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TMI Blog1978 (9) TMI 22X X X X Extracts X X X X X X X X Extracts X X X X ..... ring the accounting year relevant to the assessment year 1971-72, the assessee-HUF donated some shares to Smt. Sulochana Devi School Trust, Bombay. In the assessment proceedings, the assessee claimed relief under s. 8OG of the I.T. Act. This relief was disallowed. The assessee went up in appeal. The AAC allowed the appeal in part. Aggrieved, the department filed an appeal before the Tribunal. The ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... as a deduction are sums paid by the assessee as donations to a local authority to be utilised for any charitable purpose and that a donation of a statue or a gate to a local authority does not fall within the purview of s. 80G. In other words, it was held that the donation ought to be in cash before it could attract section 80G. This view finds support from the decision of the Andhra Pradesh High ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... gar in the case of sugar mills, the benefit of section 15B of the 1922 Act may be given to such donations also and that the value of the stock-in-trade donated should be included in the sale and the contra debit to the profit and loss account should be treated as the sum donated '. " This circular was withdrawn by the Board on January 17, 1964. Referring to this circular the Mysore High Court obs ..... X X X X Extracts X X X X X X X X Extracts X X X X
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