Even though the assessee failed to disclose the names of the donors, the amount received as building fund was utilized for charitable purpose & hence eligible for exemption u/s 11
“Department must not take advantage of ignorance of assessee to collect more tax than what is legitimately due” – Circular issued prior to 1961 Act which is still relevant
If the transactions through the broker are duly recorded in the books of the assessee. AO cannot treat it as Bogus
Salary received by a non-resident for services rendered abroad accrues outside India and is not chargeable to tax in India. The source of the receipt is not relevant. The CIT has wide powers u/s 264 and has to exercise them in favour of the assessee in terms of CBDT Circular No. 14 (XL-35) dated 11.04.1955
Orders passed by a statutory authority under “dictation” of a superior officer or anyone else is bad in law