Case Law Details
DCIT Vs Flt Lt. Rajan Dhall Charitable Trust (ITAT Delhi)
he issue in the present ground is with respect to the denial of claim of Rs.3.32 crores (rounded off) as application of income on account of provisions for doubtful debts. We find that CIT(A) after considering the submissions of the assessee has given a finding that the provision made by the assessee was ascertained and quantified and the provision was made in furtherance of the objectives of the trust. He further relying on the decision of Hon’ble Delhi High Court in the case of NASSCOM (supra) held that the income for application for charitable purpose is to be computed in accordance with the commercial principles. Before us, Revenue has not placed any contrary binding decision in its support nor has pointed to any fallacy in the findings of CIT(A). In such a situation, we find no reason to interfere with the order of CIT(A). Thus the grounds of the Revenue are dismissed.
FULL TEXT OF THE ORDER OF ITAT DELHI
This appeal filed by the Revenue is directed against the order dated 01.01.2018 of the Commissioner of Income Tax (CIT)- 40, Delhi relating to Assessment Year 2014-15.
2. The relevant facts as culled from the material on records are as under :
Please become a Premium member. If you are already a Premium member, login here to access the full content.
