Monday, March 15, 2021

No additions for donations where same were utilised for assessee's objectives even if it is not registered u/s 12AA

INCOME TAX : Where assessee society, engaged in carrying on religious and charitable projects, had utilized maximum part of an anonymous voluntary donation received by it for aims and objectives of society, no addition qua said donation was to be made on ground that assessee society was not registered under section 12AA in current year though it was granted registration later

from www.taxmann.com Latest Case Laws https://ift.tt/3eDsfT3

No comments:

Post a Comment

AO can’t disallow cost of improvement merely relying on enquiries made with assessee’s neighbour: ITAT

INCOME TAX : Where assessee had purchased a flat and incurred expenditure of Rs. 23 lakhs for purpose of renovating house and Assessing Offi...