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2024 (1) TMI 62 - AT - Income TaxDeduction u/s 35-AC - donation made to Navjeevan Charitable Trust was denied - HELD THAT:- It is the claim of the Revenue that Navjeevan Charitable Trust has been involved in a bogus transaction of accommodation entry and has returned the donation to the donors in cash after deducting the commission. The Revenue has also relied on the statement of the trustee recorded during the course of search action under section 132 of the Act at the premises of Navjeevan Charitable Trust. We find that a similar issue came up for consideration before the Co-ordinate Bench of the Tribunal in assessee’s own case in Ravindra K. Reshamwala v/s DCIT [2023 (6) TMI 108 - ITAT MUMBAI] for the assessment year 2009-10, wherein assessee claimed deduction u/s 35-AC in respect of donation made to Navjeevan Charitable Trust. From the perusal of the aforesaid order, we find that the deduction claimed u/s 35AC of the Act in respect of the donation made to Navjeevan Charitable Trust was denied on a similar basis as in the present case. Therefore, AO is directed to allow the claim of deduction under section 35-AC of the Act. Appeal by the assessee is allowed.
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