ITAT Mumbai: Mere Possibility of Expenditure Outside India Not a Bar to Section 12AB Registration

TIH Foundation For IOT AND IOE Vs CIT (Exemption) (ITAT Mumbai) Summary: The Income Tax Appellate Tribunal (ITAT) Mumbai set aside an order denying registration to TIH Foundation for IoT & IoE under Section 12AB of the Income Tax Act. The Commissioner of Income Tax (Exemption) had rejected the registration application due to the possibility of future overseas expenditure by the foundation. The ITAT held that such reasoning is untenable, emphasizing that denial of registration cannot be based merely on potential application of income outside India. Judicial precedents were relied upon, clar...