COIMBATORE YARN MERCHANTS AND BROKERS ASOCIATION,COIMBATORE vs. CIT, EXEMPTIONS, CHENNAI

Aggrieved by rejection of application filed in Form No.10AB on 10.05.2023 for seeking approval under clause (iii) of first proviso to sub- section (5) of Sec.80G vide impugned order dated 10.11.2023, the assessee is in further appeal before us.

The registry has noted delay of 10 days in the appeal, the condonation of which has been sought by Ld.AR. Considering the period of delay, we condone the delay and admit the appeal for adjudication. The Ld. AR has pleaded for another opportunity of heating. The Ld. AR has also referred to various decisions of this Tribunal holding the field in assessee’s favor. The Ld. Sr. DR submitted that the assessee did not file requisite details as called for by Ld. CIT(E). 3. Upon perusal of para-6 of impugned order, it could be seen that the assessee failed to fail to any reply / explanation to the show cause notice issued by Ld. CIT(E). The Ld. CIT(E) rejected the application for non- compliance. Aggrieved, the assessee is in further appeal before us. 4. In view of the fact that the assessee has not furnished the requisite details and also considering the various decisions of Tribunal holding the field, we deem it fit to grant another opportunity of hearing to the assessee. Accordingly, the impugned order is set aside and the issue of registration stand restored back to the file of Ld. CIT(E) for de novo adjudication after affording opportunity of hearing to the assessee. The assessee is directed to substantiate its application. 5. The appeal stand allowed for statistical purposes. Order pronounced on 16th April, 2024.