TaxTMI 
TaxTMI 
2021 (7) TMI 903
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.... has erred in ignoring the fact that in this case, transaction of 'foreign contribution' was not transacted as per the directive of the M/o Home Affairs dated 02.01.2014 issued to the assessee under FCRA rules. 2) On the facts and in the circumstances of the case and in law, Ld. CIT(A) has erred in not appreciating the fact that foreign contribution was not between the Govt, of India and the Govt, of France, but it was between the Govt, of France and the assessee. 3) On the facts and in the circumstances of the case and in law, Ld. CIT(A) has erred in not appreciating the fact that in the case of the assessee a compulsory audit by the C & AG was not required. 4) On the facts and in circumstances of the case and in....
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....me and Expenditure Account that the assessee has claimed expenses of 17,71,551 euros i.e. Rs. 12,32,00,388/- incurred in foreign currency outside India and the Assessing Officer found from the documents submitted during the scrutiny assessment that the assessee was not notified by the CBDT u/s 11(1)(c) of the Act for the A.Y under consideration. The Assessing Officer, accordingly, made disallowance of Rs. 12.32 crores. 6. Proceeding further, the Assessing Officer noticed that the assessee has received foreign contribution from the Government of France amounting to. 18,23,738.51 euros i.e Rs. 12,68,29,706/-. The assessee claimed that the transaction is covered under Clause 51 of FCRA, 2010. This claim of the assessee was dismissed by the ....
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....43 of 1961), the Central Board of Direct Taxes hereby directs that the income derived from property held under the trust known as "Indo-French Centre for Promotion of Advanced Research", New Delhi shall not be included in the total income of the person in receipt of such income as is applied outside India for charitable purpose which tends to promote international welfare in which India is interested to the extent as provided below: S.No Assessment Years Expenditure incurred outside India for the purpose of International welfare (in Rs.) 1) 2014-15 12,32,00,428 2) 2015-16 12,80,46,948 Total 25,12,47,376 This order shall have effect for the period covered by Assessment Years 2014-15 to 2015....
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....able in the case of the assessee vide clause-51 and the same has been clarified by the Government of India, Ministry of Home Affairs in the letter dated 2/1/2014 and as such the AO is not justified to make the addition and accordingly the same is deleted." 4.2.2 The Hon'ble IT AT in appellant's own case for assessment year 2010-11 (supra) while deciding '.he appeal of revenue the said issue held as under: "9 A0 made disallowance of Rs. 9,45,28,000/- on the ground that since the assessee society has received foreign contribution from Government of France within the meaning of section 2(1)(j) of FCRA without filing return qua these contributions in FC-3 to Ministry of Home Affairs as per FCRA. 10. Undisp....
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.... Floor, India Habitat Centre, Lodhi Road, New Delhi - 110003. Subject: Permission under Foreign (Regulation) Act, 2010 Sir, I am directed to refer to your letter dated 18 Sept 2013 on the subject mentioned above and to state that Foreign Contribution (Regulation) Act, 2010 does not attract in respect of the following transactions a) Transaction between the Govt, of India and the Govt, of any foreign country or territory - Clause 51 of FCRA 2010. b) Bodies constituted or established by or under a Central Act or a State Act requiring compulsory auditing by C&AG Notification No.S.0.1492(E) dated 1 July, 2011. In view of above, it is required to examine the subject proposal. If the ....