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TMI Blog2025 (3) TMI 139X X X X Extracts X X X X X X X X Extracts X X X X ..... fect that the funds are idle in FDRs in banks and as such, they are not being utilized for the objects of the assessee trust is not justified. In this connection, it is relevant to note here that the Tiger is a National Animal of India. Already the number of Tigers in India is in alarming/depleting level/status. Therefore, if any trust like the assessee-trust in the instant case, come forward to protect, conserve and do research on the Tigers to increase it's number, such activities of the trust shall be encouraged. Thus, we find that the assessee society is utilizing it's funds to meet out it's objects and the CIT(E), Pune in his order is not justified in cancelling the approval granted to the assessee trust. Appeal of the assessee trus ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... h FCRAs and further the assessee trust failed to furnish satisfactory reply in respect of larges funds i.e Rs. 82,65,467/- out of total assets of Rs. 1,00,35,798/- lying idle year-to-year in bank accounts/FDRs without it's actual utilization and, therefore, the learned CIT (E) cancelled the approval to the assessee trust. 3. Aggrieved by the order of the learned CIT(E), the assessee carried the matter in appeal before the Tribunal. 4. During the course of hearing, Learned Counsel for the Assessee, submitted that since the learned CIT(E) did not found fault with the activities of the submitted on 08.03.2024 for the purpose of registration u/sec. 12AB of the Act, as per order of the CIT dated 20.03.2024, assessee- trust has valid registrati ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... m 01.04.2024 and 80G approval was also granted for earlier years from 01.04.2007. Further, the assessee trust has valid registration u/sec.12AB of the Act up-to assessment year 2026-2027 which is placed at pages 3 to 5 of the paper book. It is also evident that the assessee trust has got 80G approval w.e.f. 01.04.2007 as per Form No.10A [e-filing] placed at page-80 of the paper book. Further, the assessee trust has valid date of approval 02.10.2021 u/sec.80G of the Act up-to assessment year 2026-2027 which is placed at pages 18 and 19 of the paper book. The assessee trust has also placed on record at pages 13 of the paper book with respect to details of FCRA funds utilization for assessment years 2021-22 to 2023-24 contending, inter alia, t ..... X X X X Extracts X X X X X X X X Extracts X X X X
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