M/S.ST.PAULS CONVENT ENGLISH SCHOOL,TRICHUR vs. THE PR.CIT, (EXEMPTIONS),KOCHI, KOCHI

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ITA 597/COCH/2017Status: DisposedITAT Cochin14 July 2023AY 2016-17Bench: Shri Sanjay Arora (Accountant Member), Shri Manomohan Das (Judicial Member)2 pages
AI SummaryDismissed

What did the Tribunal hold?

The Tribunal permitted the assessee to withdraw its appeal. The reason for withdrawal was the amendment to the law which prohibits entities from holding both section 12AA registration and section 10(23C)(vi) approval simultaneously.

What were the facts?

The assessee, St. Pauls Convent English School, filed an appeal against an order related to section 10(23C)(vi) of the Income-tax Act. The assessee wished to withdraw the appeal due to a change in law introduced by the Finance Act, 2020.

What were the issues?

Whether the assessee should be allowed to withdraw its appeal due to a change in law impacting its eligibility for tax exemption.

Which sections of the Income-tax Act were involved?

Section 10(23C)(vi),Section 12AA

AI-generated summary — verify with the full judgment below

Income Tax Appellate Tribunal, COCHIN BENCH, COCHIN

Before: Shri Sanjay Arora, AM &Shri Manomohan Das, JM

For Appellant: Shri P.J. Johney, CA
For Respondent: Shri Sajit Kumar Das, CIT- DR
Hearing: 14.07.2023

O R D E R

Per Sanjay Arora, AM:

1.

This is an Appeal by the Assessee, directed against the order under section 10(23C)(vi)of the Income-tax Act, 1961 (‘the Act’) dated 29.08.2022 by the Principal Commissioner of Income Tax (Exemptions), Kochi [PCIT] for assessment year (AY) 2016-2017.

2.

The learned counsel for the assessee, Shri P.J. Johney, appears and submits that the assesse wishes to withdraw it’s appeal. And, accordingly, requests for permission for the same. The reason, he explains, is on account of change in law by Finance Act, 2020 w.e.f. 01.04.2021 proscribing any entity from holding simultaneously registration under section 12AA as well as approval under section 10(23C)(vi) of the Act. The approval once allowed is valid for a period of five years, only whereupon renewal is to be sought. The ld.CIT-D.R. raises no objection to the assessee’s said request.

(AY 2016-2017) St. Pauls Convent English School v. ITO 3. We have, in view of the foregoing, no hesitation in permitting the assessee to withdraw the appeal. Ordered accordingly.

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