Tribunal held that the excess amount refunded to SICL did not amount to diversion of funds as defined under section 13(2)(g) . The assessee had refunded the excess amount collected from the party by way of anonymous decision of the board of directors of the trust further supported by proof of payment. Therefore, the assessee had not violated the provisions of section 13(1)(c) and 13(2)(g) read with section 13(3) .  Entitled to exemption. Tribunal held that the action of the Assessing Officer in rejecting the books of account without finding any defects in the accounts could not be upheld and the AO was directed to compute the income as per the method of account followed by the assessee. .( AY.2008-09, 2011-12, 2012-13)