https://www.taxtmi.com/caselaws?id=754198 ITAT Chennai held that a trust's application for deduction under section 80G(5)(iii) filed in Form 10AB, which was rejected by CIT(E) for violating mandatory timelines, should be reconsidered. The bench applied the extended deadline of 30.09.2023 per CBDT Circular to Form 10AB applications. Relying on Madras HC's decision in Sri Nrisimha Priya Charitable Trust case, the tribunal noted that clause 5(ii) of CBDT Circular No.6/2023 was declared ultra vires the Constitution. The trust, which commenced activities in 2020 and already held provisional approval under section 80G(5)(iv) until AY 2024-25, was entitled to have its application considered on merits within the extended timeframe. en-us Wed, 17 Apr 2024 00:00:00 +0530 Tue, 18 Jun 2024 18:09:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=754198 ITAT Chennai held that a trust's application for deduction under section 80G(5)(iii) filed in Form 10AB, which was rejected by CIT(E) for violating mandatory timelines, should be reconsidered. The bench applied the extended deadline of 30.09.2023 per CBDT Circular to Form 10AB applications. Relying on Madras HC's decision in Sri Nrisimha Priya Charitable Trust case, the tribunal noted that clause 5(ii) of CBDT Circular No.6/2023 was declared ultra vires the Constitution. The trust, which commenced activities in 2020 and already held provisional approval under section 80G(5)(iv) until AY 2024-25, was entitled to have its application considered on merits within the extended timeframe. Case-Laws Income Tax Wed, 17 Apr 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=754198