Protective Additions fails Once Substantive Additions Confirmed: ITAT Chandigarh

ACIT Vs Satguru Foundation (ITAT Chandigarh) Protective Additions Unsustainable Once Substantive Additions Confirmed – ITAT Chandigarh Deletes Protective Additions in Hands of Trust The Chandigarh Bench of the ITAT dismissed the Revenue’s appeals and upheld deletion of protective additions made in the hands of M/s Satguru Foundation (a charitable trust), holding that once substantive additions on the same income were sustained in the hands of identified individuals, the same amount cannot again be taxed protectively in the hands of the trust. During survey proceedings at the premises of th...