the guarantee and without charging of interest, constitutes the case

SUNIL TUKARAM ZAMBARE,,PUNE vs. INCOME TAX OFFICER,, PUNE

In the result, the appeal of the assessee is allowed

disallowance u/s 14A of the Act of Rs.1,35,384/-. The Assessing Officer determined the total income of the assessee at Rs.54,20,540/-. Further, the Assessing Officer initiated the penalty proceeding stating that “Penal proceedings are therefore initiated u/s 271B of the Act for not getting the books of account audited.” (para 2.2 of the assessment order