https://www.taxtmi.com/caselaws?id=450741 The Tribunal upheld the denial of the weighted deduction for the assessee's donation under section 35(1)(ii) of the Income Tax Act, 1961, due to the recipient institute's expired approval for scientific research donations. Consequently, the donation was deemed fraudulent. Additionally, the Tribunal rejected the assessee's argument that the disallowed donation should not affect book profits under section 115JB, affirming that book profits must reflect actual profits. The appeal was dismissed, and no separate judgment was issued by the judges. en-us Wed, 06 Mar 2024 00:00:00 +0530 Mon, 11 Mar 2024 08:29:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=450741 The Tribunal upheld the denial of the weighted deduction for the assessee's donation under section 35(1)(ii) of the Income Tax Act, 1961, due to the recipient institute's expired approval for scientific research donations. Consequently, the donation was deemed fraudulent. Additionally, the Tribunal rejected the assessee's argument that the disallowed donation should not affect book profits under section 115JB, affirming that book profits must reflect actual profits. The appeal was dismissed, and no separate judgment was issued by the judges. Case-Laws Income Tax Wed, 06 Mar 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=450741