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ITAT Delhi: Corpus Donation Not Income – ₹26.25 Lakh Addition on Trust Deleted
Case Law Details
- Case Name
- Sai Man Education Society Vs ITO (ITAT Delhi)
- Appeal Number
- Only available for paid members
- Date of Judgement/Order
- Only available for paid members
- Related Assessment Year
- 2017-18
- Courts
- All ITAT, ITAT Delhi
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Sai Man Education Society Vs ITO (ITAT Delhi)
Corpus Donation Not Income– Trust Proved Donor Identity & Genuineness+ ITAT Delhi Deletes ₹26 Lakh Corpus Donation Addition
Facts:
Assessee: The Sai Man Education Society, a trust registered u/s 10(23C)(iiiad), engaged in educational activities.
Received voluntary corpus donation of ₹26.25 lakh from M/s PR Systems through banking channels (Nov 2016).
Amount shown in financials as corpus fund.
Submitted receipts, donor’s PAN, KYC docs, certificate declaring donation as “corpus”, & donor confirmation.
AO’s Action: Rejected clai...
Author Info
