ITA No. 954/KOL/2024 Prameya Foundation Vs CIT (Exemption), Kolkata

Parties Involved

Facts Summary

The assessee, Prameya Foundation, is an existing trust that was granted provisional approval under section 80G(5)(iv) of the Income Tax Act, 1961, for a period from 24.09.2021 to A.Y. 2024-25. The trust filed an application for final registration under section 80G(5)(iii) of the Act on 29.09.2023. The Commissioner of Income Tax (Exemption) rejected the application, stating that it was filed beyond the prescribed time limit. The assessee appealed this decision to the ITAT, arguing that the rejection was erroneous and that the application was filed within the permissible time frame.…

Legal Issues

• 1. Whether the order rejecting the application for final registration under Section 80G(5) of the Income Tax Act, 1961 is legally sustainable?
• 2. Whether the CIT(Exemption) erred in rejecting the application for final registration?

Judgment Outcome

Decided in favour of Assessee.

Precedents Relied Upon

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