Tribunal Upholds Reopening of Assessment; Stresses Donations Must Be to Genuine Institutions for Deduction Eligibility.

Tribunal Upholds Reopening of Assessment; Stresses Donations Must Be to Genuine Institutions for Deduction Eligibility. https://www.taxtmi.com/highlights?id=74598 Reopening of assessment - Disallowance of deduction claimed u/s 35(1)(ii) - The tribunal upheld the reopening of the assessment, ruling it as a procedural irregularity that does not invalidate the proceedings, and found no merit in the assessee's objections regarding the entitlement to deductions u/s 35(1)(ii), emphasizing the necessity for donations to be made to genuine institutions for claiming such deductions. en-us Fri, 02 Feb 2024 07:51:14 +0530 Fri, 02 Feb 2024 07:51:14 +0530 TaxTMI RSS Generator Tribunal Upholds Reopening of Assessment; Stresses Donations Must Be to Genuine Institutions for Deduction Eligibility. https://www.taxtmi.com/highlights?id=74598 Reopening of assessment - Disallowance of deduction claimed u/s 35(1)(ii) - The tribunal upheld the reopening of the assessment, ruling it as a procedural irregularity that does not invalidate the proceedings, and found no merit in the assessee's objections regarding the entitlement to deductions u/s 35(1)(ii), emphasizing the necessity for donations to be made to genuine institutions for claiming such deductions. Highlights Income Tax Fri, 02 Feb 2024 07:51:14 +0530 https://www.taxtmi.com/highlights?id=74598