MAYASHANKAR CHARITABLE TRUST,NAGPUR vs. COMMISSIONER OF INCOME TAX (EXEMPTION), PUNE

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ITA 102/NAG/2023Status: DisposedITAT Nagpur07 May 2024Bench: SHRI V. DURGA RAO (Judicial Member), SHRI K.M. ROY (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 allowed the assessee's request to withdraw the appeal due to the conversion of the trust into a company. The assessee was granted liberty to file a fresh appeal as per law.

What were the facts?

The assessee, Mayashankar Charitable Trust, appealed against the rejection of its application for approval under Section 80G. During the pendency of the appeal, the trust converted into a company under Section 8 of the Companies Act.

What were the issues?

Whether the appeal should be dismissed as withdrawn due to the change in the legal status of the assessee from a trust to a company.

Which sections of the Income-tax Act were involved?

Section 80G

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, NAGPUR BENCH, NAGPUR

Before: SHRI V. DURGA RAO & SHRI K.M. ROY

For Appellant: Shri Kapil Hirani
For Respondent: Shri Kailash C. Kanojiya

Date of Hearing – 06/05/2024 Date of Order – 07/05/2024

O R D E R PER V. DURGA RAO, J.M.

The present appeal has been filed by the assessee challenging the impugned order dated 29/03/2023, passed by the learned Commissioner of Income Tax (Appeals), National Faceless Appeal Centre, Delhi, [“the learned CIT(A)”].

2.

The assessee has raised following grounds of appeal:-

“1. On the facts and circumstances of the case and in law, the learned CIT (Exemptions) - Pune grossly erred in rejecting the application submitted by the Appellant for grant of approval U/s 80G of the I.T Act, 1961 which is illegal, invalid and against the principles of natural justice.

Mayashankar Charitable Trust ITA no.102/Nag./2023

2. On the facts and circumstances of the case and in law, the learned CIT (Exemptions) - Pune ought to have granted approval under section 80 G to the Appellant as the Appellant has duly complied with all the conditions as prescribed under law for grant of approval under section 80G of the Act.

3.

The Appellant craves leave to add, amend, alter, vary and / or withdraw any or all the above grounds of Appeal.”

3. When this case was taken up for hearing, the learned Counsel for the assessee submitted before us that by way of a letter, the appellant company has applied for conversion of trust into section 8 of Companies Act and as such, the “Trust” is converted into a “Company” on 02/02/2024, and requested that he may be permitted to withdraw the appeal and also prayed that the appellant company be granted liberty to file appeal afresh.

4.

The learned Departmental Representative not raised any objection to the submissions of the learned Counsel for the assessee.

5.

We have heard both sides and perused the material available on record. Considering the request of the learned Counsel for the assessee, we dismiss the appeal filed by the assessee as withdrawn. However, it is open to the assessee to file a fresh appeal as per law.

6.

In the result, appeal filed by the assessee is dismissed. Order prondounced in the open Court on 07/05/2024.

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