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2010 (1) TMI 807 - AT - Income TaxDenial of approval under section 80G of the Act - findings of the learned CIT that such capital expenditure is not an application or utilization of funds cannot be accepted since without having the building of the school or bus, it is not possible for the society to run the school - assessee is enjoying the exemption under section 12AA and there is nothing on record to prove that the same has been withdrawn - Held that:- Commissioner of Income-tax is not justified in denying the approval under section 80G of the Act. The cases relied upon by the learned CIT are also not applicable to the present set of facts. Commissioner of Income-tax directed to grant approval under section 80G of the Act accordingly, appeal allowed.
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