Disallowance in respect of gift and donation given to third ...

Income Tax

April 11, 2023

Disallowance in respect of gift and donation given to third parties - It is just like a donation or in the nature of gift, which cannot be allowed u/s 37. However, we make it clear that if the assessee produce necessary details to claim exemption u/s 80G of the Act, the same may be examined and exemption u/s 80G may be granted after verifying the relevant details from the receipt issued by the respective party. - AT

View Source

← Previous Next →

Disallowance in respect of gift and donation given to third ...

Income Tax

April 11, 2023

You may also like:

Addition on account of gift and presents and general expenses - All the expenses as claimed are fully verifiable and supported by third party vouchers - AO cannot make...

Disallowance of conveyance expenses, staff welfare expenses, sundry expenses and traveling expenses - certain expenses were not supported by third party vouchers,...

Levy of GST on the service of display of name or placing of name plates of the donor in the premises of charitable organisations receiving donation or gifts from individual donors

Disallowance of deduction claimed u/s 35(i)(ii) - bogus donation - donation given by the assessee to the donee, on which the assessee no mechanism to check the veracity,...

Non charitable activities - assessee failure to prove the donations received are corpus donations - not having registration u/s 12A - additions and disallowance confirmed - AT

Valuation of goods - Third party inspection - third party's inspection charges initially paid by the appellants and subsequently reimbursed by the buyers is not...

Jewellery, silver utensils and cash amounting were seized during search - assessee submitted that the articles belong to third party - Mere declaration by third parties...

Validity of Tribunal’s order - Genuineness of gift – Rarely one finds a poor man giving gifts to a rich and powerful, out of natural love and affection - HC

Addition u/s 68 - it is seen that the this Gift is given from donor's NRE bank account maintained with Axis Bank. It entails particulars of cheque number, date of giving...

Disallowance based on third party information gathered by Investigation Wing of the Department - AO denied opportunity of cross examination - High Court affirmed the...

Quick Updates: