TMI Blog2022 (11) TMI 619X X X X Extracts X X X X X X X X Extracts X X X X ..... mid of the year. It means that the assessee is entitled for approval w.e.f. 01.04.2021 and not from 23.09.2021. The provisions of the acts are clear and there is no ambiguity about it. Hence, we direct the PCIT to carry out the required amendment. We direct the PCIT(Exemption) accordingly. Appeal filed by the assessee is allowed. - ITA No. 420/CHNY/2021 - - - Dated:- 19-10-2022 - SHRI MAHAVIR SINGH, VICE PRESIDENT AND SHRI MANOJ KUMAR AGGARWAL, ACCOUNTANT MEMBER Appellant by : Shri K. Ravi, Advocate Respondent by : Shri M. Rajan, CIT ORDER PER MAHAVIR SINGH, VICE PRESIDENT: This appeal by the assessee is arising out of the of the order passed by PCIT (Exemption), Chennai u/s.80G(5)(vi) of the Income Tax Act, 1 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nally approved was 23.09.2021 to assessment year 2024-25. The relevant order given by PCIT in clause 8 9 of Form 10AC reads as under:- 8 Assessment year or years for which the trust or institution is provisionally approved From 23-09-2021 to AY 2024-25 9 Order for Provisional approval: a. After considering the application of the applicant and the material available on record, the applicant is hereby granted provisional approval with effect from the assessment year mentioned at serial no 8 above subject to the conditions mentioned in row number 10. b. The t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to expire, at least six months prior to expiry of the said period; (iii) where the institution or fund has been provisionally approved, at least six months prior to expiry of the period of the provisional approval or within six months of commencement of its activities, whichever is earlier; (iv) in any other case, at least one month prior to commencement of the previous year relevant to the assessment year from which the said approval is sought: 4.1 The ld.counsel then took us through the second proviso to section 80G(5), which prescribes the procedure to be followed by the PCIT(Exemption) on receipt of an application made under first proviso to section 80G(5) of the Act. The relevant procedure is prescribed in the fourth ..... X X X X Extracts X X X X X X X X Extracts X X X X
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