IAC RESEARCH FOUNDATION,KOLKATA vs. CIT(EXEMPTION), KOLKATA

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ITA 322/KOL/2024Status: DisposedITAT Kolkata14 May 2024Bench: SHRI RAJESH KUMAR, HON’BLE (Accountant Member), SHRI SONJOY SARMA, HON’BLE (Judicial 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 allowed the assessee's prayer to withdraw the appeal as the matter became infructuous due to the subsequent CBDT circular. The appeal was dismissed as withdrawn.

What were the facts?

The assessee, a trust, applied for registration under Section 80G(5)(iii) of the Income Tax Act. The application was rejected because it was filed after the extended due date. Subsequently, the CBDT issued a circular extending the due date and allowing fresh applications in such cases.

What were the issues?

Whether the rejection of an application for registration under Section 80G(5)(iii) due to late filing can be revisited in light of a subsequent CBDT circular extending the due date.

Which sections of the Income-tax Act were involved?

Section 80G(5)(iii)

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, KOLKATA ‘C’ BENCH, KOLKATA

For Appellant: Smt. Sharin Nessa, AR
For Respondent: Shri Manish Kanojia, CIT, DR
Hearing: 09.05.2024Pronounced: 14.05.2024

O R D E R

PER SONJOY SARMA: JM

1.

The present appeal filed by the assessee is directed against the order passed by ld. Commissioner of Income-tax (Exemption), Kolkata [in short ld. CIT (Exemption)’] in relation to denying registration applied u/s 80G(5)(iii) of the Income Tax Act, 1961 (in brevity the ‘Act’) dated 11.02.2024.

2.

At the outset, ld. Counsel for the assessee stated before the bench that the assessee is a trust and filed application for approval of trust u/s 80G(5)(iii) of the Act electronically on 22.08.2023 in Form 10AB under Rule 17A of the Income Tax Rules, 1962. However, the extended due date for filing of such application in Form 10AB was extended upto 30.09.2022 as per CBDT Circular No. 8/22 dated 31.03.2022. As the present assessee could not file such application within the extended due date as per CBDT Circular, the claim of the assessee was rejected.

2 IAC Research Foundation 3. Aggrieved by the above order assessee is in appeal before this Tribunal. However, in the intervening time CBDT has recently issued a Circular bearing No. 7/24 by which extended the benefit of due date for filing Form 10A/10AB upto 03.06.2024 by stating in para 4.1 of the said Circular as under:

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.

4.

In view of the above Circular issued by CBDT, ld. AR prayed before the bench to allow her to withdraw the appeal since the matter became infructuous.

5.

On the other hand, ld. DR was fair enough not to object to such prayer made by ld. AR before this bench.

6.

After hearing the submission of both the parties and perusing the material available on record, we allow the prayer made by the assessee to withdraw the instant appeals.

7.

In the result the appeal of the assessee is dismissed as withdrawn.

Order pronounced in the open court on14.05.2024.

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