Held that the Donation supported by certificate of recognition of Director General of exemptions and bank statements hence the denial of exemption is not proper. Retracted statements not incriminating material hence cannot be used to reopen concluded assessment. Gratuity. Provision for gratuity or leave encashment constitutes ascertained liability hence allowable as deduction. (AY.2012-13, 2014-15 to 2018-19)
Dy. CIT v. Podar Education Trusts (2023)102 ITR 270 (Mum) (Trib)
S. 10 (23C): Educational institution-Bogus donation-Donation supported by certificate of recognition of Director General of exemptions and bank statements-Denial of exemption is not proper-Retracted statements not incriminating material-Cannot be used to reopen concluded assessment-Gratuity-Leave encashment-Provision for gratuity or leave encashment-Constitutes ascertained liability-Allowable as deduction. [S. 12AA, 80G, 143(3) 153A]