No Cash, No Assets, No Trail- Dumb Documents Can’t Sustain ₹23 Cr Addition

Sri Devaraj Urs Educational Trust Vs ACIT (ITAT Bangalore) No Cash, No Assets, No Trail- Dumb Documents Can’t Sustain ₹23 Cr Addition – ITAT Bangalore Deletes ₹23.77 Cr Capitation Fee Addition & Restores Exemption u/s 11 Background: Sri Devaraj Urs Educational Trust (Kolar), running medical & allied institutions, faced search u/s 132 on 10.10.2019. Excel sheets seized from cashier’s computer & documents from an alleged agent (Shri T. Babu) suggested collection of capitation fees for admissions. AO treated these as incriminating & added ₹23.77 Cr for AY 2020-21; ...