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TMI Blog2021 (10) TMI 347X X X X Extracts X X X X X X X X Extracts X X X X ..... d as unexplained as alleged by the revenue. Thus, no addition of whatsoever is required to be made by treating the amount of donation as unexplained. - Decided in favour of assessee. - ITA No. 2409/AHD/2018 - - - Dated:- 27-9-2021 - Rajpal Yadav, Vice President and Waseem Ahmed, Member (A) For the Appellant : S. N. Divatia, A.R. For the Respondents : Virendra Ojha, CIT-D.R. ORDER Per Waseem Ahmed , Accountant Member The captioned appeal has been filed at the instance of the Assessee against the order of the Learned Commissioner of Income Tax(Appeals), Gandhinagar, dated 05/09/2018 arising in the matter of assessment order passed under s. 143(3) of the Income Tax Act, 1961 (here-in-after referred to as the Act ) re ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rief are that the assessee in the present case is a public charitable trust and engaged in the activity of education. The assessee in the year under consideration has presented addition of ₹ 13,58,001.00 in the building fund account shown on the side of the liability of its balance sheet as on 31 March 2009. On perusal of such addition, the AO was of the view that the assessee has incurred capital expenditure to the tune of ₹ 13,58,001.00 only for the building construction. But the assessee has not furnished the details of the expenditure incurred by it (the assessee) towards the construction of the building. Thus the AO was of the opinion that the amount of ₹ 13,58,001.00 should be added to the total income of the assesse ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... fund received during the year under consideration for ₹ 13,58,001.00 were furnished during the assessment proceedings. For this purpose the learned AR drew our attention on pages 22-24 of the paper book where the list of donors was placed. Likewise, the learned AR also filed the receipts issued against the amount of corpus donation received from the various parties which are placed on pages 26-60 of the paper book. ii. The AO has wrongly assumed that the amount shown under the head building fund was incurred towards the building expenditure for the purpose of construction. There was only an increase of ₹ 1,96,223.00 in the fixed assets whereas building fund was credited by ₹ 13,58,001 only. Thus the entire foundation ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... spect to the donation shown by the assessee, the same cannot be treated as unexplained as alleged by the revenue. Thus, no addition of whatsoever is required to be made by treating the amount of donation as unexplained. Thus without going into the other details/arguments advanced by the learned AR at the time of hearing, the ground of appeal of the assessee is allowed on the preliminary issue that necessary verification was not carried out with respect to the details furnished by the assessee in support of the corpus donation as discussed above. Hence the ground of appeal of the assessee is allowed. 10. In the result the appeal of the assessee is allowed. Order pronounced in the Court on 27/09/2021 at Ahmedabad. - - TaxTMI - TMITa ..... X X X X Extracts X X X X X X X X Extracts X X X X
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