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2017 (12) TMI 1540 - ITAT LUCKNOWRejection of application for granting registration under section 12AA - Whether the income derived by the trust is spent for charitable purposes or whether the trust is earning profit or not? - Held that:- As the case of the present assessee is concerned, it was a new trust and all the details as sought by the Department were duly submitted and even trust deed was filed wherein the objects of the trust were clearly mentioned. When these criteria are complied with, then registration under section 12AA ought to have been granted to the assessee. We, are of the considered view that in the instant case registration under section 12AA of the Act should be granted to the assessee once as per object clause the genuineness of the activities of the trust is established. Thus we direct CIT (Exemptions) to grant registration to the assessee trust under section 12AA of the Act. - Decided in favour of assessee.
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