https://www.taxtmi.com/caselaws?id=417116 The Income Tax Appellate Tribunal (ITAT) upheld the Commissioner of Income Tax (Appeals)'s decision to delete the addition of Rs. 7,12,60,000 on account of corpus donation. The ITAT affirmed that the trust's accounts were authentic, and the Assessing Officer failed to conduct a proper inquiry. The ITAT dismissed the Revenue's appeal, upholding the deletion of the addition and holding the interest received on the corpus donation as taxable income of the trust. The decision was pronounced on 24th November 2021. en-us Wed, 24 Nov 2021 00:00:00 +0530 Sat, 15 Jan 2022 08:49:35 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=417116 The Income Tax Appellate Tribunal (ITAT) upheld the Commissioner of Income Tax (Appeals)'s decision to delete the addition of Rs. 7,12,60,000 on account of corpus donation. The ITAT affirmed that the trust's accounts were authentic, and the Assessing Officer failed to conduct a proper inquiry. The ITAT dismissed the Revenue's appeal, upholding the deletion of the addition and holding the interest received on the corpus donation as taxable income of the trust. The decision was pronounced on 24th November 2021. Case-Laws Income Tax Wed, 24 Nov 2021 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=417116