Case Law Details
Ravindra K. Reshamwala Vs ITO (ITAT Mumbai)
The Income Tax Appellate Tribunal (ITAT) Mumbai, in the case of Ravindra K. Reshamwala Vs Income Tax Officer (ITO), has delivered a significant judgment on the disallowance of deductions under Section 35-AC of the Income Tax Act, 1961. This case underlines the criticality of substantial evidence over mere allegations in the context of tax deductions.
Detailed Analysis
The appellant, Ravindra K. Reshamwala, contested the order dated June 26, 2023, by the Commissioner of Income Tax (Appeals), National Faceless Appeal Centre, Delhi, for the assessment year 2010-11. The core of the dispute revolved around a deduction of Rs. 35,00,000 claimed under Section 35-AC, which was disallowed by the assessing officer based on allegations of non-genuineness associated with the donation made to Navjeevan Charitable Trust.
Reshamwala raised multiple grounds of appeal, challenging both the procedural aspects of the reassessment notice under Section 148 and the merits of the disallowance. The appellant argued that the donation was made in compliance with the provisions of the Income Tax Act, with the Trust having the requisite approvals at the time of the donation.
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