FULCRUM FOUNDATION ,MUMBAI vs. CIT(EXEMPTIONS), MUMBAI

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ITA 1147/MUM/2025Status: DisposedITAT Mumbai11 June 2025Bench: SHRI SAKTIJIT DEY, HON'BLE (Vice President), SHRI NARENDRA KUMAR BILLAIYA, HON'BLE ACCOUNTANT MEMBER Ι.Τ.Α. No. 1147/Mum/2025 Fulcrum Foundation 405, VIP Plaza Off New Link Road Andheri West Mumbai - 400053 [PAN: AACCF3769N] अपीलार्थी/ (Appellant) Vs Commissioner of Income Tax (Exemptions), Mumbai प्रत्यर्थी/ (Respondent) Assessee by: Shri Jitendra Singh, A/R Revenue by: Shri Vikas K Suryawanshi, CIT, D/R सुनवाई की तारीख/Date of Hearing घोषणा की तारीख /Date of Pronouncement: : 02/06/2025 111 pages
AI SummaryPartly Allowed

What did the Tribunal hold?

The Tribunal noted that the objectionable clause had been removed by the assessee. Therefore, the Tribunal directed the CIT(Exemptions) to re-examine the amended memorandum of association and decide the issue afresh after giving the assessee a reasonable opportunity of being heard.

What were the facts?

The assessee's application for approval under Section 80G of the Income Tax Act was rejected by the CIT(Exemptions) due to an objectionable clause in its memorandum of association, which led the CIT to believe the assessee utilized funds outside India. The assessee then submitted a certificate confirming the alteration of this clause.

What were the issues?

Whether the rejection of approval under Section 80G was justified based on an objectionable clause in the Memorandum of Association, which was subsequently amended?

Which sections of the Income-tax Act were involved?

Section 80G,Section 13(1)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “F” BENCH, MUMBAI

Before: SHRI SAKTIJIT DEY, HON’BLE & SHRI NARENDRA KUMAR BILLAIYA, HON’BLE

For Appellant: Shri Jitendra Singh, A/R
Hearing: 02/06/2025Pronounced: 11/06/2025

O R D E R

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