AARTI SAIBABA RACHANAKAR, SHRI MADHAVRAO ADKAR PRATISTHAN,PUNE vs. CIT (EXEMPTION), PUNE, PUNE

This is an appeal filed by the Assessee against the order of Ld. Commissioner of Income Tax (Exemptions) dated 20/03/2024 rejecting Assessee’s Application u/s 80 G of the Income Tax Act.

One of the reasons cited by the CIT E is that the assessee has surrendered its provisional registration dated 24/09/2021 on 23/09/2023. Thereafter it did not obtain new provisional registration. The provisions of clause (iii) of first proviso to section 80G(5) of the Act are applicable to a trust/institution which is provisionally approved under section 80G(5)(vi) of the Act. Due to voluntary surrender of provisional approval, it did not have valid registration while applying for renewal u/s 80G(5)(iii). This vitiated the pre-condition of renewal process u/s 80G. Thus the Ld. CIT rejected our application u/s 80G(5).

The assessee pleaded that surrender of provisional approval was an inadvertent act.

However, it is informed by the assessee that it is exploring other / additional remedies available to it under the requisite provisions of the income tax law as applicable with respect to approval. In meantime, at end of June 2024, it has filed another application for approval u/s 80G(5)(iii) before the CIT E.

It is also assessing other legal remedies available at its disposal and will revisit the governing provisions.

In view of the foregoing submission, kindly allow the asssessee trust to withdraw the captioned appeal filed before your honour with immediate effect. Thanking You, Kindly acknowledge, For Aarti Saibaba Rachanakar Shri Madhavrao Adkar Pratisthan CA Abhay Avachat, AR Pune, October 3, 2024 Appellant” Unquote 3) Ld. DR had not objected for the withdrawal of appeal. 4) In these facts and circumstances of the case, we allow assessee to withdraw the appeal.