Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2013 (3) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2013 (3) TMI 624 - ITAT CHENNAIRegistration u/s 12AA denied - refusing to grant registration as the assessee Trust is formed for doing both charitable and religious activities therefore, not qualified for registration and also that the assessee Trust though came into existence on 13.8.2010, no activity has been started - Held that:- The income derived from the property held under trust wholly for charitable or religious purposes, shall not be included in the total income of the Trust. Therefore, the said provision would be applicable to both the Trusts established with the object of charitable as well as religious purposes Therefore, Section 12AA of the Act does not make any difference between the Trusts created with the object of charitable and religious purposes and, even if the Trust is not created with both the objects, law does not make any disqualification for the trust to make an application for registration. Therefore, the Tribunal has correctly applied the provision of law and allowed the appeal, which finding is based on valid material evidence. See CIT v. Arulmigu Sri Kamatchi Amman Trust [2012 (2) TMI 159 - MADRAS HIGH COURT] We also find that Hon'ble Gujarat High Court in the case of CIT v. Kutchi Dasa Oswal Moto Pariwar Ambama Trust (2012 (12) TMI 876 - GUJARAT HIGH COURT) held that registration under sec.12AA of the Act should not be refused on the ground that the activities of the Trust have not commenced. In view of the above, we direct the DIT(E) to grant registration under sec.12AA of the Act to the assessee Trust. - Decided in favour of assessee.
|