No addition can be made on Sponsorship Contributions received from Friends and Relatives: ITAT [Read Order]

No addition can be made - Sponsorship Contributions received from Friends and Relatives - ITAT - TAXSCAN

The Mumbai bench of Income Tax Appellate Tribunal (ITAT) has recently held that no addition could be made on sponsorship contributions received from friends and relatives. Assessee Bhagyashree Manohar Sawant is engaged in mountaineering summit and received sponsorship contributions from various organizations, friends and relatives in the financial year  2010-11. Assessee has not filed the…

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