2018 (7) TMI 2020 - SCH - Income Tax

Registration and exemption u/s 12-AA and 80-G(5) denied - assessee has not spent 85% of its income and furthermore has produced unreliable balance sheet and two separate list of donors which remained un-reconciled and no evidence regarding any charitable activity under taken - ITAT granted exemption as found that the assessee was set up to achieve its object of establishing educational institution or trust, which activity per se is a charitable purpose under Section 2(15) - HELD THAT - Delay condoned. Leave granted.

Summary

The Supreme Court of India in 2018 (7) TMI 2020 granted leave in a case tagged with Civil Appeal No. 5103/2012 after condoning the delay. The petitioner was represented by Mr. A.N.S. Nadkarni, ASG, Ms. Rukhmini Bobde, Adv., Ms. Swarupama Chaturvedi, Adv., and Mrs. Anil Katiyar, AOR. The respondent did not have representation.