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TMI Blog2016 (9) TMI 307X X X X Extracts X X X X X X X X Extracts X X X X ..... n its impugned order in detail, the objects of the Trust as declared in the affidavit filed by the 17th Karmapa. It concluded from reading of the various aims and objects that they were charitable in nature. It has been rightly pointed out by the ITAT that it is not necessary that present aims and objects of the Trust should be the same at the time of its establishment. As further rightly pointed out, the stage for examining if the income of the Trust was being applied for its objects would arise only when a return of income is filed by the Trust. The said issue would not affect the grant of registration. Whether the fact that the 17th Karmapa who is the supreme head of the Trust was taking food and clothes and meeting his basic needs ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the ITAT by the Revenue that there is a specific requirement of filing documents for creation of a Trust along with an application for grant of exemption. In the impugned order, the ITAT referred to Rule 17A (a) of the Income Tax Rules, 1962 which itself envisages the possibility of the Trust being created otherwise than under an instrument in which event it is sufficient if the document evidencing the creation of the trust or the establishment of the institution, together with one copy thereof is provided. The proviso to Rule 17A(a) permits the Commissioner to accept even a certified copy in lieu of the original if the instrument or document in original cannot conveniently be produced. It was rightly pointed out by the ITAT that it is ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ary that present aims and objects of the Trust should be the same at the time of its establishment. As further rightly pointed out, the stage for examining if the income of the Trust was being applied for its objects would arise only when a return of income is filed by the Trust. The said issue would not affect the grant of registration. 8. The ITAT also examined whether the fact that the Trust was for the benefit of a particular community would debar it from exemption and registration under Sections 12AA/12A of the Act. The said question was, and in the view of this Court rightly, answered in the negative. In particular the Court concurs with the conclusion of the ITAT that It is now well-settled that an object beneficial to a sectio ..... X X X X Extracts X X X X X X X X Extracts X X X X
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