TaxTMI 
TaxTMI 
2019 (6) TMI 784
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....emptions), Chandigarh on the grounds inter alia that :- "On the facts and in the circumstances of the case and in law the Ld. CIT (E) erred in rejecting the application seeking approval for exemption u/s80G of the Income-tax Act, 1961. The order being arbitrary, misconceived, erroneous and unjust must be quashed with directions to grant approval as sought." 2. Briefly stated the facts necessary for adjudication of the controversy at hand are : Application moved by the applicant society in Form 10G for seeking approval under section 80G of the Income-tax Act, 1961 (for short 'the Act') has been rejected by the ld. CIT (E) on the grounds inter alia that the applicant has failed to provide cogent reasons for seeking donations to su....
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....o donations to any institution or fund referred to in sub-clause (iv) of clause (a) of sub-section (2), only if it is established in India for a charitable purpose and if it fulfills the following conditions, namely :- (i) where the institution or fund derives any income, such income would not be liable to inclusion in its total income under the provisions of sections 11 and 12 or clause (23AA) or clause (23C) of section 10 : Provided that where an institution or fund derives any income, being profits and gains of business, the condition that such income would not be liable to inclusion in its total income under the provisions of section 11 shall not apply in relation to such income, if- (a) the institution or fun....
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...., or affiliated to any University established by law, or is an institution financed wholly or in part by the Government or a local authority; (vi) in relation to donations made after the 31st day of March, 1992, the institution or fund is for the time being approved by the Commissioner in accordance with the rules made in this behalf; and (vii) where any institution or fund had been approved under clause (vi) for the previous year beginning on the 1st day of April, 2007 and ending on the 31st day of March, 2008, such institution or fund shall, for the purposes of this section and notwithstanding anything contained in the proviso to clause (15) of section 2, be deemed to have been,- (a) established for charitable p....
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.... before the ld. CIT (E) that financial statements are under-compilation and has not yet been finalized as due date of filing of audited financials for such financial year for charitable trust is 30.09.2018. 9. Ld. CIT (E) specifically recorded in impugned order that applicant society failed to provide even provisional financial statement for FY 2017-18 in whose absence expenditure and receipt of the applicant society cannot be examined in order to corroborate the claim of the applicant society. 10. Ld. CIT (E) also noticed from the bank statement that the whole receipt has not been routed through the bank rather the receipt routed through bank was 64.8% and 70% in FY 2015-16 and 2016-17 which shows that the applicant society has been ....