Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2021 (8) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2021 (8) TMI 508 - ITAT BANGALOREAssessment u/s 11 - registration u/s 12AA - Charitable activity u/s 2(15) - HELD THAT:- We are of the considered view inter alia that when charitable objects to be undertaken by the assessee trust are not in dispute, assessee company cannot be expected to start its charitable activities within a period of about 2 months; that to get the benefit of sections 11 & 12 of the Act, registration u/s 12AA is necessary; that so far issue as to paying remuneration of ₹ 40,000/- to one of its Directors is concerned it can be decided during the assessment proceedings while examining the benefit u/ss 11 & 12 of the Act, the impugned order passed by the ld. CIT (E) is not sustainable in the eyes of law. CIT(E) is not required to look into the activities at the stage of registration, which can be well taken care of by the AO during the assessment proceedings and at this stage, only genuineness of the objects has to be examined by the ld. CIT(E) which he has not disputed in this case. So, impugned order passed by the ld. CIT (E) is set aside. Consequently, the appeal filed by the assessee is allowed directing the ld. CIT (E) to accord registration u/s 12AA of the Act to the assessee.
|