Statutory refund interest requires correction of short computation and compensation where admitted interest remains unpaid through administrative dela...
Clean slate principle extinguishes uncrystallised operational claims and bars continuation of pending recovery and arbitral proceedings after plan app...
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ITAT allowed the appeal in part and remitted the matter to CIT(E) for limited inquiry. The Tribunal held that a trust/fund may be of composite charitable and religious character and is disqualified under s.80G(5) only if application of income to religious purposes exceeds the 5% threshold in s.80G(5B). Noting CIT(E) had found religious expenditure over 5% but had not considered the applicant's explanations that those outlays were charitable, the ITAT directed cit(E) to examine and verify the applicant's submissions against s.80G(5B) and, if the religious expenditure does not exceed the statutory limit, to grant approval under s.80G. Appeal allowed for statistical purposes.
ITAT allowed the appeal in part and remitted the matter to CIT(E) for limited inquiry. The Tribunal held that a trust/fund may be of composite charitable and religious character and is disqualified under s.80G(5) only if application of income to religious purposes exceeds the 5% threshold in s.80G(5B). Noting CIT(E) had found religious expenditure over 5% but had not considered the applicant's explanations that those outlays were charitable, the ITAT directed cit(E) to examine and verify the applicant's submissions against s.80G(5B) and, if the religious expenditure does not exceed the statutory limit, to grant approval under s.80G. Appeal allowed for statistical purposes.
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