SAMYATA FOUNDATION,BANGALORE vs. CIT (EXEMPTIONS) BANGALORE, BANGALORE

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ITA 657/BANG/2024Status: DisposedITAT Bangalore16 May 2024AY 2025-26Bench: SHRI CHANDRA POOJARI (Accountant Member), SHRI KESHAV DUBEY (Judicial Member)1 pages
AI SummaryPartly Allowed

What did the Tribunal hold?

The Tribunal noted that a CBDT circular provided for condonation of delay in such cases. Therefore, the Tribunal remitted the issue back to the CIT (Exemptions) for fresh consideration in accordance with the law.

What were the facts?

The assessee filed an appeal against the order of the DIT (Exemptions) which rejected their application for approval under Section 12AB of the Income Tax Act, 1961, due to a delay in filing. The assessee's representative argued that the delay was condoned by a CBDT circular.

What were the issues?

Whether the delay in filing the application for approval under Section 12AB of the Income Tax Act, 1961, could be condoned based on the CBDT circular.

Which sections of the Income-tax Act were involved?

Section 12AB

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, “C’’ BENCH: BANGALORE

Before: SHRI CHANDRA POOJARI & SHRI KESHAV DUBEY

For Appellant: Shri Ravishankar, A.R
For Respondent: Ms. Neera Malhotra, D.R
Hearing: 16.05.2024Pronounced: 16.05.2024

PER CHANDRA POOJARI, ACCOUNTANT MEMBER:

1.

This appeal by assessee is directed against order of DIT (Exemptions) dated 3.4.2024, wherein he rejected the application filed by the assessee for the approval u/s 12AB of the Income Tax Act, 1961 (in short “The Act”).

2.

In this case, the CIT(Exemptions) rejected the application filed by the assessee for approval u/s 12AB of the Act vide order dated 3.4.2024 due to filing the application form No.10AB by delay before him.

3.

We have heard the rival submissions and perused the materials available on record. The ld. A.R. submitted that there was a delay in filing the application for approval u/s 12AB of the Act. However, that delay was condoned by CBDT vide Circular No.7/2024 dated 25.4.2024, wherein specifically observed as follows:

M/s. Balaji Constructions, Bangalore Page 2 of 2 “4.1 Further, in cases where any trust, institution or fund has already made an application in Form No.10AB, and where the Principal Commissioner or Commissioner has passed an order rejecting such application, on or before the issuance of this Circular, solely on account of the fact that the application was furnished after the due date or that the application has been furnished under the wrong section code, it may furnish a fresh application in Form No.10AB within the extended time provided in paragraph 3(ii) i.e. 30.06.2024.”

3.1 In view of this, we remit the entire issue in dispute to the file of ld. CIT (Exemptions) for fresh consideration to decide the same in accordance with law. 4. In the result, appeal of the assessee is partly allowed for statistical purposes. Order pronounced in the open court on 16th May, 2024

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