IIT Kanpur Development Foundation v. The CIT (Exemption)

Parties Involved

Facts Summary

The assessee, IIT Kanpur Development Foundation, had applied for registration under section 12AB of the Income Tax Act, 1961 before the Commissioner of Income Tax (Exemption) in Form No.10AD. The application was rejected by the Commissioner on 30.03.2023. The assessee appealed against this order to the Income Tax Appellate Tribunal, Lucknow Bench 'B'. Subsequently, the assessee filed another application for registration before the Commissioner of Income Tax (Exemption) on Form 10AB, which was granted on 28.05.2024. In light of this, the assessee moved an application to withdraw the appeal before the Tribunal.…

Legal Issues

• 1. Whether the appeal should be withdrawn?

Judgment Outcome

Decided in favour of Assessee.

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