Addition u/s 68 - anonymous donations u/s 115BBC - the action of ...

Assessing Officer's classification of deposits as anonymous donations u/s 115BBC ruled unlawful due to clear creditor identification.

August 21, 2021

Case Laws Income Tax AT

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 since all the loan creditors had opening balances and had also filed copies of ITRs, Thus, by no stretch of imagination could the AO treat these loans as anonymous donation u/s 115BBC. - AT

View Source

← Previous Next →

Addition u/s 68 - anonymous donations u/s 115BBC - the action of ...

Assessing Officer's classification of deposits as anonymous donations u/s 115BBC ruled unlawful due to clear creditor identification.

August 21, 2021

Case Laws Income Tax AT

You may also like:

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...

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...

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

Section 115BBC - Anonymous Donations - Confirmation obtained from donors during the course of remand proceedings, therefore, impugned donations are no more anonymous in nature.

Addition of donations as anonymous donation u/s 115BBC - since the donations were duly treated as income by the assessee, section 68 could not have been invoked. -...

This case deals with the tax liability u/s 115BBC(1) for anonymous donations received in the "Hundi" by a charitable and religious trust. The key points are: The...

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...

Exemption u/s.11(1)(d) - Assessment of trust - corpus donations - anonymous donations and taxing the same u/s.115BBC - Going with the prescription of section 115BBC...

Offerings at the temple received in donation boxes - it is generally not only difficult but also not possible to maintain records - cannot be taxed as Anonymous...

Anonymous donations to be taxed under section 115BBC(1) - We find that Assessing Officer had called for the details of donations received by the assessee, which the...

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...

Anonymous donation - The ITRs and the letters from the donors stating that the donation has been given for the trust for conference, and towards the corpus fund. Hence,...

Exemption u/s 11 - taxability of anonymous donation u/s 115BBC - CBDT not yet prescribed particulars which is required to be maintained by the assessee trust - it is...

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...

ITAT ruled invalid reopening of assessment for a religious and charitable trust regarding anonymous Hundi/charity box collections under s.115BBC. AO's belief based on...

Quick Updates: