S.80G(5)(iv) Exemption allowable as Application Filed within CBDT's Extended Deadline: ITAT rules in Favour of Income Tax Bar Association [Read Order]

The Calcutta ITAT ruled in favor of the Income Tax Bar Association, allowing an exemption under Section 80G(5)(iv) of the Income Tax Act, 1961. The association, established in 1924 and registered under Section 12A, applied for renewal of exemption within the extended deadline set by CBDT. Despite the CIT (Exemption) initially granting a provisional certificate, the application for regular registration was rejected due to timing issues. \r

The ITAT found the CIT’s procedure incorrect, noting that the association met all requirements and had been previously approved under Section 80G(5)(vi). The appeal was allowed, ensuring the association’s continued tax exemption.