Appeal allowed, Assessee granted 80G(5) approval from date of application.

The appeal was allowed, and the impugned order of the Ld. CIT (Exemptions) under section 80G(5)(vi) of the Income Tax Act, 1961 was set aside. The Tribunal directed approval/exemption under section 80G(5) for the Assessee from the date of application, considering compliance with charitable activities and registration under section 12A. The Assessee's entitlement to approval under section 80G(5) was affirmed, overturning the initial dismissal of the application as premature.

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Issues:
1. Appeal against the Order of the Ld. CIT (Exemptions) under section 80G(5)(vi) of the Income Tax Act, 1961.
2. Premature dismissal of application for approval under section 80G(5)(vi) despite registration under section 12A.

Analysis:
Issue 1: The appeal was directed against the Order of the Ld. CIT (Exemptions) under section 80G(5)(vi) of the Income Tax Act, 1961. The Ld. CIT(E) noted that the assessee had filed applications for approval under section 80G(5)(vi) and section 12AA of the I.T. Act, 1961. The application under section 80G(5)(vi) was considered premature and dismissed.

Issue 2: The Assessee argued that a similar situation was addressed in the case of Bharat Bhushan Jain Charitable Trust vs. CIT (Exemptions), where the Tribunal found the application premature but granted approval under section 80G(5). It was highlighted that the Commissioner (Exemptions) did not dispute the charitable activities carried out by the assessee or the compliance with section 80G(5) conditions. The Tribunal set aside the impugned order and directed approval/exemption under section 80G(5).

The Revenue did not dispute the facts but maintained that the application was premature. The Tribunal, considering the circumstances and the registration under section 12A, concluded that the assessee was entitled to approval under section 80G(5) as the charitable activities were in compliance with the Act. The impugned order was set aside, and the Ld. CIT(E) was directed to grant approval/exemption under section 80G(5) from the date of application.

In conclusion, the appeal of the Assessee was allowed based on the Tribunal's findings and the satisfaction of conditions for approval under section 80G(5) of the Income Tax Act, 1961. The impugned order was overturned, and the Ld. CIT(E) was instructed to grant approval to the Assessee.

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