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2013 (2) TMI 605 - AT - Income TaxBenefit of registration u/s 12AA (1)(b)(ii) disallowed - certificate of exemption under section 80G(5) was also denied - Held that:- It can be construed that the case of the assessee trust is squarely covered by the law laid down by Foundation of Ophthalmic & Optometry Research Education Centre [2012 (8) TMI 777 - DELHI HIGH COURT] as perusal of the order passed under section 12AA shows that CIT has not commented on the objects of the Trust. The CIT after examining the statement of accounts formed an opinion that since no expenditure towards any charitable activity is shown in the statement of accounts, therefore carrying out of genuine charitable activities is absent in this case. It would be relevant to mention here that the trust was formed on 11.1.2012, the application for registration under section 12AA was submitted by the appellant on 27.3.2012 i.e. within a period of three months of its creation. The school activities started in June, 2012, the appellant submitted its books of accounts upto September, 2012 before CIT. The CIT after examining the statement of accounts for such a short period, formed its opinion that the activities of trust are not charitable in nature. The CIT has not raised any objection on the objects of the trust. In our considered opinion, it was premature for CIT to judge the activities of the Trust by just glancing through the statement of accounts of the trust of such a short period. Therefore, set aside the order of the CIT and direct the CIT to grant registration to the assessee trust under section 12AA. Consequent to the registration under section 12AA also direct the CIT to consider the application of the assessee for grant of initial certificate of exemption under section 80G(5) - in favour of assessee.
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