9911796707
TMI Blog2019 (5) TMI 1201X X X X Extracts X X X X X X X X Extracts X X X X ..... red by the revenue under Section 260A of the Income Tax Act, 1961 (in short "the Act") against the order dated 30.4.2013 (Annexure A-3) passed by the Income Tax Appellate Tribunal, Delhi Bench 'E', New Delhi (hereinafter referred to as "the Tribunal") in ITA No. 5075/Del/2012. The appeals were admitted by this Court vide order dated 13.5.2015 for determination of the substantial questions of law as raised in para 15 of the appeals which are as under:- ITA-291-2014 (i) Whether on the facts and in the circumstances of the case, the learned ITAT was right in law in allowing the exemption under Section 11 of the Act which was disallowed by the AO as the assessee had not applied 85% of additional income of Rs. 80,01,470/- to charita ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e noticed. The assessee was granted registration under Section 12AA of the Act by the Commissioner of Income Tax, Faridabad. A search and seizure operation under Section 132 of the Act was conducted at the official premises of the assessee as well as the residential premises of the trustees on 4.8.2005. During the course of search, unexplained assets as well as incriminating documents were seized. The proceedings under Section 12AA(3) of the Act were initiated. The Commissioner of Income Tax (Central), Ludhiana [in short "the CIT(C)"] vide order dated 30.1.2008 cancelled the registration granted to the assessee under Section 12AA of the Act. A corrigendum was issued vide order dated 1.5.2008 by the CIT (C), Ludhiana to make the order under ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e Tribunal. Hence, the present appeals by the revenue. 4. We have heard learned counsel for the parties. 5. The Tribunal while allowing the appeal bearing ITA No. 5075/Del/2012 as impugned by the revenue in ITA-291-2014 had noticed that since the assessee had been granted registration under Section 12AA of the Act, therefore, its income had to be computed by giving benefit of Sections 11 and 12 of the Act. The assessee had fulfilled the conditions as provided in Sections 11 and 12 of the Act. In the regular assessment, the income of the assessee was determined at nil. The relevant findings recorded by the Tribunal read thus:- "On due consideration of the facts and circumstances, we are of the opinion that assessee has been granted re ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nuation of registration could be denied to the assessee as the additions made by the Assessing Officer were deleted. The CIT, Central, Ludhiana, vide order dated 30.11.2008 after considering the activities of the assessee as genuine and the objectives as charitable had granted the registration w.e.f. assessment year 2008-09. The Tribunal following the decision of the Tribunal for the assessment year 2005-06 had allowed the appeal by noticing as under:- "The registration of the assessee trust was cancelled vide order u/s 12AA(3) dated 23.12.2010, restoring the earlier order dated 31.1.2008 made effective from 1.10.2004. Now the Hon'ble ITAT has held that there was nothing on record on the basis of which the registration could be conti ..... X X X X Extracts X X X X X X X X Extracts X X X X
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