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TMI Blog2021 (11) TMI 1190X X X X Extracts X X X X X X X X Extracts X X X X ..... explain plethora of evidence seized during the search from residence of Principal Trustee of assessee society ? - HELD THAT:- Question (i) is framed as under :- Whether in the facts and the circumstances of the case, ITAT was right in deleting the addition as added by the AO relying on documents found during the search at the residence of Principal Trustee of Respondent Society ? Registrar (Judic ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ome in violation of provisions of Section 13(1) - HELD THAT:- We are not inclined to entertain the same inasmuch as by Finance Act, 1984 Circular No.387 dated 06/07/1984 issued by the Income Tax Department, Government of India, at 28.6, it is mentioned In other words, where such a trust contravenes the provisions of section 13(1) or (d) of the Act, the maximum marginal rate of income-tax will appl ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... with Section 132(4A) to explain plethora of evidence seized during the search from residence of Principal Trustee of assessee society ? (ii) Whether on the facts and in the circumstances of the case and in law, the Hon ble ITAT was right holding that violation of conditions under Section 13(1)(c) would not result in denial of exemption on the whole income and denial be restricted to the income in ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ated 06/07/1984 issued by the Income Tax Department, Government of India, at 28.6, it is mentioned In other words, where such a trust contravenes the provisions of section 13(1)(c) or (d) of the Act, the maximum marginal rate of income-tax will apply only to that part of the income which has forfeited exemption under the said provisions . Copy of the said circular that was tendered by the learned ..... X X X X Extracts X X X X X X X X Extracts X X X X
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