Condition of investment of corpus donation in prescribed mode u/s. 11(5) effective only from 01.04.2022

Sew Foundation Vs ITO (Exemptions) (ITAT Hyderabad) ITAT Hyderabad held that condition of investment to the corpus donation in mode prescribed under section 11(5) of the Income Tax Act is effective only from 01/04/2022. Hence the said condition is not applicable in the relevant year. In the result, appeal of assessee is allowed. Facts- The assessee has received corpus donation during the relevant financial year. AO has made an addition of the said amount of corpus donation of Rs.28,74,878/- for want of documentary evidence to prove the corpus donation. CIT (A) has confirmed the disallowance ma...