Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2017 (8) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2017 (8) TMI 1327 - AT - Income TaxRegistration u/s 12AA and application for approval u/s 80G denial - CIT(Exemptions)'s power refusal to the registration - Held that:- CIT(Exemptions) can refuse the registration of a trust of institution u/s 12AA of the Act only when (a) he should be satisfied that the objects of the trust or institution are not charitable in nature or he finds that the activities of the trust of institution are not genuine. In our view registration cannot be denied on the ground that there is no clause prescribing that as dissolution of the institution, the income and assets of the assessee shall be transferred to another similar institution which is registered under section 12AA of the Act. Thus we hold that the order of ld. CIT(Exemptions) was an error in rejecting the application of the assessee for registration u/s 12AA of the Act. We are also convinced with the arguments the assessee that section 115TD(1)(a) of the Act protects the interest of the revenue and the findings of the ld. CIT(Exemptions) on this issue is not correct. In view of the above discussion we direct the ld. CIT(E) to grant registration to the assessee u/s 12AA of the Act. Consequently we also direct the ld. CIT(E) to grant approval u/s 80G of the Act to the assessee university.
|