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Income Tax - Highlights / Catch Notes

Home Highlights August 2023 Year 2023 This

Revision u/s 263 - ‘anonymous donation’ receipts - the assessee ...

Income Tax

August 7, 2023

Revision u/s 263 - ‘anonymous donation’ receipts - the assessee had furnished record of the identities indicating name and address of persons making the contributions. Revenue has not been able to demonstrate further requirement by prescribed particulars, as mentioned under sub-section (3) in section 115-BBC - Order of ITAT deleting the additions sustained - HC

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  1. Revision u/s 263 by CIT - taxation being anonymous donation received in cash u/s 115BBC - According to the provisions of Section 115BBC, on anonymous donation tax is...

  2. Section 115BBC - Anonymous Donations - Confirmation obtained from donors during the course of remand proceedings, therefore, impugned donations are no more anonymous in nature.

  3. Revision u/s 263 - Eligibility of deduction u/s 80G - Deduction u/s 80G for donation made to Ramkrishna Mission Ashram, ld. PCIT took an adverse view for want of...

  4. Validity of Notice issued u/s 142(1) - Anonymous Donations - 'Charity Box' (Gollak box) being the donations made by various followers and devotees visiting the Gurudwara...

  5. Offerings at the temple received in donation boxes - it is generally not only difficult but also not possible to maintain records - cannot be taxed as Anonymous...

  6. Addition of donations as anonymous donation u/s 115BBC - since the donations were duly treated as income by the assessee, section 68 could not have been invoked. -...

  7. Levy of tax on Anonymous donation u/s 115BBC - Section 68 has no application in the instant case because the assessee has disclosed the donation as its income and...

  8. Addition u/s 68 - anonymous donations u/s 115BBC - the action of the A.O. to treat the deposits under reference as anonymous donations u/s 115BBC is completely unlawful...

  9. Addition u/s 68 or 115BBC - The anonymous donations will not be covered if donations received by any trust or institution created or established wholly for religious...

  10. Exemption u/s.10(23) denied - anonymous donations received by any assessee or entity u/s.115BBC - without verifying the documents and objectively selecting some entries...

 

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