Section 35(1)(iii) Donation Deduction Cannot Be Denied on Later Withdrawal of Institution Approval

NND Ambernath LLP Vs ACIT (ITAT Mumbai) Explanation to Sec.35 Protects Donor- Retrospective Cancellation No Bar – Tribunal Deletes Disallowance of 35(1)(iii) Deduction The appeal was filed by NND Ambernath LLP against the order of CIT(A)-51, Mumbai dated 22.11.2024, confirming disallowance of donation of Rs.1.75 crore given to School of Human Genetics & Population Health, for which deduction was claimed u/s 35(1)(iii). Assessee, engaged in business of builders & developers, filed return declaring total income of Rs.22.02 crore. During assessment, AO noticed claim of deduction u/s 35(...