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2012 (5) TMI 93 - ITAT DELHIRejection of the application for grant of approval under section 80G(5)(vi)– Held that:- Prior to amendment to section 80G(5)(vi)of the Act, there was a proviso which provide time limit for the approval - the approval granted on 13.8.2007 under section 80G(5)(vi) of the Act to the assessee was valid up to 31.3.2010 and the moment, the amendment to section 80G(5)(vi) has been effected, the approval available to the assessee under sec. 80G(5)(vi) of the Act would be deemed to have been intact and the assessee was not supposed to file the application for renewal - The learned Director of Income-tax (Exemption) indirectly by rejecting the application of the assessee on merit cannot withdraw the approval which is automatically renewed by virtue of Finance Act, 2009 – in favour of assessee.
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