2010 (8) TMI 657

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....p; M.M.SUNDRESH, J.   The Revenue has filed this appeal challenging the order of the Tribunal in ITA No.1899/Mds/2009, dated 11.2.2010, by raising the following reframed substantial questions of law:-   (i) Whether on the facts and in the circumstances of the case, the Income Tax Appellate Tribunal was right in setting aside the order of the Commissioner of Income Tax under Sect....

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....ief are that the assessee is a Trust having filed an application in Form No.10-G for initial exemption under Section 80-G of the Income Tax Act. The Commissioner of Income Tax has rejected the application filed by the assessee seeking exemption under Section 80-G of the Act on the ground that the assessee has not spent at least 85% of its income for the relevant assessment years viz. 2006-07 and 2....

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....iture incurred by the assessee for the assessment years 2006-07 and 2008-09 is more than 85%, entitling the assessee for initial exemption under Section 80-G of the Income Tax Act. Challenging the abovesaid order of the Income Tax Appellate Tribunal, the Revenue has filed the present appeal.   3. Mr.K.Subramaniam, learned Standing Counsel for the Income Tax, submitted that in so far as sub....

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....learned standing Counsel for the Revenue submitted that it is not the case of the Revenue that after adjusting the excess expenditure incurred by the assessee on charitable purposes in the earlier years, the expenditure is more than 85% for the relevant years.   5. Even a perusal of the details furnished by the assessee in the Application Form No.10-G of the Income Tax Act, would show that....