https://www.taxtmi.com/caselaws?id=776830 ITAT (Chandigarh) set aside additions under s.115BBC treating corpus receipts and certain unsecured loans as anonymous donations, finding the assessee had produced records (name, address, PAN) for contributors so the statutory definition of anonymous donation did not apply. The Tribunal declined to decide recharacterisation of unsecured loans as voluntary contributions on the record before it. Additions under s.68 for unexplained liabilities were also deleted, the Tribunal accepting these sums as contractually retained security/retention deposits tied to ongoing construction and directing deletion of the impugned assessments. Appeals allowed. en-us Tue, 07 Jan 2025 00:00:00 +0530 Wed, 20 Aug 2025 08:34:39 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=776830 ITAT (Chandigarh) set aside additions under s.115BBC treating corpus receipts and certain unsecured loans as anonymous donations, finding the assessee had produced records (name, address, PAN) for contributors so the statutory definition of anonymous donation did not apply. The Tribunal declined to decide recharacterisation of unsecured loans as voluntary contributions on the record before it. Additions under s.68 for unexplained liabilities were also deleted, the Tribunal accepting these sums as contractually retained security/retention deposits tied to ongoing construction and directing deletion of the impugned assessments. Appeals allowed. Case-Laws Income Tax Tue, 07 Jan 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=776830