Belated 80G Application Revived: ITAT Applies Finance Act, 2024 Amendment and Sets Aside Rejection

Audacious Dreams Foundation Vs CIT (Exemptions) (ITAT Chennai) Belated 80G Application Revived: ITAT Applies Finance Act, 2024 Amendment and Sets Aside Rejection The Chennai Bench of the ITAT, in Audacious Dreams Foundation v. CIT (Exemptions), dealt with rejection of an application for approval under section 80G(5) on the ground of delay. The assessee-trust had filed Form 10AB on 05.11.2024 under clause (iii) of the first proviso to section 80G(5). The CIT(E) rejected the application as not maintainable, holding that it ought to have been filed by 30.06.2024 in terms of CBDT Circular No. 7/20...