Section 68 Inapplicable to Identified Donations to Charitable Trust

DCIT Vs Guru Gobind Singh Educational Charitable Trust (ITAT Delhi) Section 68 Not Applicable to Identified Donations to Registered Trust: ITAT Delhi Upholds Deletion of ₹1.99 Crore Addition The Delhi Bench of the ITAT dismissed the Revenue’s appeal and upheld the CIT(A)’s order deleting additions made u/s 68 & disallowance of fabrication charges in the case of a charitable trust registered under Sections 12A and 80G. On the donations issue, the Tribunal held that voluntary and corpus donations amounting to ₹1.99 crore could not be treated as unexplained cash credits where the asse...