The assessee has fulfilled all the conditions laid down in section 271AAB(1)(a), therefore penalty at 10% is leviable. Assessee being an educational society received anonymous donations, is not necessary to mention identity/address and other particulars in books. (AY. 2013-14)
ACIT v. G.S.L. Education Society (2020) 204 TTJ 17 (UO) (Vishakha)(Trib.)
S. 271AAB : Penalty-Search initiated on or after 1st day of July 2012-undisclosed income-Filed income tax return as per specified date-Penalty leviable only 10 %-Anonymous donations-derived income-purpose for which it is utilized-No need to mention address of donors. [S. 115BBC]