DCIT Cochin v Chinmay Mission Educational and Charitable Trust ITA No. 338/Coch/2016

Assessee had received a donation for building development fund and claimed it as exempt under section 11(1)(d) of the Income Tax Act. The Assessing Officer (AO) disallowed this exemption, but the Income Tax Appellate Tribunal (ITAT) Cochin reversed the decision, asserting that as long as the specific details of the contribution to the building fund are maintained and receipts are issued, the benefit of the deduction under section 11(1)(d) cannot be denied for such contribution.