INCOME TAX ACT, 1961

Section 80G(5)

Deduction under section 80G(5) - Renewal of approval under section 80G(5) - Rejection of application -

Assessee-society registered under section 12AA filed application for renewal of approval under section 80G(5). CIT(E) rejected approval in the absence of income and expenditure account for the financial year 2017-18 and that charitable nature of activities of the trust or genuineness of its activities was not established by assessee society. Held: In any event, it was the case of the assessee that he had filed the financial statement for the financial year 2017-18 also during the course of proceedings before CIT(E). Moreover, it was undisputed fact that the assessee society continues to enjoy the registration under section 12AA, therefore, it cannot be said that the objects of the assessee-society were not charitable in nature. Since the order of CIT(E) was premised on the wrong assumption that the financial statements for the financial year 2017-18 were not filed, matter was remanded to CIT(E) examine the financial statements afresh and then come to conclusion as to the genuineness or otherwise of the activities of the assessee-society.

REFERRED :

FAVOUR : Matter remanded

A.Y. :

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