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2019 (4) TMI 1615 - AT - Income TaxDisallowance made u/s 35(1)(ii) - withdrawal of recognition with retrospective effect - claim weighted deduction of 175% of the amounts actually paid by such beneficiaries - HELD THAT:- The provisions of section 35(1)(ii) of the Act vide its Explanation clearly proves that the donor (i.e assessee herein) cannot be affected due to subsequent withdrawal of recognition with retrospective effect. Respectfully following NATIONAL LEATHER CLOTH MANUFACTURING CO. VERSUS INDIAN COUNCIL OF AGRICULTUAL RESEARCH AND OTHERS [1999 (10) TMI 55 - BOMBAY HIGH COURT] and the provisions of the Act, we direct the AO to grant deduction u/s 35(1)(ii) of the Act in the sums of ₹ 26,25,000/- and ₹ 21,00,000/- for the Asst Years 2013-14 and 2014-15 respectively. Accordingly, the grounds raised by the assessee for both the years are allowed. Charging of interest u/s 234B is consequential in nature and does not require any specific adjudication.
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