https://www.taxtmi.com/caselaws?id=446056 The HC dismissed an appeal challenging additions made under Section 68 read with Section 115BBE regarding corpus donations received by a trust. The assessing officer found that donor companies were struck off by the Registrar of Companies and treated them as shell companies, questioning their genuineness, identity, and creditworthiness. The trust failed to produce company directors when given opportunity and could not establish that donors were functional at the time of donations. The geographical distance between donors and the educational institution, combined with unexplained reasons for donations, further raised suspicions. The HC upheld the lower authorities' findings that the trust could not provide sufficient evidence to dispel doubts about the donations' authenticity, confirming the tax additions. en-us Wed, 15 Nov 2023 00:00:00 +0530 Mon, 20 Jan 2025 11:00:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=446056 The HC dismissed an appeal challenging additions made under Section 68 read with Section 115BBE regarding corpus donations received by a trust. The assessing officer found that donor companies were struck off by the Registrar of Companies and treated them as shell companies, questioning their genuineness, identity, and creditworthiness. The trust failed to produce company directors when given opportunity and could not establish that donors were functional at the time of donations. The geographical distance between donors and the educational institution, combined with unexplained reasons for donations, further raised suspicions. The HC upheld the lower authorities' findings that the trust could not provide sufficient evidence to dispel doubts about the donations' authenticity, confirming the tax additions. Case-Laws Income Tax Wed, 15 Nov 2023 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=446056