2022 (11) TMI 619

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.... in term of sixth proviso to section 80G(5) of the Act. For this, assessee has raised the following two grounds:- "1. The order of the Principal Commissioner of Income Tax (hereinafter referred to as PCIT) is contrary to the law, facts and circumstances of the case. 2. The PCIT erred in holding that the provisional approval under Section 80G(5) is applicable only from 23/09/2021 as against the date 01/04/2021 as per fourth proviso to Section 80G(5). 3. We have heard rival contentions and gone through facts and circumstances of the case. Brief facts are that the assessee is a public charitable trust constituted vide trust deed dated 12.12.2018 and got registered u/s.12AA of the Act vide order dated 25.11.2019. The assessee filed appli....

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....nditions subject to which it is granted, if it is found that the applicant has obtained the provisional approval by fraud or misrepresentation of facts or it is found that the assessee has violated any condition prescribed in the Income Tax Act, 1961. Aggrieved against approval by PCIT from 23.09.2021 instead of granting approval from 01.04.2021, the assessee came in appeal before the Tribunal. 4. Before us, the ld.counsel for the assessee referred to first proviso to clause (iv) to section 80G(5) which reads as under:- "Provided that the institution or fund referred to in clause (vi) shall make an application in the prescribed form and manner to the Principal Commissioner or Commissioner, for grant of approval- (i) where the instit....

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....nted under the second proviso shall apply to an institution or fund, where the application is made under- (a) clause (i) of the first proviso, from the assessment year from which approval was earlier granted to such institution or fund; (b) clause (ii) of the first proviso, from the first of the assessment years for which such institution or fund was provisionally approved; (c) in any other case, from the assessment year immediately following the financial year in which such application is made. As per this proviso, the ld.counsel stated that the approval should have been w.e.f. 01.04.2021 and not from 23.09.2021. When this was confronted to ld. CIT-DR, he stated that the assessee made application from that date and from that dat....