No move by Income Tax Department to use Digi Yatra data to track tax evaders
Income Tax Department (CBDT) has clarified that some news articles have appeared stating that Digiyatra data will be used to crack down on tax evaders. In this connection it is clarified that as on date there is no such move by the Income Tax Department.
PIB Fast check has also reported that such news is fake and the Income Tax Department has not made any decision to use Digi Yatra data.
- Receipts mentioning that it was towards corpus, donation assumed to be for corpus of trust
- Credit in partner’s capital account for book entry adjustments can not be added u/s 68
- Non-compliance of summons issued u/s 131 no ground to make addition u/s 68
- Assessee not obliged to demonstrate actual utilization of donation u/s 35(1)(ii)
- For Registration u/s 12AB, phrase “genuineness of activities” is interpreted liberally
