2019 (1) TMI 404

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....961 (hereinafter called the Act) vide order dated 17.04.2009 with effect from 01.05.2008. The assessee society also enjoys recognition u/s 80G of the Act. As per the Memorandum, the assessee society has been established to run colleges with an object to enhance the standard of education. The return of income for the year under consideration was filed declaring nil income. Subsequently, the case was selected for compulsory scrutiny. During the course of assessment proceedings, the assessee was required to furnish information regarding donations received along with names, addresses, bank accounts and copy of confirmations from the donors. The assessee submitted details of the donors/ donations. However, as some details as desired by the....

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....of the person making such contribution and such other particulars as may be prescribed. It was further submitted that the assessee has duly maintained particulars of the names and addresses of the donors and the same has not been disputed by the Assessing Officer. It was also submitted that no other particulars have so far been prescribed by the Act. It was also submitted that apart from this no other onus was to be discharged by the assessee in this regard. He also drew our attention to the income and expenditure account of the society and pointed out that the assessee has duly shown the donations as income and the expenditure as application of income. It was also emphasized that the donations were not from bogus entities as all the donor ....

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....owever, the Hon'ble Delhi High Court in the case of DIT (Exemptions) vs. Keshav Social & Charitable Trust (278 ITR 152) observed that the fact that complete list of donors was not filed or that the donors were not produced, does not necessarily lead to the inference that the assessee was trying to introduce un-accounted money by way of donation receipts. The Hon'ble Court further observed that as the assessee had disclosed the donation as income, the provisions of section 68 cannot be applied. 5.1 The Hyderabad Bench of the ITAT in the case of M/s. Vaishnavi Educational Society Versus The Deputy CIT Central Circle, Tirupati reported in 2014 (11) TMI 350 - ITAT HYDERABAD held that where the names of the donors along with their addresses w....