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Emphasising substance over form, the ruling clarifies that genuine charitable trusts should not be denied renewal solely on procedural timelines where reasonable cause exists.
The AO questioned genuineness and love and affection behind the gift. The ITAT held that once relationship and capacity are proved through documents, no addition can survive.
The issue was whether delayed filing of Form 10B bars exemption for a charitable trust. The Tribunal held the delay to be procedural and sustained exemption since audit was completed and report filed during appellate proceedings.
The trust sought exemption by invoking later registration under section 12AA. The tribunal ruled that exemption cannot be granted retrospectively through section 154 when no assessment was pending on the registration date.
The Tribunal clarified that section 80G(2) applies to donor deductions, not trust registration. Since conditions under section 80G(5) were fulfilled, registration was directed to be granted.
ITAT Indore held that trust has passed resolution dealing with dissolution and utilization of assets in event of dissolution. Accordingly, the said resolution must be accepted by CIT(E) for granting final approval under section 80G of the Income Tax Act. Thus, matter remanded to the file of CIT(E).
The association’s surplus was not distributable to members and activities were non-profit. The ITAT ruled that these factors support charitable character and restored the case for re-evaluation.
The tribunal ruled that section 263 cannot be invoked merely because the Commissioner believes further enquiry was possible. Unless the order is unsustainable in law, revision on alleged inadequate enquiry is impermissible.
The tribunal held that delay in filing Form 10BB is only a procedural lapse and not a substantive bar to exemption. Where the audit report was available before processing, denial of section 11 exemption was unsustainable.
The tribunal held that Maximum Marginal Rate implies tax at the highest slab rate of 30%, not automatic levy of 37% surcharge. Surcharge must strictly follow slab thresholds prescribed in the Finance Act.
