Disallowance of weighted deduction claimed u/s 35(1)(ii) - ...

Company Challenges Disallowance of Deduction u/s 35(1)(ii) After Donee's Approval Rescinded; No Refund Evidence Found.

February 3, 2021

Case Laws Income Tax AT

Disallowance of weighted deduction claimed u/s 35(1)(ii) - approval granted to the donee organization was rescinded with retrospective effect - There is no conclusive evidence on record to show that the appellant company had received back the money from the donee made either in cash or any other or through banking channels. - The intent of the Legislature is clear that the donors should not be made suffer on account of fraud committed by the donee organization - AT

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Disallowance of weighted deduction claimed u/s 35(1)(ii) - ...

Company Challenges Disallowance of Deduction u/s 35(1)(ii) After Donee's Approval Rescinded; No Refund Evidence Found.

February 3, 2021

Case Laws Income Tax AT

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