PANKAJ MITHAL,J. - (1.) Heard Sri Praveen Kumar, learned counsel for the Income Tax Department and Sri Ashish Bansal for the respondent assessee.
(2.) The respondent assessee is a registered society under the Societies of Registration Act, 1860. The aforesaid Society is running a Dental College and Research Centre. It was granted exemption under Section 80 G of the Income Tax Act, 1916 (hereinafter referred to as the Act) which was valid only upto 31st March 2004. The assessee respondent applied for renewal of the exemption under Section 80 G (5) of the Act on 28.4.2004. The said application has been rejected by the Commissioner by an order dated 29.4.2011 inter alia on one of the grounds that during the search and seizure operations an unaccounted cash amount of Rs. 11.25 lacs was recovered and as such the assessee respondent was not properly maintaining its books of accounts. Accordingly, the respondent assessee does not satisfies condition (iv) of Section 80 G (5) of the Act.
(3.) The aforesaid rejection order was challenged by the assessee respondent before the Income Tax Appellate Tribunal who allowed the appeal and held that the assessee respondent is entitled for approval of exemption under Section 80 G (5) of the Act vide order dated 21.8.2014 as it satisfies all conditions under Section 10 (23 C) of the Act.;