https://www.taxtmi.com/caselaws?id=766754 Cancellation of approval under Section 80G was found unjustified where the assessee produced valid Section 12AB registration, audited financial statements, receipts and payments statements, FCRA fund-utilisation details, and other supporting records showing that funds were deployed for the trust's objects. The Tribunal accepted that, on this material, the finding that the funds remained idle in bank FDRs and were not used for charitable purposes was not sustainable, and the cancellation was set aside in favour of the assessee. en-us Mon, 10 Feb 2025 00:00:00 +0530 Tue, 04 Mar 2025 07:12:48 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=766754 Cancellation of approval under Section 80G was found unjustified where the assessee produced valid Section 12AB registration, audited financial statements, receipts and payments statements, FCRA fund-utilisation details, and other supporting records showing that funds were deployed for the trust's objects. The Tribunal accepted that, on this material, the finding that the funds remained idle in bank FDRs and were not used for charitable purposes was not sustainable, and the cancellation was set aside in favour of the assessee. Case-Laws Income Tax Mon, 10 Feb 2025 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=766754