9911796707
TMI Blog2018 (3) TMI 1408X X X X Extracts X X X X X X X X Extracts X X X X ..... g the order u/s 12AA(1 )(b)(ii) of the Income Tax Act for rejection of Application to grant registration of Trust u/s 12AA of Income tax Act, 1961. 2. The Statement that books of Account were not produced by Ld. CIT (Exemption) is not correct. 3. The version of Ld. CIT (Exemption) that Trust is engaged in money laundry activities is not correct. 4. The findings of Ld. CIT (Exemption) that the trust is not carrying out any Charitable activities is not correct." 2. Briefly stated the facts necessary for adjudication of the controversy at hand are : Ld. CIT (Exemptions) declined the registration sought for by the assessee Trust under section 12A (1) of the Income-tax Act, 1961 (for short 'the Act') on the grounds inter alia that the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ess regarding population control & creating awareness regarding environment. It will establish and maintain parks, gardens and other use of public in general. The trust will provide relief during natural calamities, such as rain, earth quake, flood, fire and other occasions of calamities of similar nature." 6. When we examine the aims and objects of the assessee Trust in entirety it goes to prove that the Trust is primarily constituted with prime aim and object of development of education in all areas of society by establishing the school, institutes of Engineering, Management, Law and medical institute; that the trust will also help poor by providing them scholarship to students, books and uniforms, stipend and medical help to poor; t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... stablish the educational institution and brought on record the sale deeds and also brought on record the complete detail of the construction work-in-progress being carried out by the assessee Trust and also brought on record copies of the bank ledger of the assessee Trust showing its complete income and expenditure, there is no material on record to dispute the same at the juncture of according registration u/s 12A of the Act rather all these apprehensions raised by CIT can be taken care of by the AO at the time of assessment and as such are beyond the purview of CIT (Exemptions). 9. Coordinate Bench of the Tribunal in case of Vidyadayani Shiksha Samiti vs. CIT (Exemptions)-5, Lucknow in ITA No.309/Del/2016 dated 14.12.2017 examined the po ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e claim of registration by holding that at this stage on granting registration u/s 12A the ld. CIT is required to see the objects of the society and not required to examine the application of income which will have to be undertaken by the Assessing Officer on a year to year basis after the assessee files the return of income claiming exemption u/s 11 of the I.T. Act." 10. In view of what has been discussed above, we are of the considered view that when the assessee Trust has brought on record all the necessary documents to achieve the aims and objects of the assessee Trust enshrined in its memorandum of articles and undisputedly is into charitable activities by establishing educational institutions, merely denying the registration on the ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
