https://www.taxtmi.com/caselaws?id=766754 The Tribunal allowed the appeal of the assessee trust, overturning the CIT (Exemption)'s order that rejected approval under section 80G(v)(i) of the Income Tax Act, 1961. The Tribunal found that the assessee trust had valid registrations under section 12AB and approval under section 80G for the relevant assessment years. It disagreed with the CIT (Exemption)'s findings on non-utilization of funds, noting compliance with statutory requirements and utilization of funds for the trust's objectives. The Tribunal concluded that the assessee trust was utilizing its funds appropriately, ruling in favor of the assessee. en-us Mon, 10 Feb 2025 00:00:00 +0530 Tue, 04 Mar 2025 07:12:49 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=766754 The Tribunal allowed the appeal of the assessee trust, overturning the CIT (Exemption)'s order that rejected approval under section 80G(v)(i) of the Income Tax Act, 1961. The Tribunal found that the assessee trust had valid registrations under section 12AB and approval under section 80G for the relevant assessment years. It disagreed with the CIT (Exemption)'s findings on non-utilization of funds, noting compliance with statutory requirements and utilization of funds for the trust's objectives. The Tribunal concluded that the assessee trust was utilizing its funds appropriately, ruling in favor of the assessee. Case-Laws Income Tax Mon, 10 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=766754