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Rejection of Application for Final Approval u/s 80G(5)(iii) - The Tribunal observed that the CBDT Circular extending the date for final applications did not apply to institutions filing under Clause (iv) to First Proviso to section 80G(5) of the Act. It ruled that the appellant's application for final approval was within the limitation period and directed the CIT(Exemption) to grant provisional approval if the appellant met eligibility criteria. Additionally, the Tribunal clarified that if final approval was granted, the benefit of approval under section 80G of the Act would be deemed to continue without break.
Rejection of Application for Final Approval u/s 80G(5)(iii) - The Tribunal observed that the CBDT Circular extending the date for final applications did not apply to institutions filing under Clause (iv) to First Proviso to section 80G(5) of the Act. It ruled that the appellant's application for final approval was within the limitation period and directed the CIT(Exemption) to grant provisional approval if the appellant met eligibility criteria. Additionally, the Tribunal clarified that if final approval was granted, the benefit of approval under section 80G of the Act would be deemed to continue without break.
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