Non-Consideration of Submissions: ITAT deletes Rs. 52.25 Lakh Addition

Future Education & Research Trust Vs DCIT (ITAT Kolkata) The ITAT Kolkata ruled in favor of Future Education & Research Trust, deleting the Rs.52.25 lakh addition made under Section 69A of the Income Tax Act, 1961. The trust, registered under Sections 12A and 10(23C)(vi), faced scrutiny for alleged unaccounted fees collected from students admitted under the management quota during Assessment Year 2013-14. The Assessing Officer (AO) had claimed the amount was not reflected in the trust’s Income & Expenditure Account, treating it as unexplained cash. The Commissioner of Income ...