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TMI Blog2015 (7) TMI 1447X X X X Extracts X X X X X X X X Extracts X X X X ..... to allow the exemption u/s 11 of the Act ignoring the elaborate discussion of the issues and facts. 2. Whether on the facts of the case and in law the learned CIT (A) erred in deleting the addition of Rs. 1,35,00,000, made by the A.O." 2. In Ground no.1, the Revenue has raised the issue of allowing exemption under sections 11 and 12 of the Act by the learned CIT(A). The assessee is running an educational institution. During the course of assessment proceedings, the Assessing Officer found that the assessee had given interest free advances to the tune of Rs. 11,26,904, to one of the trustees, Shri Arun Kumar J. Muchhala. It was further observed by the Assessing Officer that interest free advance of Rs. 6,11,25,000, had also been given ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he interest free advance given by the assessee trust to the related parties / trustees was not for the benefit of any trust. According to the learned CIT(A), the advance was given for acquiring land and building as per the agreement. On the basis of these observations made by the learned CIT (A) in Para-3.2 of his order, he held that the assessee was eligible for exemption under section 11. Aggrieved, the Revenue is in appeal before the Tribunal. 4. Before us, the learned Departmental Representative, contended that the order passed by the learned CIT (A) is non-speaking. The basis of the reasoning given by the learned CIT (A) is neither coming out from the order, nor is it supported by any facts or evidence. According to the learned Depart ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... hen appropriate decision can be taken to decide the issue whether the interest free advance was for the benefit of trust or was for the benefit of the trustee. The learned CIT(A), while adjudicating this issue, has not passed a speaking order and has not given any such facts or referred to any such evidence in support of the contentions of the assessee. In our opinion, this issue deserves to be restored to the file of the learned CIT (A) for denovo adjudication after examining all the evidences which the assessee may place before the learned CIT (A) to decide the issue with the help of actual facts and figures, as to whether the interest free advance was given for the benefit of the assessee trust, or for the benefit of the trustees. The qu ..... X X X X Extracts X X X X X X X X Extracts X X X X
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