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2015 (6) TMI 922 - AT - Income TaxRegistration under 12AA rejected - the objectives of the Trust are not charitable in nature, merely because the objectives included the words “consultancy, investment advisory and an investment agency - Held that:- Remit the issue back to the file of the DIT (E) to consider de novo and give an opportunity to the assessee who shall amend the present objects of the Trust with specific objects towards Research and Development and also DIT (E) shall verify whether assessee has deleted the clause which enable the assessee to carry on activities outside India. The DIT (E) shall decide the issue after perusing the amended objects of the Trust Deed in accordance with law. - Decided in favour of assessee for statistical purposes.
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