Mayor Foundation v CIT (2024)469 ITR 562 (P&H)(HC)

S. 68 : Cash credits-Not explained the source-Addition is justified.[S. 260A]

Held that an  educational institution, could not produce sufficient material to dispel the suspicion which had been raised about the donations received from companies which were not even based geographically close to the assessee and the reason to grant the donation was never properly explained. The addition is justified.(AY.2014-15)

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