Heavy Contract Payments by Trust Under Scanner: Matter Remanded for Verification

Global Vision Vs ITO (ITAT Mumbai) Heavy Contract Payments by Trust Under Scanner: Matter Remanded for Verification The assessee trust claimed substantial expenditure (₹1.89 crore) towards contractual salaries and incentives, treating it as application of income for charitable purposes. The AO disallowed the same on the ground that such expenses were not adequately justified as being for the objects of the trust, especially when they exceeded 20% of receipts. The Tribunal observed that although contractual appointments for fundraising may be permissible, the assessee failed to demonstrate th...