2017 (8) TMI 183

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..... ng Officer has now to compute income as per Section 11 and 12 of Act, 1961 and if Assesses is able to establish that 85 percent or more of the income of Assessee has been utilized for the purpose of Assessee then income of Assessee should be exempted.
Hon'ble Sudhir Agarwal And Hon'ble Ravindra Nath Mishra-II, JJ. For the Appellant : Alok Matur ORDER 1. Heard Sri Alok Mathur, learned .....

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..... was carrying on its educational activities on commercial basis and income derived therefore was being diverted for the personal uses of the members of the society. " That the ld. Commissioner of Income Tax (Appeals)-II Kanpur has erred in law and on facts in not appreciating the fact that restoration of registration u/s 12A of the Income Tax Act, 1961 by Hon'ble ITAT was not accepted by .....

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..... disallowance of ₹ 1,72,908/- under the head interst on TDS without appreciating the fact the assessee could not substantiate the expenditure during the course of assessment proceedings. " That the order of learned CIT (A)-II, Kanpur dated 12.06.2014 needs to be quashed and the order passed by the Assessing Officer dated 25.02.2013 to be restored" 4. Tribunal considering issues n .....

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