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2016 (3) TMI 595 - HC - Income TaxEligibility for approval under Section 80 G(5)(vi) - Whether approval under Section 80 G(5)(vi) can be granted before the end of financial year, when the trust/institution had not appended the accounts for the accounting year? - Held that:- The assessee commenced activity by providing notebooks to school children and publication of development of the region and in order to support the activity was only by way of flow of finance, which can happen on receipt of donations. Recognition under Section 80G of the ‘Act’, as observed by the Tribunal will be one of the factors to induce donors to donate funds to trusts, to encourage such kind of activity by the trust for the development of the society as well as the Nation. For the said reasons the ‘Tribunal’ allowed the appeal, set aside the order of the CIT, Gulbarga and directed grant of recognition under Section 80G(5)(vi) read with rule 11AA(5) of the ‘Act’. - Decided against revenue
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