Tomorrow's Foundation vs. CIT(Exemption), Kolkata

Parties Involved

Facts Summary

The assessee, Tomorrow's Foundation, was already registered/approved under section 80G(5) of the Income Tax Act as a charitable institution since 1999. An amendment to section 80G of the Act required institutions already approved before the amendment to re-apply for approval within three months from April 1, 2021. The assessee applied for provisional approval under Clause (iv) of the First Proviso to section 80G(5) of the Act, which was granted for the period from March 10, 2023, to AY 2025-26. The assessee then applied for final approval under Clause (iii) of the First Proviso to section 80G(5) of the Act, which was rejected by the Commissioner of Income Tax (Exemption), Kolkata. The assessee appealed against this order.…

Legal Issues

• 1. Whether the application for final approval under section 80G(5) of the Act was time-barred?

Judgment Outcome

Decided in favour of Assessee.

Precedents Relied Upon

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