Recorded Real Estate Sales Defeat Section 69A Addition on Political Donation: ITAT Delhi

ACIT Vs Vishakha Builders LLP (ITAT Delhi) Political Donation Treated as Explained – Section 69A Addition Deleted When Funds Recorded in Books Routed Through Bank The Delhi ITAT dismissed the Revenue’s appeal and upheld the deletion of addition of ₹3.25 crore made under Section 69A in respect of contribution given by the assessee-LLP to a political party and claimed as deduction under Section 80GGB. The Tribunal noted that the assessee was a real-estate developer, had sold properties held as stock-in-trade during the year, and the entire sale proceeds and subsequent donation were duly re...