https://www.taxtmi.com/caselaws?id=766579 ITAT Mumbai held that reopening of assessment for a charitable trust was invalid as AO's belief was based on legal opinion rather than tangible material. The trust qualified for exemption under section 115BBC(2) as it was registered as both charitable and religious, making anonymous donations non-taxable. The tribunal allowed deduction under section 11(1)(a) on gross receipts following SC precedent and permitted enhanced deduction under section 11(2) despite Form No.10 deficiencies, noting AO had initially allowed deduction using same documents. Assessee's appeal was allowed. en-us Fri, 17 Jan 2025 00:00:00 +0530 Fri, 28 Feb 2025 08:23:14 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=766579 ITAT Mumbai held that reopening of assessment for a charitable trust was invalid as AO's belief was based on legal opinion rather than tangible material. The trust qualified for exemption under section 115BBC(2) as it was registered as both charitable and religious, making anonymous donations non-taxable. The tribunal allowed deduction under section 11(1)(a) on gross receipts following SC precedent and permitted enhanced deduction under section 11(2) despite Form No.10 deficiencies, noting AO had initially allowed deduction using same documents. Assessee's appeal was allowed. Case-Laws Income Tax Fri, 17 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=766579