Alvita Foundation vs. CIT (Exem.)

Parties Involved

Facts Summary

The assessee, Alvita Foundation, is a Section 8 Company registered as a non-profit organization (NPO) with the main objects of promoting education and protecting the environment. The company was incorporated on 05.04.2021 and registered with the Registrar of Companies, Mumbai. The company filed an application in Form 10AB under section 12A of the Income Tax Act, 1961. The company was granted provisional approval under section 12A in Form 10AC by the CPC, Bengaluru, on 08.02.2022, valid up to the financial year 2023-24 (Assessment Year 2024-25). The company commenced activities in the financial year 2023-24 on 19.07.2023. The company was required to file Form 10AB for regular registration six months before the expiry of the provisional registration, i.e., by 30.09.2023. However, the company filed the form on 26.10.2023, causing a delay of 26 days. The CIT (Exemption), Mumbai, rejected the application for grant of approval under section 12A due to this delay.…

Legal Issues

• 1. Whether the delay in filing Form 10AB by 26 days should be condoned?

Judgment Outcome

Decided in favour of Assessee.

Precedents Relied Upon

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