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2015 (4) TMI 1205 - AT - Income TaxRegistration U/s 12AA rejected - treating the application for registration u/s 12AA as time-barred - Held that:- Where application is made after first day of June 2007 then the benefit of sections 11 & 12 is available only with reference to the assessment year immediately following the financial year in which such application is made. This means that the benefit of sections 11 & 12 is not available to the earlier years for which the application is made. Therefore, in view of the above clear legal position and also concession made by Ld. Counsel for the assessee, the additional ground raised by the assessee is dismissed. As far as the other grounds are concerned, we find that it is settled law that at the time of registration, the concerned authority is required to examine only the aims and objects of a particular institution and if the same are found to be of charitable nature, the registration should be granted. The other issue like non audit of accounts, non application of 85% of the funds for charitable purposes etc. can be examined only at the time of assessment when exemption is being granted u/s 11 & 12 of the Act. In the case before us, the Ld. Commissioner has not recorded any findings, how the objects of the assessee are not charitable. He has considered various other issues like non audit of accounts, the non application of 85% of the funds for charitable activities etc. which are not relevant for grant of registration, therefore, in the interest of justice, we set aside the order of Ld. Commissioner and remit the matter back to the file of Ld. Commissioner for reexamination of the issue and decide the same in accordance with law.
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