9911796707
TMI Blog2018 (12) TMI 125X X X X Extracts X X X X X X X X Extracts X X X X ..... .85 crores neither impinged on the objects nor the genuineness of the activities of the assessee. The object of the society is 'To Promote the Quality and Scope of Education in Rural Area and Manage the affairs of Sadhu Singh Rural Public School, Mukand Pur.' Therefore, the contention of the assessee that the corpus got created from such donations as received for the setting up of the school, had not been rebutted by producing any material to the contrary on record. Regarding creation of assets, the Tribunal had recorded nothing had been brought on record to show that the assets of the assessee were meant for any purposes other than its aims and objects which included managing the affairs of the school and that as per the balance sh ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... perverse in holding that non filing of return of income is not a valid ground to deny registration u/s 12AA of the I.T. Act, 1961 when the CIT is fully empowered u/s 12AA(1)(a) to call for such documents to satisfy himself about the genuineness of the activities of the applicant. Whether the term 'such documents' would not include returns of income for the purpose of determination of genuineness of activities of a Trust? III. Whether on the facts and circumstances of the case, the powers conferred u/s 12AA(4) inserted w.e.f. 1.10.2014 cannot be exercised by the CIT while granting registration u/s 12AA(1) even when the evidence adduced during proceedings, reveals infraction of statute? IV. Whether on the facts and cir ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r dated 7.3.2017 (Annexure A-2) allowed the appeal and directed the CIT(E) to grant registration to the appellant-society forthwith, i.e. from the date of application. Hence, the present appeal by the revenue. 3. After hearing learned counsel for the parties, we do not find any merit in the appeal. 4. The Tribunal has noticed that the assets of the assessee, i.e., its land and building etc. had been created out of the donations received for the setting up of the school of the society and the objection of the CIT(E) that the assessee had amassed capital funds to the tune of ₹ 5.59 crores and fixed assets to the extent of ₹ 5.85 crores neither impinged on the objects nor the genuineness of the activities of the assessee. The ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... and and building etc., have been created out of donations received for the setting up of the school of the society. As per Object (APB-1), as set out in the Memorandum of Association of the applicant society, the applicant is To Promote the Quality and Scope of Education in Rural Area and Managed the Affairs of Sadhu Singh Rural Public School, Mukand Pur . In its reply (APB 23-29) (Dated 12.08.2016) to the Questionnaire (APB 21-22) (Dated 04.08.2016) the applicant stated that the details of donations received were being Annexed. The contention that the corpus got created from such donations received for the setting up of the school, has not been rebutted based on anything to the contrary on record. And be that as it may, the fact remains t ..... X X X X Extracts X X X X X X X X Extracts X X X X
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