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2015 (10) TMI 1377 - AT - Income TaxRenewal of approval granted u/s 80G(5) rejected - assessee is registered as a charitable trust u/s 12A of the Act since 1976 which is continuing till date - Held that:- Plain reading of section 80G(5)would make it clear that an institution or fund would be eligible for approval firstly if it is established in India for charitable purpose and secondly if it fulfils the conditions prescribed under clause (i) to (v) of section 80G(5). So far as the first condition i.e., 'established in India for a charitable purposes' is concerned, admittedly, the assessee is a trust established in India for charitable purpose is evident from the fact that it is registered u/s 12A of the Act but, which continues till date. So far as fulfilment of conditions prescribed under clauses (i) to (v) of section 80G(5) is concerned, there is neither any allegation nor any material brought on record to show that assessee has not fulfilled those conditions. That being the case, assessee is entitled for approval u/s 80G(5) of the Act. The reasons basing on which the DIT (E) has denied approval to the assessee are extraneous and beyond the scope of statutory provisions as contained u/s 80G(5) of the Act. Another important aspect which merits consideration is the assessee was granted approval u/s 80G(5)(vi) till 31-3-2003. Therefore, when there is no change in situation which existed when the renewal was granted to the assessee in 2000, there is no justifiable reason to deny approval to the assessee u/s 80G(5). Inclined to accept assessee's contention for grant of approval u/s 80G(5). - Decided in favour of assessee.
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