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TMI Blog2023 (9) TMI 749X X X X Extracts X X X X X X X X Extracts X X X X ..... mmissioner is bound to consider whether the objects of the trust are charitable in nature and whether the activities which the trust proposed to carry on are genuine in the sense that they are in line with the objects of the trust. For the above preposition we drawn support from the decision of the Hon ble Supreme Court in the case of Anand Social And Educational Trust [ 2020 (2) TMI 1293 - SUPREME COURT ] Incidentally we find that on the same set of facts the PCIT has granted registration to the assessee for A.Y.2022-23 to 2026-27 as per the order. Decided in favour of assessee. - Shri N.K. Billaiya, Accountant Member, And Shri Kul Bharat, Judicial Member For the Assessee : Shri K. R. Chhabra, Advocate For the Departmen ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... come of the Trust/ Society/ Non Profit Company enures, directly or indirectly for the benefit of any person specified in section 13(1)(c) of the Income Tax Act, 1961 and that no part of the income or property of the Trust/Society/Company was ever used or applied for the benefit of any person specified in section' 13(1 )(c) of the Income Tax Act, 1961, duly signed by the Authorized Signatory. 4. Please attach a No Objection Certificate1 from the owner of the premises from which you are operating along with proof of his ownership. 5. Please attach details of donations made since inception/ during last three years. 6. Please attach details of donations received, including corpus donation, received since inception/ during la ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... sons making voluntary contributions. 14. Details of Land Building purchased during last three years alongwith the copies of registration of the same in the name of society. 15. Proof of the ownership of land/building /fixed assets in case the same was owned by the society/trust. 16. Copies of I.T. Returns for last three Asst. Years along with computation of Income. 17. Details of corpus fund and whether the same were with any specific written directions. 18. Copy of Receipt Payment Account of the entity for last three years along with the coorboration of the same with bank account. 19. Copies of the statements of all bank accounts maintained by the trust or by trustee/members for the last 03 years or since ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Rejecting the application of the assessee the CIT(E) observed that the grants / funds received from the Government of Haryana is income of the assessee. 8. Before us, the Counsel for the assessee vehemently stated that the impugned grants are nothing but capital receipts and, therefore, were directly credited to the reserves and surplus in the balance sheet. The Counsel further stated that the gross receipts of the society is also less than Rs. 1 crore and, therefore, it is eligible for exemption u/s. 10 (23C) (iiiad) of the Act and the CIT (E) has added grants / funds of two financial year. 9. We have given a thoughtful consideration to the order of the CIT (Exemption). In our considered view section 12AA of the Act empowers the PCIT ..... X X X X Extracts X X X X X X X X Extracts X X X X
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