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Uncorroborated 132(4) Statement Can’t Tax a Genuine Donation
Case Law Details
- Case Name
- Nandlal Tolani Charitable Trust Vs ITO (Exemption) (ITAT Mumbai)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2019-20
- Courts
- All ITAT, ITAT Mumbai
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Nandlal Tolani Charitable Trust Vs ITO (Exemption) (ITAT Mumbai)
Assessee Trust made a donation of ₹10,00,000 to All India Social Educational Charitable Trust, a registered trust holding valid 12A & 80G approvals. AO treated the donation as bogus u/s 69C solely on the basis of search statements of two persons managing the donee trust, who allegedly admitted to returning donation amounts after retaining 0.25% commission. No seized material, no bank-trail, no corroborative documents, & no incriminating evidence against Assessee were brought on record. Assessee was never confronted with...
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