M/s Loknayak Foundation, Visakhapatnam v. The Commissioner of Income Tax-1, Visakhapatnam

ITA 439/VIZ/2010 | misc
Pronouncement Date: 07-12-2010 | Result: Allowed

Appeal Details

RSA Number 43925314 RSA 2010
Bench Visakhapatnam
Appeal Number ITA 439/VIZ/2010
Duration Of Justice 3 month(s) 5 day(s)
Appellant M/s Loknayak Foundation, Visakhapatnam
Respondent The Commissioner of Income Tax-1, Visakhapatnam
Appeal Type Income Tax Appeal
Pronouncement Date 07-12-2010
Appeal Filed By Assessee
Order Result Allowed
Bench Allotted DB
Tribunal Order Date 07-12-2010
Date Of Final Hearing 01-12-2010
Next Hearing Date 01-12-2010
Assessment Year misc
Appeal Filed On 01-09-2010
Judgment Text
ITA 439/VIZ/2010 LOK NAYAK FOUNDATION VSKP IN THE INCOME TAX APPELLATE TRIBUNAL VISAKHAPATNAM BENCH VISAKHAPATNAM BEFORE: SHRI SUNIL KUMAR YADAV JUDICIAL MEMBER AND SHRI BR BASKARAN ACCOUNTANT MEMBER ITA NO. 439 /VIZAG/ 20 10 ASSESSMENT YEAR : N.A. M/S. LOKNAYAK FOUNDAT ION VISAKHAPATNAM CIT - 1 VISAKHAPATNAM (APPELLANT) VS. (RESPONDENT) PAN NO.AAATL 2399D APPELLANT BY: N O N E RESPONDENT BY: SHRI R.K. SINGH DR ORDER PER SHRI S.K. YADAV JUDICIAL MEMBER : - THIS APPEAL IS PREFERRED BY THE ASSESSEE AGAINST THE OR DER OF THE CIT ON A SOLITARY GROUND THAT CIT IS NOT CORRECT IN OVERLOOKING THE SUBMISSIONS OF THE ASSESSEES WHEREIN IT WAS SUBMITTED THAT APPLICATION FILED IN FORM 10G FOR RENEWAL OF REGISTRATION U/S 80G IS REDUNDANT IN VIEW OF THE CHANGE IN THE PROVISIO NS OF THE STATUTE BROUGHT IN BY THE FINANCE ACT. THIS APPEAL CAME UP FOR HEARING ON 1 ST DECEMBER 2010 BUT NONE APPEARED ON BEHALF OF THE ASSESSEES. WE THEREFORE HAD NO OPTION BUT TO HEAR THE APPEAL EX - PARTE. ACCORDINGLY THE REVENUE WAS HEARD. 2. WE HAVE CAREFULLY EXAMINED THE ORDER OF THE CIT AND WE FIND THAT ASSESSEE HAS RAISED A SPECIFIC PLEA BEFORE THE CIT THAT AS PER THE AMENDED PROVISIONS OF SECTION 80G(5) OF THE I.T. ACT EXISTING APPROVALS EXPIRING ON OR AFTER 1.10.2009 WILL BE DEEMED TO HAVE BEEN EXTENDED IN PERPETUITY UNLESS SPECIFICALLY DRAWN. IT WAS ALSO STATED BEFORE THE CIT THAT SINCE THE EXPIRY OF THE PERIOD EARLIER GRANTED WOULD BE EXPIRING ON 31 ST MARCH 2010 WHICH IS AFTER 1.10.2009 IT WOULD BE DEEMED THAT THE APPROVAL HAVE BEEN GIV EN UNDER I.T. ACT. THIS ARGUMENT OF THE ASSESSEE WAS NOT CONSIDERED BY THE CIT WHILE REJECTING THE REQUEST FOR RENEWAL OF RECOGNITION OF EXEMPTION U/S 80G(5)(VI) OF THE ACT. CIT HAS TURNED DOWN THE REQUEST ONLY FOR THE REASON THAT TRUST DID NOT FILE THE RELEVANT PARTICULARS FOR GRANTING EXEMPTION. WHEN THE ITA 439/VIZ/2010 LOK NAYAK FOUNDATION VSKP 2 ASSESSEE HAS RAISED A SPECIFIC PLEA BEFORE THE CIT THE CIT SHOULD HAVE ADJUDICATED THAT ISSUE WHILE REJECTING THE CLAIM OF THE ASSESSEE. WE THEREFORE OF THE VIEW THAT CIT HAS NOT PROPERLY EXAMINED TH E STAND OR THE ARGUMENTS RAISED BY THE ASSESSEES. WE THEREFORE SET ASIDE HIS ORDER AND RESTORE THE MATTER TO HIS FILE WITH THE DIRECTION TO RE - EXAMINE THE ISSUE OF RENEWAL OF RECOGNITION OF EXEMPTION U/S 80G(5) OF THE ACT IN THE LIGHT OF THE STAND TAKEN BY THE ASSESSEE. WE ALSO DIRECT THE ASSESSEE TO EXTEND ALL CO - OPERATION TO THE CIT IN ADJUDICATING THE ISSUE AND ALSO TO FURNISH THE RELEVANT INFORMATION ON WHICH IT INTEND TO RELY AND ALL THOSE INFORMATION WHICH ARE BEING SOUGHT BY THE CIT. 3. IN THE RE SULT THE APPEAL OF THE ASSESSEE IS ALLOWED FOR STATISTICAL PURPOSES. PRONOUNCED IN THE OPEN COURT ON 07.2. 20 10 SD/ - SD/ - (BR BASKARAN) (SUNIL KUMAR YADAV) ACCOUNTANT MEMBER JUDICIAL MEMBER VG/SPS VISA KHAPATNAM DATED 7 TH DECEMBER 20 10 COPY TO 1 M/S. LOKNAYAK FOUNDATION C/O SRI C. SUBRAHMANYAM FCA CHARTERED ACCOUNTANT 102 LAKSHMI APARTMENT FACOR LAYOUT WALTAIR UPLANDS VISAKHAPATNAM - 530 003. 2 THE CIT - 1 VISAKHAPATNAM 3 THE CIT (A) VISAKHAPATNAM 4 THE DR ITAT VISAKHAPATNAM. 5 GUARD FILE. BY ORDER SENIOR PRIVATE SECRETARY INCOME TAX APPELLATE TRIBUNAL VISAKHAPATNAM