https://www.taxtmi.com/caselaws?id=448256 The ITAT Delhi upheld CIT(A)'s decision regarding a trust's assessment for construction of public toilets under Swachh Bharat Abhiyan. The tribunal held that Rs. 1,50,00,000 Swachh Bharat Fund was correctly routed through income-expenditure account, rejecting AO's addition. For R&R Disaster Relief funds, the tribunal affirmed that the assessee, being CSR arm of THDCIL, held funds in fiduciary capacity as nodal agency for PSUs/departments. Since funds couldn't be used for trust's own objectives and had to be returned to contributing agencies, direct transfer to balance sheet was proper. No additions were warranted as assessee merely facilitated fund distribution to designated state agencies. en-us Thu, 11 Jan 2024 00:00:00 +0530 Mon, 04 Mar 2024 16:53:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=448256 The ITAT Delhi upheld CIT(A)'s decision regarding a trust's assessment for construction of public toilets under Swachh Bharat Abhiyan. The tribunal held that Rs. 1,50,00,000 Swachh Bharat Fund was correctly routed through income-expenditure account, rejecting AO's addition. For R&R Disaster Relief funds, the tribunal affirmed that the assessee, being CSR arm of THDCIL, held funds in fiduciary capacity as nodal agency for PSUs/departments. Since funds couldn't be used for trust's own objectives and had to be returned to contributing agencies, direct transfer to balance sheet was proper. No additions were warranted as assessee merely facilitated fund distribution to designated state agencies. Case-Laws Income Tax Thu, 11 Jan 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=448256