TaxTMI 
TaxTMI 
2020 (12) TMI 499
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....onation made u/s 35AC of the Act to the tune of Rs. 50,00,000/-. Appellant submits that in view of the facts and circumstances of the case as well as in law, the said disallowance of claim by Learned Assessing Officer of Rs. 50,00,000/-which is confirmed by Learned CIT (Appeals) is bad in law and deserves to be deleted. 2. Learned Commissioner of Income Tax (Appeals) erred in confirming the action taken by Learned Assessing Officer in passing order u/s 143(3) as against section 153C r.w.s 143(3) of the Act as claimed by the Appellant. Appellant submits that Assessment Order of the Assessee ought to have be passed u/s 153C r.w.s. 143(3) of the Act. Appellant submits that in view of the facts and circumstances of the case as well as in la....
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....2016 by determining the total income at Rs. 64,53,259/-, as per the revised return. In the course of assessment assessing officer observed the assessee company is a registered Stock Broker on NSE and BSE and OTCE and also involved in the activities of finance. The assessee has credited income of Rs. 67,66,667/- which consists of Commission received of Rs. 100,000/- and income from other sources i.e., Profit of Sale of Office Premises of Rs. 64,89,636/-, Interest received of Rs. 22,500/-, Interest received on fixed deposit of Rs. 154,531/-. Out of which deduction u/s 80GGA i.e. deduction in respect of certain donations of Scientific Research or Rural Development of Rs. 50,00,000/- has been claimed and total income of Rs. 14,53,259/-has bee....
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.... * Shyam Sunder Co. Jewellers vs. ACIT 2019(5) TMI 22 (Kol-ITAT) * National Leather Cloth Manufacturing Co. vs. Indian Council of Agricultural Research 241 ITR482(Bom-HC) * Avis Life Care Pvt Ltd vs. DCIT ITAN0.989/JP/2018 7. Per contra learned departmental representative relied upon the orders of authorities below. 8. Upon careful consideration we find that in identical situations donation to the identical trust based upon same search has been held to be allowable by the ITAT in the above said decisions. We may refer to the decision in assessee's associate concern in the case of Jadstone Trading Pvt. Ltd. (supra) wherein by the order dated 12.6.2019 in ITA No.7143/Mum/2018 & ITA No. 6628/Mum/2018, the ITAT had held as under:- "Brie....