https://www.taxtmi.com/caselaws?id=754993 ITAT PUNE allowed the appeal for statistical purposes after finding that CIT(Exemption) improperly rejected registration u/s 12AB r.w.s. 12A(1)(ac)(i) of a section 8 company trust engaged in providing medical relief to geriatric population. The rejection was based on donations not being routed through designated accounts and alleged substantial surplus generation. However, ITAT found the surplus amounts were nominal (Rs. 160,562 and Rs. 179,157 for respective years) and CIT(Exemption) failed to consider the trust's charitable registration under Companies Act, 2013 section 7(2). The matter was remanded to CIT(Exemption) with directions to provide another opportunity for the assessee to substantiate its case. en-us Wed, 12 Jun 2024 00:00:00 +0530 Thu, 04 Jul 2024 08:17:08 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=754993 ITAT PUNE allowed the appeal for statistical purposes after finding that CIT(Exemption) improperly rejected registration u/s 12AB r.w.s. 12A(1)(ac)(i) of a section 8 company trust engaged in providing medical relief to geriatric population. The rejection was based on donations not being routed through designated accounts and alleged substantial surplus generation. However, ITAT found the surplus amounts were nominal (Rs. 160,562 and Rs. 179,157 for respective years) and CIT(Exemption) failed to consider the trust's charitable registration under Companies Act, 2013 section 7(2). The matter was remanded to CIT(Exemption) with directions to provide another opportunity for the assessee to substantiate its case. Case-Laws Income Tax Wed, 12 Jun 2024 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=754993