Case Law Details
Case Name : Mahayana Theravada Vajrayana Buddhist Religious and Charitable Trust Vs ACIT (ITAT Delhi)
Related Assessment Year : 2013-14
Courts :
All ITAT ITAT Delhi
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Mahayana Theravada Vajrayana Buddhist Religious and Charitable Trust Vs ACIT (ITAT Delhi)
Additions on Alleged Bogus Loans & Donations Deleted – Sanction Defect Vitiates Reopening Beyond 4 Years: ITAT Delhi
Delhi ITAT dealt with three appeals concerning additions made on account of unsecured loans & donations alleged to be accommodation entries.
AY 2013-14
The reassessment was initiated u/s 147 on the basis of information that Trust had taken an accommodation entry of ₹6 lakh from one Shri Hans Kumar. AO treated it as unexplained cash credit u/s 68 which was confirmed by CIT(A)....
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