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TMI Blog2016 (8) TMI 1465X X X X Extracts X X X X X X X X Extracts X X X X ..... view of the ratio laid down in the decisions cited (supra), we find that the order of ld.CIT(A) is wrong and cannot be sustained as registration has been denied for no valid reasons. We ,therefore following the ratio laid down by the above said decisions, set aside the order of ld.Director (Exemption) with a direct to grant registration to the assessee u/s 12A of the Act. - I.T.A. No.1997/Mum/2013 (Assessment Year :NA) - - - Dated:- 22-8-2016 - Shri Shailendra Kumar Yadav, JM And Shri Rajesh Kumar, AM Appellant by: Shri Sanjay R Parikh Respondent by Shri N P Singh ORDER Rajesh Kumar, This is an appeal filed by the assessee and is directed against the order of the Director o ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... The ld. AR submitted that so far as the absence of dissolution clause mentioned in the trust deed of the appellant trust is concerned, the ld. AR relied on the case of CIT V/s Tapagachha Sangh Mota (2015) 59 Taxman.204 (Guj) (ii)Geeta Lalwani Foundation V/s Director of Income Tax Exm) in ITA No.3566/Mum/2013 and as regard the second reason cited for rejection u/s 12A, the ld.AR strongly relied on the decision of Chennai Tribunal in the case of Life Shines Educational and Charitable Trust V/s ACIT (2015) 39 ITR (Trib) 291 (Chennai) and thus submitted that the registration was denied without any cogent reasons. 4. On the other hand, the ld. DR strongly relied on the order of Director (Exemptions) and prayed for upholding the same. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... itable work. Thus, the same is distinguishable. In the present case, assessee is yet to commence its activities and therefore, the assessee cannot be described as undertaking the activities for generating income only. Regarding the dissolution clause noting is brought on record even before us that the Bombay Public Trusts Act, 1950 mandates for incorporation of mandatory clause of dissolution of any irrevocable trust. Therefore, in our opinion, the decision of the DIT (E) rejecting the registration u/s 12A is required to be reversed. Accordingly, grounds raised by the assessee are allowed. 6. So far as the second objection by the Director (Exemption) for rejection of registration of trust u/s 12A is concerned , we are o ..... X X X X Extracts X X X X X X X X Extracts X X X X
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