https://www.taxtmi.com/caselaws?id=449510 ITAT Raipur upheld CIT(E)'s rejection of university's application for registration under sections 12AB and 80G(5) based on CAG-reported deficiencies including unauthorized loans, advances and deposits without MoE/UGC sanction. However, since CIT(E) failed to specifically establish how these non-compliances materially affected the university's objects as required under section 12AB(1)(b)(i)(B), the matter was remanded to CIT(E) for fresh consideration and verification of the deficiencies' impact on achieving the university's objectives. Appeal partly allowed through remand. en-us Fri, 09 Feb 2024 00:00:00 +0530 Tue, 13 Feb 2024 12:31:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=449510 ITAT Raipur upheld CIT(E)'s rejection of university's application for registration under sections 12AB and 80G(5) based on CAG-reported deficiencies including unauthorized loans, advances and deposits without MoE/UGC sanction. However, since CIT(E) failed to specifically establish how these non-compliances materially affected the university's objects as required under section 12AB(1)(b)(i)(B), the matter was remanded to CIT(E) for fresh consideration and verification of the deficiencies' impact on achieving the university's objectives. Appeal partly allowed through remand. Case-Laws Income Tax Fri, 09 Feb 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=449510