https://www.taxtmi.com/caselaws?id=265803 The Tribunal reversed the penalty imposed under section 271(1)(c) of the Income Tax Act on a charitable trust for not fully disclosing voluntary donations received in cash. The trust's explanation, accepted by the Assessing Officer, that some donations were anonymous due to lack of donor details was deemed bonafide. The Tribunal emphasized the absence of evidence disproving the trust's explanation and cited precedents requiring material evidence for penalties. The penalty was deleted as the trust was found not to have concealed income or furnished inaccurate particulars, differing from the Mak Data case. en-us Fri, 24 Jul 2015 00:00:00 +0530 Fri, 16 Oct 2015 06:17:42 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=265803 The Tribunal reversed the penalty imposed under section 271(1)(c) of the Income Tax Act on a charitable trust for not fully disclosing voluntary donations received in cash. The trust's explanation, accepted by the Assessing Officer, that some donations were anonymous due to lack of donor details was deemed bonafide. The Tribunal emphasized the absence of evidence disproving the trust's explanation and cited precedents requiring material evidence for penalties. The penalty was deleted as the trust was found not to have concealed income or furnished inaccurate particulars, differing from the Mak Data case. Case-Laws Income Tax Fri, 24 Jul 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=265803