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2015 (6) TMI 633 - AT - Income TaxApplication filed by the assessee u/s 12AA rejected - Held that:- In the instant case, in case of dissolution of University, property would go to sponsoring body that itself is registered under section 12AA of the Act, subjected to the relevant provisions of the Act. Undisputedly, the education is included into the definition of charitable purpose as per Section 2(15) of the Act. It is settled position of law that at the time of registration u/s 12AA of the Act, the DIT(E) has to satisfy with regard to the genuineness of activities of the Trust. In our considered view, the DIT(E) ought to have given specific finding with regard to genuineness of the activities of the University. The DIT(E) has rejected the application on the ground that in case of dissolution there is no safeguard to the properties created by the University. There is no finding that the University is not imparting education, or otherwise imparting of such education on the basis of commercial consideration. It is pointed out by the ld. Counsel for the assessee that as per the Gujarat Government Gazette Notification under the provisions of the Gujarat Private Universities Act, 2009, the University cannot run commercially. The ld. DR could not controvert the contention of the ld. Counsel for the assessee that under the identical facts other Universities have been granted registration u/s 12AA by the Revenue. Under these facts, we are of the view that the ld. DIT(E) was not justified in declining the registration to the assessee u/s.12AA of the Income-tax Act, 1961. - Decided in favour of assessee.
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