Bogus Research Donation Claim Disallowed After CBDT Finds Misuse

Cosmos Engitech Pvt. Ltd. Vs ACIT (ITAT Ahmedabad) Bogus Research Donation: Bona Fides No Defence, Claim Crumbles After CBDT Withdrawal from retrospective effect Assessee appealed against the order of CIT(A)/NFAC sustaining the reopening u/s 147 & disallowance of Rs.52,50,000/- claimed u/s 35(1)(ii) on donation of Rs.30,00,000/- to M/s Bioved Research Society, along with weighted deduction. Assessee argued that the claim was genuine, donation was made through banking channels in March 2015 & valid approval under section 35(1)(ii) existed at that time as per the receipt issued by the do...