Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2020 (9) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2020 (9) TMI 329 - AT - Income TaxExemption u/s 11 - Donation received treated as unexplained cash credit u/s 68 - assessee is a society registered u/s.12A and also enjoying the registration u/s.80G - AO issued notices u/s.133(6) to 49 persons which were either not served or remained unresponded - as submitted assessee was not allowed adequate time to prove the genuineness of the donors - HELD THAT:- Show cause notice was issued on 11-12-2018 requiring the assessee to prove the claim of having received donations from identifiable persons. The assessee submitted reply on 24-12-2018 requiring some more time. Since the assessment was getting time barred on 31-12-2018, the assessee was not allowed the time and the order was passed on 24- 12-2018 itself. CIT(A) upheld the action of the AO in the impugned order taxing the amount u/s 115BBC of the Act. In addition, he further directed the AO to consider the applicability of section 68 of the Act read with section 115BBE of the Act. Under these circumstances, we are of the considered opinion that the ends of justice would meet adequately if the impugned order is set-aside and the matter is restored to the file of AO. We order accordingly and direct him to examine the case afresh. AR has undertaken to extend all possible cooperation by producing necessary evidence/donors as the AO may desire. Assessee appeal is allowed for statistical purposes.
|