2011 (12) TMI 646

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....ee Trust is in appeal against the order dated 18.8.2011 passed by learned DIT(E), rejecting the assessee's application furnished in Form No. 10G, for renewal of exemption u/s 80G of the I.T. Act, 1961 (the Act). 2. In the grounds of appeal, the assessee has taken one legal plea that while rejecting the assessee's application for renewal of exemption u/s 80G filed on 24.12.2011, the lear....

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....viso to Section 80G(5)(vi) is in favour of the assessee, we decided to proceed to dispose of this appeal after hearing the ld. DR. Ld. DR was accordingly heard. 4. In this case, the assessee made an application on 24.2.2011 in Form No. 10G, seeking renewal of exemption u/s 80G of the Act, which has been rejected by the ld. CIT(A) by observing that the assessee has failed to furnish bills/vouche....

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...., 2009 w.e.f. 1.10.2009 to provide that the approval once granted shall continue to be valid in perpetuity. The impact and scope of the omission of proviso to clause (vi) of sub-sec. (5) of Sec. 80G has been explained by the Board in its Circular No. 5 dated 3.6.2010, clarifying that the existing approval expiring on or after 1st October, 2009 shall be deemed to have been extended in perpetuity, u....

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.... Taxman 138(All.), where the Hon'ble High Court has held that exemption already granted on or after 1.10.2009 shall be deemed to be continued in perpetuity and it will continue so long as it is not withdrawn, as per the provisions of the Act. This aspect of the matter, about the omission of proviso to Section 80G(5)(vi) read with the Board's Circular, has not been considered by the ld. DIT....