CHEMSTAR INTERNATIONAL,MUMBAI vs. DCIT- 24(1), MUMBAI

ITA 3799/MUM/2023Status: DisposedITAT Mumbai05 July 2024AY 2014-15Bench: SHRI B.R. BASKARAN (Accountant Member), SHRI SUNIL KUMAR SINGH ( (Judicial Member)1 pages
AI SummaryAllowed

What did the Tribunal hold?

The Tribunal held that the subsequent withdrawal of recognition of the payee institutions does not bar the assessee from claiming deduction for donations made when the institutions were approved. The assessee's claim for deduction under Section 35(1)(ii) was allowed.

What were the facts?

The assessee claimed weighted deduction under Section 35(1)(ii) for donations made to two research institutions. The Assessing Officer disallowed the deduction based on an Investigation Wing report indicating the institutions provided bogus donation certificates.

What were the issues?

Whether the assessee is entitled to weighted deduction under Section 35(1)(ii) when the payee institution's recognition was subsequently withdrawn based on an investigation report.

Which sections of the Income-tax Act were involved?

Section 35(1)(ii)

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Income Tax Appellate Tribunal, Mumbai “C” Bench, Mumbai.

For Appellant: Ms. Ridhisha Jain
For Respondent: Shri H. M. Bhatt (Sr. DR)
Hearing: 19.06.2024

PER B.R.BASKARAN (AM) :-

Both appeals filed by the assessee are directed against the orders passed by the Ld CIT(A), NFAC, Delhi and they relate to the assessment years 2014-15 & 2015-16. 2. In both the appeals, the assessee is aggrieved against the decision of the learned CIT(A) in confirming the disallowance of deduction claimed u/s 35(1)(ii) of the Income Tax Act, 1961 (hereinafter “the Act”).

3.

The assessee is a partnership firm and is engaged in the business of export of dyes and dye intermediates, chemicals and allied industrial goods. In the financial year relevant to the assessment year 2015-16, the assessee had given donation of Rs.55,00,000/-

The order continues below.

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