Search Assessment – Telescoping Upheld, No Double Taxation & U/s 234A Interest Curtailed

ACIT Vs Meenakshi Ammal Trust (ITAT Chennai) The ITAT Chennai dismissed the Revenue’s appeal and upheld the CIT(A)’s order granting substantial relief to a charitable educational trust in a search assessment u/s 153A for AY 2013-14. The core dispute related to ₹6.74 crore treated by the AO as anonymous donations, alleging it represented accommodated salary / festival / material advances. The Tribunal noted that the assessee had already voluntarily disclosed ₹16.28 crore as accommodated receipts during assessment, which were accepted and taxed. Out of this, ₹7.78 crore remained unallo...