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2014 (1) TMI 979 - AT - Income TaxAddition u/s 68 - Held that:- The account for the assessee Trust shows that there was sufficient capital expenditure during the year which is much above the corpus donation received by the assessee - The assessee was conducting its business as per the aims and objects of the society - When there is no dispute that the assessee had disclosed the donations with the list of donors, the amount was paid by cheques and donations were applied for charitable purpose, there is no justification in making addition u/s 68 - The assessee has furnished evidences with regard to donations received - Some of the donors were produced before the Assessing Officer and many donors replied to the query of Assessing Officer - In respect of receipt of one of the major donations of Rs.45 lacs from SICPA India’s Pvt. Ltd confirmation was filed form the donor - The amount was received by cheque and fresh certificate of incorporation with Ministry of Corporate Affairs was also filed - The assessee had complied the requirement of Assessing Officer with regard to donors - Decided in favour of assessee.
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