ITA No. 308/CHD/2024

Parties Involved

Facts Summary

The assessee, Plaksha Incubation Centre, filed an application under Section 80G of the Income Tax Act before the Commissioner of Income Tax (Exemptions) on 30.09.2023. The Commissioner rejected the application as non-maintainable, as it was filed after the six-month period from the date of commencement of activities. The assessee appealed this decision to the Income Tax Appellate Tribunal. The Tribunal considered the CBDT Circular No. 7/2024, which extended the time limit for filing Form 10AB to 30.06.2024. The Tribunal found that the application should be examined on merits and not dismissed due to the limitation.…

Legal Issues

• 1. Whether the application of the assessee should be examined on merits or dismissed as barred by limitation?

Judgment Outcome

Decided in favour of Assessee.

Precedents Relied Upon

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