Anonymous donations - addition u/s 68 as unexplained cash ...

Case Laws Income Tax

September 12, 2015

Anonymous donations - addition u/s 68 as unexplained cash credits - once donation received was taken as income of the assessee which was applied for charitable purposes, provisions of section 68 of the Act cannot be invoked - AT

View Source

← Previous Next →

Anonymous donations - addition u/s 68 as unexplained cash ...

Case Laws Income Tax

September 12, 2015

You may also like:

Addition of cash donations as ‘Anonymous’ u/s 115BBC - onus to proof - The plea of the appellant that the clerk in the first instance submitted the incorrect list as the...

Unexplained cash credit u/s 68 - proof of donation received - the assessee not only disclosed its donation but also produced confirmation from the Secretary of the trust...

Unexplained cash credit in form of corpus donation - During remand proceedings, four donation receipt books were produced which were newly bound and freshly written -...

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...

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...

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...

Rejection of the books of accounts - best judgment assessment u/s 144 - addition of the sales made in cash on account of unexplained cash credit u/s 68 - While the...

Additions u/s 68 - unsecured loans - unexplained cash credit - proof of source of source or origin of the cash credits – Very genuineness of the transaction was not...

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...

Unsecured loans treated as unexplained cash credits u/s 68. Interest paid on such unexplained loans also added to income. Assessee's contention of repayment of loans...

Addition unexplained cash credit u/s 68 - shares were issued at premium to certain companies in lieu of the shares held by the said companies and there was thus no...

Key legal issues and the Tribunal's holdings: Agricultural land sold by assessee situated beyond municipal limits cannot be treated as capital asset u/s 2(14). Addition...

Unexplained cash credit u/s. 68 r.w.s. 115BBE - Co-ordinate Benches of the Tribunal have held that any sum found credited in bank passbook could not be treated as an...

Trust: additions as anonymous donations u/s 115BBC rejected - AO doubted genuineness of donors without substantiating evidence. Assessee provided complete donor details...

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...

Quick Updates: