Appeal Allowed for Reassessment of Form 10AB Filing Due to Extended Deadline Consideration and Revaluation Needed. The ITAT allowed the appeal for statistical purposes, remitting the matter back to the CIT(Exemptions) for a fresh decision. The appellant's delayed ...
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Appeal Allowed for Reassessment of Form 10AB Filing Due to Extended Deadline Consideration and Revaluation Needed.
The ITAT allowed the appeal for statistical purposes, remitting the matter back to the CIT(Exemptions) for a fresh decision. The appellant's delayed filing of Form 10AB was reconsidered following the CBDT's extension of the due date. The ITAT concluded that the appellant's case was eligible for the extended deadline, necessitating a reevaluation by the CIT(Exemptions).
Issues: 1. Rejection of approval u/s. 80G of the Act due to belated filing of application in Form 10AB. 2. Request for fresh consideration based on CBDT's extension of due date for filing Form 10AB. 3. Remittance of the matter back to the CIT(Exemptions) for a fresh decision.
Analysis: Issue 1: The appeal was filed against the rejection of approval u/s. 80G of the Act due to the belated filing of the application in Form 10AB. The provisional approval was granted earlier, but the regularisation application was filed after the due date specified in the Act. The CIT(Exemptions) rejected the application based on the proviso to section 80G(5) of the Act, leading to the appeal before the ITAT.
Issue 2: The appellant's representative argued that the CBDT extended the due date for filing Form 10AB through a press release, allowing submissions until 30th June 2024. Citing this extension, the appellant requested the issue to be sent back to the CIT(Exemptions) for fresh consideration. The CBDT's circular clarified that entities failing to file Form 10A within the extended due date could apply for registration as an existing entity until 30th June 2024.
Issue 3: Following a thorough review of the CBDT's press release and the appellant's case, the ITAT concluded that the appellant's situation fell within the scope of the extended due date provided by the CBDT. Consequently, the matter was remitted back to the CIT(Exemptions) for a fresh decision in accordance with the law. The appeal was allowed for statistical purposes, and the decision was pronounced in open court on 24th June 2024.
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