2020 (6) TMI 33

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..... balance sheet of the applicant in which the society is having huge cash balances in the form of FDR which could otherwise be utilized for expansion of education? - HELD THAT:- This case are covered by the decision of this Court passed in The Commissioner of Income Tax (Exemptions), Chandigarh vs. M/s Adesh Foundation (Regd.) [ 2019 (5) TMI 837 - ITAT AMRITSAR] wherein held why should a managemen .....

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..... ppeal has been filed under Section 260A of the Income Tax Act, 1961 against the order of the Income Tax Appellate Tribunal, Amritsar Bench, Amritsar in ITA No. 665/Asr/2017 dated 18.3.2019, claiming the following substantial questions of law :- i. Whether on the facts and circumstances of the case the ITAT has erred in directing the registration to be accorded instead of reverting it back for .....

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..... eration of huge surpluses in the past and non-furnishing of bank statements, which are essential elements to verify the genuineness of the activity of the applicant? iii. Whether on the facts and circumstances of the case the Hon'ble ITAT is right in holding that the CIT (E)'s observation based on surmise, and apprehend for future misuse of funds whereas the CIT (E) has drawed conclus .....

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