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TMI Blog2020 (3) TMI 784X X X X Extracts X X X X X X X X Extracts X X X X ..... Shri Avinash Gaur, Adv ORDER PER MANISH BORAD, AM The above captioned appeal filed at the instance of the assessee is directed against the orders of Ld. Commissioner of Income Tax (Exemption) (in short Ld.CIT(A) ], Bhopal dated 29.8.2018. 2. Assessee has raised following grounds of appeals; 1.The learned Commissioner of Income Tax (Exemption) erred in rejecting the application made for approval under section 10(23C)(vi) of the Income Tax Act. 2.The learned Commissioner of Income Tax (Exemption) rejected the application for approval under section 10(23C)(vi) just on the basis that registration under section 12AA of the Income Tax Act has already granted to the assessee. 3.The learned Commissioner of Income Tax (Exemption) without pinpointing any defect in the objects of the assessee, proceeded to the rejection the application filed for approval under section 10(23C)(vi) of the Income Tax Act. 4. The rejection of application is unlawful and needs to be deleted. 5.The appellant craves leave to add, alter and for delete any of the grounds of appeal. 3. At the outset Ld. Counsel for the assessee submitted that the issues raised in this app ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... d by the Tribunal observing as follows:- 10. We have heard rival contention and perused the records placed before us. The assessee society was registered on 29.09.2015 with the following objects; (i) To provide the facilities of first class public school (ii) To work for promotion of science, education, literature or fine art (iii) To work for foundation or maintenance of libraries (iv) To work in the field of water conservation, rain harvesting, creating new water bodies, development of rural urban water supply system, rehabilitation of water bodies, village upli ftment and development of a model village. (v) To work in the field of education and training (vi) To work in the field of environment (vii) in the field of Mahila and Bal Vikas and Panchayat and Samaj kalian and ancillary work to other social welfare activities. (viii) To do all or any of the above things either alone or in conjunction with others and to do all other such things as the society may consider necessary, incidental or conducive to the attainment of the above objects. 11. We have also observed that the assessee society enjoys the registration u/s 12AA of the Ac ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... activities. The date of commencement is 01.06.2016. 5.That year wise details of deposits/loan! advances given during the year 2015-16 to 2016-17 is enclosed herewith. That no loan has been given by the assessee and also no interest has been charged by the assessee. Details and copies of ledger account are enclosed herewith. 6. That consolidated chart of profitability in the format as required and details are enclosed herewith. 7. That there is fixed deposit held with the bank by the assessee and Details chart are enclosed herewith. 8.(a) and (b). That the assessee has not entered for the F.Y. 2015-16 to 2016-17 with members/office bearers/founder members and persons related to them. 9.That the details of the business concern where the founder members or office bearers are either proprietor or partner or director or having substantial interest is enclosed herewith. And the assessee has not entered any transactions with such concerns. 10. That the assessee has not received any donations during the period 2015-16 to 2016-17 and therefore not applicable. That the fees structure of the school operated by the assessee is enclosed herewith. 11.That the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... . We observe that Central Board of Direct Taxes vide Circular No.14 of 2015 dated 17.8.2015 with the subject of clarification on certain issues related to grant of approval in case of Section 10(23C(vi) of the Act clarified on the issue about the necessity for registration u/s 12AA while seeking approval/claiming exemption u/s 10(23C)(vi) of the Act (which is the exact case of the assessee). The relevant portion of the circular dealing with this issue is reproduced below:- 2. Necessity for registration u/s 12AA while seeking approval/claiming exemption u/s 10(23C)(vi) 2.1 Section 10(23C)(vi) does not prescribe any stipulation which makes registration u/s 12AA a mandatory pre or post condition, In fact, provisions of section 11 and 10(23C) are two parallel regimes and operate independently in their respective realms although the compliance criteria may be common to both. Hence obtaining prior registration before granting approval u/s 10C23e) cannot he insisted upon.. 2.2 However, in case of a trust or an institution having obtained registration u/s 12AA as well as approval u/s l0(23C)(vi), if registration is withdrawn at some point of time clue to certain adverse fi ..... X X X X Extracts X X X X X X X X Extracts X X X X
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