9911796707
TMI Blog2011 (2) TMI 1199X X X X Extracts X X X X X X X X Extracts X X X X ..... 010 passed by the Income-tax Appellate Tribunal, Lucknow Bench, "B", Lucknow, by means of which, the Tribunal has remanded the matter regarding the renewal of the exemption certificate issued under section 80-G of the Income-tax Act, 1961 for being decided afresh after setting aside the order passed by the Commissioner, Income-tax-I, Lucknow, by means of which, the application for renewal was rejected. The petitioner though initially made an effort to point out the illegality in the order passed by the Income-tax Appellate Tribunal in remanding the matter and saying that the Tribunal ought to have decided the issue itself, but later on, during the course of arguments, in view of the Circular dated 3.6.2010 issued by the Central Boar ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n perpetuity unless specifically withdrawn. However, in case of approvals expiring before 1st October, 2009, these will have to be renewed and once renewed these shall continue to be valid in perpetuity, unless specifically withdrawn." Since proviso to Clause (vi) of sub-section (5) of section 80-G has been omitted, there remains no requirement to seek renewal in every assessment year. This stands clarified in Clause 29.7 of the Circular aforesaid. It being admitted that the exemption was expiring in the instant case after 1.10.09, the deeming provision of perpetuity clause stood attracted. That being so, the exemption granted under section 80-G would remain operative unless withdrawn. It appears that the petitioner ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cable w.e.f. 1.10.09 and accordingly existing approvals, which were to expire on or after 1.10.09 will be deemed to have been extended in perpetuity unless specifically withdrawn. This itself means that the petitioner's approval/exemption granted under section 80-G, which was to expire on 31.3.2010, would be deemed to have been extended in perpetuity unless specifically withdrawn. Once the exemption granted stands extended in perpetuity by operation of law, merely moving an application by the petitioner would not divest it of the aforesaid right, which has accrued to it, in view of the Circular aforesaid and the amendment made in the Act. In these circumstances, there is no requirement of maintaining the direction issued by ..... X X X X Extracts X X X X X X X X Extracts X X X X
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