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2014 (7) TMI 1033 - AT - Income TaxRejection of application for registration u/s 12AA – Held that:- The assessee has furnished copy of Indian Trust Act, 1882 also but he did not point out any relevant provision of this Indian Trust Act, 1882 to establish that this Act is applicable only to private trust and not public trust - the issue should go back to CIT - All the arguments should be made before the CIT and he should give a finding about all the arguments after providing reasonable opportunity of being heard to the assessee - if the CIT finds that the assessee is a valid trust as per the provision of Indian Trust Act, 1882 or as per section 92 of CPC, as claimed by the assessee, then he should give his finding about the objects of the trust and the genuineness of the activities and decide the issue regarding registration of the assessee trust u/s 12AA of the Act - before going into this aspect, objects of the trust and its activities, it is very much essential to see that the assessee is a valid trust because the registration is available only to a trust and specified institutions and not to any other person –the matter is remitted back to the CIT – Decided in favour of Assessee.
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