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2013 (9) TMI 438 - AT - Income TaxExemption u/s 80G of the Income Tax Act – Registration u/s 12AA - Charitable purpose - Person u/s 2(31) - Applicant, a trust or a society – Held that:- Be it a Trust or a Society, the legal status of either is that of a body of individuals and the benefit in either case inures to the same indeterminate public - Moreover, there is nothing on record to show that the management of the Trust has been taken over by the Society, or that the property of the Trust, post registration as Society, belongs to the Society. Undisputedly, the Board of Trustees are the same. The property, as earlier, continues to be held under Trust for pro bono publico or for the benefit of the public. As such, there is no transfer of ownership of property and the assessee continues to be the indeterminate beneficiary and not the Trust. And due to this reason, the ld. CIT has fallen into error in holding that the approval u/s 12A of the Act was granted to the Trust and not to the Society, the Society is not eligible for grant of certificate u/s 80G (5) of the Act - Change over to the status of Society makes no difference in this position and implementation of the objects of the Trust is still a legal obligation to be discharged - Merely registration as a Society does not disentitle the applicant from the exemption claimed - The ld. CIT is directed to grant exemption u/s 80G of the Act to the assessee in accordance with law – Decided in favor of Assessee.
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