2026 (8) TMI 959

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....The brief facts of the case are that the appellant Trust, Anil Swathi Balaram Foundation filed its return of income for the A.Y.2017-18, declaring total income of Rs. 1,83,00,090/- after claiming exemption of Rs. 30,79,552/- u/s. 11 of the Income Tax Act, 1961 ("the Act"). During the Financial Year (F.Y.) 2016-17, relevant to Assessment Year (A.Y.) 2017-18, the appellant Trust had received anonymous donations of Rs. 1,90,00,000/- and the same has been treated as income and paid tax @30% u/s. 115BBC of the Act. The case was selected for scrutiny and the assessment has been completed u/s. 143(3) of the Act, where, the AO made addition of Rs. 1,93,92,158/-towards anonymous donations as unexplained/unproven cash credits u/s. 68 of the Act and c....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....onymous donations. Since the assessee failed to prove the anonymous donations, the AO has rightly assessed credits as unexplained cash credits and brought to tax u/s. 115BBE of the Act. The Ld.CIT(A) after considering relevant provisions has rightly sustained the additions made by the AO, therefore, the order of the Ld.CIT(A) should be upheld. 7. We have heard both the parties, perused the material on record and had gone through the orders of the authorities below. The appellant Trust is registered u/s. 12A of the Act, claiming exemption u/s. 11 of the Act in respect of its income derived from property held under the Trust. Provisions of section 115BBC deals with anonymous donations to be taxed in certain cases and as per the above provi....