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2013 (1) TMI 537 - HC - Income TaxRegistration u/s 12A – Trust - Charitable activities – Trust was created on 23.6.2010 - Application u/s 12A(1) (aa) was moved on 19.7.2010 - Same was rejected on 26.11.2010 - Held that:- Following the decision in case of Surya Educational & Charitable Trust (2011 (10) TMI 47 - PUNJAB AND HARYANA HIGH COURT) that the application for registration is required to be made within one year of the creation of the Trust and there is no requirement that the Trust or the institution should have started all its envisaged activities in the first year itself. Under Section 12AA of the Act satisfaction regarding the genuineness of the activities of the Trust is to be seen and the stage for application of income is yet to arrive i.e. when such Trust or Institution files its return. The object of Section 12AA, is to examine the genuineness of the objects of the Trust, but not the income of the Trust for charitable or religious purposes The Trust was not set up for charitable purposes and it was utilizing its income not for the said purpose cannot be examined at this stage as only objects of the Trust had to be considered by the Commissioner. The Trust was in nascent stage and was yet to work towards its objects. No substantial question of law - Decides against revenue
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