Tuesday, 28 July 2015

Offerings received in donation boxes of temple can't be taxed as black money under Sec. 115BBC

IT: Section 115BBC is not applicable to institutions like that of assessee trust being a temple or shrine; provisions of this section are meant to check inflow of unaccounted/black money into system with a modus operandi to make out as a part of accounts of institutions like university, medical institutions where problem relating to receipt of capitation fees, etc. is generally highlighted.

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