TaxTMI Login
AI OCR ✕Convert scanned orders, printed notices, PDFs and images into clean, searchable, editable text within seconds. Starting at 2 Credits/page
Try Now →Just a moment...
AI OCR ✕Convert scanned orders, printed notices, PDFs and images into clean, searchable, editable text within seconds. Starting at 2 Credits/page
Try Now →
Press 'Enter' to add multiple search terms. Rules for Better Search
Use comma for multiple locations.
---------------- For section wise search only -----------------
Accuracy Level ~ 90%
of 
Press 'Enter' after typing page number.
of Press 'Enter' after typing page number.
No Folders have been created
Are you sure you want to delete "My most important" ?
NOTE:
of Press 'Enter' after typing page number.
of Press 'Enter' after typing page number.
All Case Laws
of Press 'Enter' after typing page number.
of Press 'Enter' after typing page number.
All Case Laws
Note
Bookmark
Share
Don't have an account? Register Here
of Press 'Enter' after typing page number.
Issues: Whether approval under Section 80G(5) of the Income-tax Act could be granted or renewed merely because the assessee had exemption under Section 10(23C) of the Income-tax Act, and whether failure to maintain regular accounts of receipts and expenditure disentitled the assessee to such approval.
Analysis: Section 10(23C) and Section 80G(5) operate in different fields and impose different conditions. Eligibility under Section 10(23C), including the requirement of separate books of account for incidental business, does not satisfy the independent condition under Section 80G(5) that the institution must maintain regular accounts of receipts and expenditure. The record showed that cash found during search was not reflected in the books and was admitted to belong to the assessee, which established non-maintenance of regular accounts. The Commissioner's rejection on that ground was therefore justified, and the Tribunal erred in equating the two provisions.
Conclusion: Renewal of approval under Section 80G(5) could not be granted on the basis of Section 10(23C) exemption alone, and the assessee's failure to maintain regular accounts disentitled it to the benefit.
Final Conclusion: The statutory conditions for approval under Section 80G must be independently and strictly satisfied, and non-compliance with the accounts requirement is fatal to the claim for renewal.
Ratio Decidendi: Approval under Section 80G(5) is contingent upon independent compliance with its own statutory conditions, and exemption under Section 10(23C) cannot substitute for the mandatory requirement of maintaining regular accounts of receipts and expenditure.
TaxTMI 
TaxTMI 
