https://www.taxtmi.com/caselaws?id=311671 ITAT Delhi upheld CIT(A)'s decision deleting additions made by AO under sections 68 and 115BBC regarding unverifiable donations to a trust's corpus fund. CIT(A) found that since the trust maintained proper records of donors' identities and addresses, which were accepted by AO in original assessment, the donations could not be considered anonymous under section 115BBC(3). The requirement under section 115BBC differs from the onus under section 68 to prove donors' creditworthiness. Revenue failed to demonstrate any fallacy in CIT(A)'s findings, resulting in dismissal of Revenue's grounds. en-us Fri, 21 Oct 2022 00:00:00 +0530 Mon, 08 Jan 2024 10:26:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=311671 ITAT Delhi upheld CIT(A)'s decision deleting additions made by AO under sections 68 and 115BBC regarding unverifiable donations to a trust's corpus fund. CIT(A) found that since the trust maintained proper records of donors' identities and addresses, which were accepted by AO in original assessment, the donations could not be considered anonymous under section 115BBC(3). The requirement under section 115BBC differs from the onus under section 68 to prove donors' creditworthiness. Revenue failed to demonstrate any fallacy in CIT(A)'s findings, resulting in dismissal of Revenue's grounds. Case-Laws Income Tax Fri, 21 Oct 2022 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=311671