ITAT Restores 12AB Registration Case for Reconsideration Over Overseas Fund Use

Discover Ekam Foundation Vs ITO (Exemptions) (ITAT Mumbai) The Income Tax Appellate Tribunal (ITAT), Mumbai Bench, in the case of Discover Ekam Foundation Vs ITO (Exemptions), has restored the assessee’s application for Section 12AB registration back to the Commissioner of Income Tax (Exemptions) [CIT(E)] for fresh adjudication. The assessee, a trust, had its application in Form 10AB for registration under Section 12AB rejected by the CIT(E) for the Assessment Year 2025-26. The sole ground for rejection was that the objects of the trust deed indicated an intention to apply funds outside ...