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2015 (1) TMI 1368 - AT - Income TaxRegistration u/s 12AA(e)(iv) r.w.s 12A rejected - absence of "dissolution clause" in trust deed - Held that:- We find the judgment of the Hon‟ble Kerala High Court in the case of Self Employers Service Society (2000 (9) TMI 47 - KERALA High Court) is decided on the facts of the said trust generating the income and not undertaking any charitable work. Thus, the same is distinguishable. In the present case, assessee is yet to commence its activities and therefore, the assessee cannot be described as undertaking the activities for generating income only. Regarding the dissolution clause noting is brought on record even before us that the Bombay Public Trusts Act, 1950 mandates for incorporation of mandatory clause of dissolution of any irrevocable trust. Therefore, in our opinion, the decision of the DIT (E) rejecting the registration u/s 12A is required to be reversed. Accordingly, grounds raised by the assessee are allowed.
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