https://www.taxtmi.com/caselaws?id=799118 Differences between FCRA disclosures and income-tax return reporting cannot be treated as undisclosed income through a section 143(1) adjustment merely because the FCRA figure includes interest earned on invested foreign contributions. FCRA and income-tax disclosures serve different statutory purposes and require reconciliation based on substance rather than form. Where foreign contributions and related interest are separately declared, accounts are audited without qualification, the reporting approach has been accepted in other years, and supporting explanations are provided in rectification proceedings, a prima facie adjustment is unsustainable. The addition was deleted. en-us Wed, 15 Jul 2026 00:00:00 +0530 Thu, 17 Sep 2026 07:52:30 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=799118 Differences between FCRA disclosures and income-tax return reporting cannot be treated as undisclosed income through a section 143(1) adjustment merely because the FCRA figure includes interest earned on invested foreign contributions. FCRA and income-tax disclosures serve different statutory purposes and require reconciliation based on substance rather than form. Where foreign contributions and related interest are separately declared, accounts are audited without qualification, the reporting approach has been accepted in other years, and supporting explanations are provided in rectification proceedings, a prima facie adjustment is unsustainable. The addition was deleted. Case-Laws Income Tax Wed, 15 Jul 2026 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=799118