9911796707
TMI Blog2014 (11) TMI 355X X X X Extracts X X X X X X X X Extracts X X X X ..... led by the Revenue as against the order of the Income Tax Appellate Tribunal raising the following substantial question of law: "Whether on the facts and in the circumstances of the case, the Tribunal was right in holding that the assessee is entitled for registration under Section 12AA?" 2. The respondent - trust, which was formed by a trust deed executed on 18.01.2010, filed an application und ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... in details of the property gifted to the trust along with the relevant particulars including income and expenditure statement, balance sheet etc. 3. The Original Authority was of the view that though the gift deed was registered on 04.02.2010, the property was handed over to the corpus of the trust only on 26.5.2011 and the trust has not shown any diligence in taking over the property. Having bro ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ration. Aggrieved by the same, the Revenue has filed the present Tax Case (Appeal). 4. Heard Mr.J.Narayanasamy, learned standing counsel appearing for the Revenue and perused the materials placed before this Court. 5. We find that the reasons given by the Original Authority to decline registration is trivial and does not sub-serve the cause of a charitable trust, which seeks registration under S ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... eason as we could see from the order of the original authority is not on account of the nature of the activity of the trust, but on a ground that the property donated was registered on 04.2.2010, but taken over physical possession only on 26.5.2011. We find that such a reasoning is totally misconceived. As we have already observed, the donee cannot make conditions or call upon the donor that he sh ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
