https://www.taxtmi.com/caselaws?id=450071 The ITAT Indore ruled in favor of the assessee trust on two issues. First, the AO's addition under section 115BBC for anonymous donations exceeding Rs. 50,000 was deleted, as the statute only requires maintaining donor identity records with name and address, not PAN or bank statements. The trust had provided donor lists with names and addresses, satisfying statutory requirements. Second, regarding addition under section 68 for unsecured loans and consequential denial of section 11 benefits, the matter was remanded to the AO for proper verification of whether loan amounts were applied for charitable purposes, which could entitle the trust to section 11 benefits. en-us Wed, 21 Feb 2024 00:00:00 +0530 Tue, 27 Feb 2024 08:43:59 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=450071 The ITAT Indore ruled in favor of the assessee trust on two issues. First, the AO's addition under section 115BBC for anonymous donations exceeding Rs. 50,000 was deleted, as the statute only requires maintaining donor identity records with name and address, not PAN or bank statements. The trust had provided donor lists with names and addresses, satisfying statutory requirements. Second, regarding addition under section 68 for unsecured loans and consequential denial of section 11 benefits, the matter was remanded to the AO for proper verification of whether loan amounts were applied for charitable purposes, which could entitle the trust to section 11 benefits. Case-Laws Income Tax Wed, 21 Feb 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=450071