School Fees Treated as Unexplained Income? ITAT Bangalore Orders Fresh Examination

Shobha Welfare Society Vs ITO (ITAT Bangalore) Overview of the Dispute The appeal before the Income Tax Appellate Tribunal (ITAT), Bangalore Bench, arose from a dispute between the Shobha Welfare Society (the Assessee) and the Income Tax Officer (ITO) concerning the assessment year 2018-19. The central issue was the addition of Rs. 64,98,470/- to the society’s total income, which the Assessing Officer (AO) treated as unexplained money under Section 69A of the Income Tax Act, 1961. The society, a non-profit organization registered under the Karnataka Society Registration Act, 1960, operates...