| |
| The Tax Publishers2020 TaxPub(DT) 1894 (Bang-Trib) INCOME TAX ACT, 1961
Section 80G
Assessee has been granted registration under section 12AA of the Act, and there was nothing on record brought out by authorities below, regarding violation of objects of Trust then recognition under section 80G cannot be denied on ground the trust was generating surplus year after year, since CIT(E) had not examined the application of assessee in terms of section 80 G (5), therefore, matter was remanded back to CIT(E) for grant of approval under section 80G (5)(vi).
|
Charitable Trust - Appeal under section 80G - Trust already registered under section 12/12AA - Trust generating surplus year
Assessee-trust established to run either with the college and also to carry out charitable activities under relief of poor. It was submitted that, assessee obtained registration under section 12AA. Assessee applied for registration under section 80G, which was rejected by CIT(E). CIT(E) after considering the details filed, rejected assessee's application seeking grant of recognition under section 80G on the ground that trust was generating surplus year after year and majority of receipts were by way of tuition fee and others. Held: Assessee was granted registration under section 12AA and that there was nothing on record brought out by authorities below, or CIT regarding violation of objects of Trust. Assessee was holding valid registration under section 12AA as on date of order, which conversely means that CIT(E) was satisfied with objects of assessee in not disputing the registration under section 12AA. Since CIT(E) had not examined the application of assessee in terms of section 80G(5), therefore, matter was remanded back to CIT(E) for grant of approval under section 80G(5)(vi).
REFERRED :
FAVOUR : Matter remanded
A.Y. :
IN THE ITAT, BANGALORE BENCH
 SUBSCRIBE FOR FULL CONTENT
OR Try Reload the Page |