Section 35(1)(ii) Deduction Restored: Donation Can’t Be Denied Due to Later Withdrawal of Approval

A.K. Exporters Vs DCIT (ITAT Kolkata) Section 35(1)(ii) Deduction Restored: Donation Can’t Be Denied Due to Later Withdrawal of Approval Issue concerned denial of weighted deduction u/s 35(1)(ii) in respect of donations made to M/s Herbicure Healthcare Bio Herbal Research Foundation, Kolkata, on the ground that its approval was subsequently withdrawn retrospectively. Tribunal noted that the issue stands squarely covered by binding judgments of the Calcutta High Court in Maco Corporation India Pvt. Ltd. & J.P. Financial Services Pvt. Ltd., which hold that deduction once validly claimed on...