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| The Tax Publishers2020 TaxPub(DT) 5381 (Mum-Trib) INCOME TAX ACT, 1961
Section 35AC
Disallowance of claim of donation made by assessee under section 35AC was required to be deleted as it was found that in identical situations donation to the identical trust based upon same search had been held to be allowable by Tribunal in the assessee's associate concern.
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Business deduction under section 35AC - Expenditure on eligible projects or scheme - Disallowance of claim of deduction -
AO made disallowance of claim of donation made by assessee under section 35AC on the ground of addition on survey by assessee company director for having received back in cash the donation given by the assessee company to Charitable Trust. Held: Upon careful consideration it was found that in identical situations donation to the identical trust based upon same search had been held to be allowable by the ITAT in the assessee's associate concern in the case of Jadstone Trading Pvt. Ltd. [I.T.A. No. 7143/Mum/2018 And I.T.A. No. 6628/Mum/2018, dt. 12-6-2019]. Hence, the order passed was set aside and Revenue was directed that the impugned payment should not be disallowed.
Followed:Jadstone Trading Pvt. Ltd. [ITA. No. 7143/Mum/2018 & ITA. No. 6628/Mum/2018, dt. 12-6-2019].
REFERRED :
FAVOUR : In assessee's favour.
A.Y. : 2013-14
IN THE ITAT, MUMBAI BENCH
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