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2008 (3) TMI 494 - HC - Income TaxRegistration – Question of law - Whether the Income-tax Appellate Tribunal was justified in directing the Commissioner of Income-tax (Administration) to extend the benefit of registration under sections 12A and 12AA of the Act to the assessees - In U. P. Forest Corporation v. Deputy CIT [2007 -TMI - 40389 - SUPREME Court], the apex court expressed the opinion that for claiming the benefit under section 11(1)(a) of the Act, registration under section 12A is a condition precedent - Under the scheme of section 11(1) of the 1961 Act, the source of income must be held under trust or under other legal obligation - In fact, it has been held by the apex court in the case of Gujarat Maritime Board (2007 -TMI - 2489 - SUPREME COURT OF INDIA) that section 12A and section 12AA are in the nature of Explanation to section 11 - Held that the respondent-assessee was a charitable trust and held that it is entitled to registration – The appeal stand dismissed without any order as to costs
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