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Income Tax - Highlights / Catch Notes

Home Highlights November 2023 Year 2023 This

Assessment of trust - corpus donation receipts - addition u/s 68 ...

Income Tax

November 24, 2023

Assessment of trust - corpus donation receipts - addition u/s 68 - Nothing was brought on record that they were actually functioning at the time of donations and when they were struck off. In such circumstances, we are of the considered opinion that the genuineness, identity and creditworthiness of these companies was rightly doubted by the AO and in such circumstances, the additions had been made - Additions confirmed - HC

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