[aaykarbhavan] HC denies sec. 10(23C) relief as repair exp. was paid merely to siphoned away the trust’s money

HC denies sec. 10(23C) relief as repair exp. was paid merely to siphoned away the trust's money

July 29, 2014[2014] 46 taxmann.com 418 (Uttarakhand)/[2013] 359 ITR 401 (Uttarakhand)

IT : Where assessee trust raised a claim for exemption under section 10(23C), in view of fact that assessee had paid certain amount as repairs which ultimately landed in hands of father of Chartered Accountant of trust who was totally unconnected with repairs work, Assessing Officer rightly inferred that money had been siphoned away from trust and thus its claim for exemption was to be rejected

 

Regards

Prarthana Jalan

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Posted by: Prarthana Jalan <prarthanajalan@ymail.com>

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