Y-Axis Foundation, Hyderabad V. Commissioner of Income Tax, (Exemptions), Hyderabad

ITA 2358/Hyd/2018

• Counselvise Citation: [2021] 108 COUNSELVISE.COM (IT) 1453 (ITAT-HYDERABAD)
• Duration Of Justice: 2 year(s) 6 month(s) 8 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 29-06-2021
• Appeal Filed By: Assessee
• Order Result: Allowed
• Bench Allotted: DB-A
• Next Hearing Date: 01-06-2021
• Assessment Year: misc
• Appeal Filed On: 21-12-2018
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Department Lawyers: ASHOK KARDAM
• Section: 80G; 12AA

Judgement Text

IN THE INCOME TAX APPELLATE TRIBUNAL HYDERABAD A BENCH, HYDERABAD. BEFORE SHRI S.S. GODARA, JUDICIAL MEMBER AND SHRI L . P . SAHU, ACCOUNTANT MEMBER (THROUGH VIRTUAL HEARING) ITA NO. 2358 /HYD/20 18 M/S. Y - AXIS FOUNDATION, HYDERABAD. PAN AADCH 5657A ..APPELLANT. VS. COMMISSIONER OF INCOME TAX (EXEMPTIONS) , HYDERABAD. ..RESPONDENT. APPELLANT BY : SHRI Y. RATNAKAR. RESPONDENT BY : SHRI ASHOK KARDAM (D.R.) DATE OF HEARING : 01.06. 2021. DATE OF PRONOUNCEMENT : 29 .0 6 .2021. O R D E R PER SHRI S.S. GODARA, J.M. : THIS ASSESSEES APPEAL ARISES FROM THE COMMISSIONER OF INCOME TAX ( EXEMPTION S), HYDERABAD S ORDER DT. 27.09.2018 PASSED IN CASE NO. CIT(E)/HYD/ 7 0(03)/80G/2017 - 18 IN PROCEEDINGS UNDER S ECTION 80G OF INCOME TAX ACT, 1961 (THE ACT). HEARD BOTH THE PARTIES . C ASE FILE PERUSED. 2 ITA NO. 2358/HYD/2018 2. WE NOTICE AT THE OUTSET THAT THE LEARNED CIT (EXEMPTION) ORDER UNDER C HALLENGE HAS DECLINED THE ASSESSEE'S 80G(5)(VI) REGISTRATION BY REITERATING HIS EARLIER ORDER DT.20.09.2017 FOR THE SOLE REASON THAT IT HA D BEEN GRANTED 12AA REGISTRATION IN THE NAME OF KNOW MORE SCHOOL FOUNDAT ION ONLY. A ND THAT IT HAS NOT FILED ANY DOCUMENT TO SHOW INDICATING CHANGE IN THE NOMENCLATURE TO THIS EFFECT. 3. LEARNED COUNSEL ONLY CASE DURING THE COURSE OF HEARING THAT THE ASSESSEE UNDERTAKES TO FILE ALL THE RELEVANT MATERIAL FOR THE FOREGOING MODIFICA TION S BEFORE THE CIT (EXEMPTION ) IF GRANTED ONE MORE EFFECTIVE INNINGS . L EARNED DEPARTMENTAL REPRESENTATIVE HAS STRONGLY SUPPORTED THE LEARNED CIT(E)S IMPUGNED ORDER. 4. FACED WITH THIS SITUATION, WE DEEM IT APPROPRIATE TO RESTORE THE ASSESSEE'S INSTANT SOLE GRIEVANCE BACK T O THE CIT(E) FOR HIS AFRESH ADJUDICATION AS PER LAW QUA THE SOLE ISSUE OF CHANGE IN NAME FROM KNOW M ORE S CHOOL FOUNDATION TO Y AXIS F OUNDATION IN THE INTERVENING PERIOD. IT IS MADE CLEAR THAT ASSESSEE SHALL APPEAR BEFORE THE CIT(E) ON OR BEFORE 31.10.20 21 WITH ALL THE RELEVANT DETAILS ; AT ITS OWN RISK AND RESPONSIBILITY , TO BE FOLLOWED BY THREE EFFECTIVE OPPORTUNITIES OF HEARING. ORDERED ACCORDINGLY. 3 ITA NO. 2358/HYD/2018 4.1 DELAY OF 11 DAYS IN FILING IS CONDONED IN VIEW OF THE REASONS STATED IN CONDONATION PETITION. 5. THIS ASSESSEE'S APPEAL IS ALLOWED FOR STATISTICAL PURPOSES IN FOREGOING TERMS. ORDER PRONOUNCED IN THE OPEN COURT ON 29TH JUNE , 2021. SD/ - SD/ - (L .P. SAHU) (S.S. GODARA) ACCOUNTANT MEMBER JUDICIAL MEMBER HYDERABAD, DT. 29 .0 6 .2021. * REDDY GP COPY TO : 1. M/S. Y AXIS FOUNDATION, 102, GS CHAMBERS, PANJAGUTTA, HYDERABAD. 2. CIT(E), HYDERABAD. 3. ADDL . C I T (EXEMPTIONS) , HYDERABAD. 4. ITO(EXEMPTIONS) - 4, HYDERABAD. 5. DR, ITAT, HYDERABAD. 6. GUARD FILE. BY ORDER SR. PVT. SECRETARY, ITAT, HYDERABAD.