2025 (5) TMI 1696

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....2023 u/s 12AB of the Act. 2. There is a delay of 30 days in filing of this appeal before the Tribunal, for which the assessee has filed a condonation application along with an affidavit explaining the reasons for such delay. After considering the contents of the condonation application filed along with the affidavit and after hearing the Ld. DR, the delay in filing of the appeal is condoned and the appeal is admitted for adjudication. 3. Facts of the case, in brief, are that the assessee filed an application in form No.10AB under clause (iii) of section 12A(1)(ac) of the Act on 30.09.2023. With a view to verify the genuineness of activities of the assessee and compliance to requirements of any other law for the time being in force by ....

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.... in the show notice and discrepancies noticed and also that the assessee has not complied with the provisions of section 12AB(1)(b)(i) of the Income Tax Act, 1961 as well as the provisions of Rule 17A(2) of Income Tax Rules, 1962 in spite giving sufficient opportunities, the undersigned is unable to draw any satisfactory conclusion about the genuineness of activities of the assessee and compliance of requirements of any other law for the time being in force by the assessee as are material for the purpose of achieving its objects. 5. In view of the above, the application filed by the assessee is hereby rejected and the provisional registration granted on 28/02/2023 under section 12AB read with section 12A(1)(ac)(vi) of the Income Ta....

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.... for which the CIT(Exemption) decided the issue against the assessee since he was unable to draw a proper conclusion about the genuineness of the activities of the assessee trust and compliance of any other law for the time being in force by the trust / institution as are material for the purpose of achieving its objects. It is the submission of the Ld. Counsel for the assessee that given an opportunity, the assessee is in a position to explain the case properly before the CIT (Exemption). Considering the totality of the facts of the case and in the interest of justice, we deem it proper to restore the issue to the file of the CIT(Exemption) with a direction to grant one final opportunity to the assessee to substantiate its case by filing t....