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Mere Fulfillment of Conditions u/s 10(23)(c) of IT Act would not make Assessee Eligible for benefit of S. 80G

In CIT v. M/S Rama Educational Society, the division bench of the Allahabad High Court held that benefit of section 80G of the Income Tax Act cannot be granted to assessee merely on ground that it satisfies all the conditions prescribed under section 10(23)(c) of the Income Tax Act.

While quashing the ITAT order, the bench confirmed the order of the CIT denying exemption to the assessee for want of regular maintenance of Books of Accounts. Respondent-assessee, a society running a Dental College and Research Centre had availed exemption under s. 80 G of the IT Act. On expiry of the exemption, they made an application for renewal of the same.

However, the Commissioner rejected the application on grounds that the department recovered and seized unaccounted cash amount belongs to the assessee during a search and the assessee was not properly maintaining its books of accounts. He was of the opinion that the exemption is not available to the assessee as they does not satisfies condition (iv) of Section 80 G (5) of the Income Tax Act.

Article referred: http://www.taxscan.in/mere-fulfillment-conditions-us-1023c-act-not-make-assessee-eligible-benefit-s-80g-allahabad-hc/8079/

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