SRI VIVEKANANDA EDUCATIONAL TRUST,CHENGAM vs. CIT(EXEMPTIONS) , CHENNAI

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ITA 850/CHNY/2024Status: DisposedITAT Chennai05 June 2024Bench: SHRI SS VISWANETHRA RAVI (Judicial Member), SHRI JAGADISH (Accountant Member)3 pages

In favour of the Revenue: the assessee's appeal was dismissed. From the AI summary of this appeal.

AI SummaryDismissed

What did the Tribunal hold?

The Tribunal noted that the CBDT had extended the time for filing Form 10AB applications. Consequently, the assessee was granted liberty to file a fresh application.

What were the facts?

The assessee's application for registration under Section 12AB, filed in Form 10AB, was rejected by the CIT(E) for failing to furnish required documents within the stipulated time. The assessee sought another opportunity to submit the documents.

What were the issues?

Whether the assessee should be granted another opportunity to file the required documents for registration under Section 12AB, considering the extension of time provided by the CBDT.

Which sections of the Income-tax Act were involved?

Section 12A,Section 12AB

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, ‘D’ BENCH: CHENNAI

Before: SHRI SS VISWANETHRA RAVI & SHRI JAGADISH

Hearing: 22.05.2024Pronounced: 05.06.2024

PER JAGADISH, A.M : Aforesaid appeal filed by the assessee is directed against the order of Learned Commissioner of Income Tax (Exemption), Chennai [hereinafter “CIT(E)”] dated 05.03.2024 rejecting the application filled in Form 10AB u/s. 12A(1)(ac)(iii) of the Income Tax Act, 1961 (hereinafter “the Act”) seeking registration u/s. 12AB of the Act.

2.

The Ld. CIT(E) has rejected the application in Form 10B as the assessee failed to furnish the relevant documents/details called for by ITA No.850/Chny/2024 :- 2 -:

1.

the Ld. CIT(E) within the date specified. The limitation of time for disposal of application was expiring by 31.10.2023.

3.

The assessee has filed appeal against the rejection of application, seeking one more opportunity to file the papers before Ld. CIT(E).

4.

The Central Board of Direct Taxes vide Circular No.7/24 dated 25.04.2024 has now extended the time for making application in Form 10AB under sub-section (iii) of clause (ac) of sub-section (1) of Section 12A till 30.06.2024. In view of this, the assessee is granted liberty to file fresh application in Form 10AB.

5.

In the result, appeal filed by the assessee is dismissed.

Order pronounced on 05th June, 2024.

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