ITAT Remands Case for Fresh Review of Trustee Loans & 12AB/80G Approval

Snehbandh Foundation Vs CIT (ITAT Pune) The Income Tax Appellate Tribunal (ITAT) Pune has remanded the applications of Snehbandh Foundation for regular registration under Section 12AB(1)(b)(ii) and approval under Section 80G(5) of the Income-tax Act. The foundation’s applications were initially rejected by the CIT (Exemptions) (CIT(E)) on September 30, 2024, due to concerns regarding the genuineness of activities and the absence of Charity Commissioner sanction for loans taken from a trustee. During the ITAT proceedings, the assessee’s counsel requested an additional opportunity to...