2025 (10) TMI 1145

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....fter referred to as 'the Act'). 2. The sole ground of appeal in this appeal of assessee is against rejection of application seeking approval u/s.80G of the Act on the ground that the same is not maintainable. 3. The assessee had filed an application dated 31.07.2024 in Form No. 10AB under clause (iii) of the first proviso to sub-section (5) of Section 80G of the Act. The Ld.CIT(E) rejected the application on the ground that the trust was required to file the application by 30.06.2024, in view of CBDT Circular No.7/2024 dated 25.04.2024, but has filed it belatedly on 31.07.2024, with a delay of '31' days. The Ld.CIT(E) held the application to be not maintainable. 4. The Learned Authorized Representative (Ld.AR) of the assessee has s....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....to force. 5. On the other hand, the Ld. Departmental Representative (DR), has relied on the order of Ld CIT(E) and contended that assessee may now file fresh application as per the amended provision under clause (iv)(B) of Section 80G(5). 6. We have heard the rival submissions, and perused the materials available on record. The assessee made application under clause (iii) of first proviso to sub-section (5) of Section 80G of the Act seeking approval u/s. 80G of the Act on 31.07.2024. The Ld. CIT(E) has rejected the application as not maintainable on the ground that the assessee has not filed the application before 30.06.2024, which is the cut-off date prescribed by the CBDT Circular No.7/2024 dated 25.04.2024. However, it is noted tha....

X X   X X   Extracts   X X   X X

Full Text of the Document

X X   X X   Extracts   X X   X X

....on'ble Tribunal is that the application filed on 31.07.2024 under clause (iii) be considered as an application filed under sub-clause (B) of clause (iv) of 1st proviso to section 80G(5) of the Act. This provision was inserted by the Finance Act, 2024, w.e.f.01.10.2024, which enabled trusts to file the applications at any time after the commencement of its activities. Once this application is filed, the CIT(E) can scrutinize the application filed and if satisfied, he can provide registration for 5 years. As per 4th proviso to section 80G(5) of the Act, this registration is to be granted from the assessment year immediately following the financial year in which such application is made. The application was filed on 31.07.2024, during the F.Y.....