Parrot Dipankar Charitable Trust Vs. CIT(Exemption)-Kolkata

Parties Involved

Facts Summary

The Parrot Dipankar Charitable Trust had been granted provisional approval under section 80G(5)(iii) of the Income Tax Act in form 10AC for the period from 24.09.2021 to AY 24-25. Subsequently, the Trust filed an application for approval under section 80G(5)(iii) in form 10AB on 08.09.2023. The Commissioner of Income Tax (Exemption)-Kolkata issued a notice requesting details and documents, to which the Trust responded. However, the Commissioner held that the application was non-maintainable as the filing of form 10AB was mandatory and no extension had been granted, leading to the cancellation of the provisional approval. Aggrieved by this decision, the Trust filed an appeal before the ITAT.…

Legal Issues

• 1. Whether the filing of form 10AB by the assessee is mandatory or directory.
• 2. Whether the delay in filing form 10AB should result in the denial of exemption benefits.

Judgment Outcome

Decided in favour of Assessee.

Precedents Relied Upon

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