https://www.taxtmi.com/caselaws?id=448952 ITAT Kolkata upheld the AO's decision to reopen assessment and disallow deduction under section 35(1)(ii) for bogus donations. The tribunal rejected the assessee's cross-objection challenging reopening, finding that specific information from DDIT investigation regarding fraudulent accommodation entries by over 1500 donors provided valid grounds for reopening within four years. The AO's opinion was not considered "borrowed" as it was based on transmitted investigation material. Regarding the donation deduction, ITAT found the assessee failed to prove genuineness after Revenue dispelled initial onus with credible evidence of organized fraud involving 720 entities. The tribunal emphasized this was criminal conspiracy to defraud the nation, not genuine charitable giving, and restored the AO's order denying the deduction. en-us Wed, 24 Jan 2024 00:00:00 +0530 Thu, 01 Feb 2024 13:25:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=448952 ITAT Kolkata upheld the AO's decision to reopen assessment and disallow deduction under section 35(1)(ii) for bogus donations. The tribunal rejected the assessee's cross-objection challenging reopening, finding that specific information from DDIT investigation regarding fraudulent accommodation entries by over 1500 donors provided valid grounds for reopening within four years. The AO's opinion was not considered "borrowed" as it was based on transmitted investigation material. Regarding the donation deduction, ITAT found the assessee failed to prove genuineness after Revenue dispelled initial onus with credible evidence of organized fraud involving 720 entities. The tribunal emphasized this was criminal conspiracy to defraud the nation, not genuine charitable giving, and restored the AO's order denying the deduction. Case-Laws Income Tax Wed, 24 Jan 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=448952