https://www.taxtmi.com/caselaws?id=786910 Reconciliation of contractual receipts shown net of GST against Form 26AS was accepted, leading to deletion of an addition for short-declared receipts and restoration of the assessee's claim on that head. Separately, an interest-free advance to a trustee was treated as conferring benefit on a specified person and therefore as diversion/application of income, resulting in denial of exemption to that extent under the trust-exemption provisions. Outcome: reconciliation-based deletion upheld for the assessee; application of the anti-diversion principle to the trustee advance upheld for the Revenue, producing a mixed result. en-us Thu, 19 Feb 2026 00:00:00 +0530 Sat, 21 Feb 2026 09:29:56 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=786910 Reconciliation of contractual receipts shown net of GST against Form 26AS was accepted, leading to deletion of an addition for short-declared receipts and restoration of the assessee's claim on that head. Separately, an interest-free advance to a trustee was treated as conferring benefit on a specified person and therefore as diversion/application of income, resulting in denial of exemption to that extent under the trust-exemption provisions. Outcome: reconciliation-based deletion upheld for the assessee; application of the anti-diversion principle to the trustee advance upheld for the Revenue, producing a mixed result. Case-Laws Income Tax Thu, 19 Feb 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=786910