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2018 (7) TMI 2053 - HC - Income TaxExemption u/s 11 - Absence of “Dissolution Clause” in the Trust Deed - net assets of the Trust on its dissolution would be transferred to any entity / distributed among the trustees thus defeating the very purpose of Registration u/s 12AA - HELD THAT:- Issue raised herein stands concluded against the Revenue and in favour of the respondent assessee by the decisions of this Court in CIT (Exemptions) Vs. Tara Educational & Charitable Trust [2017 (8) TMI 377 - BOMBAY HIGH COURT] Appeal admitted on substantial question (ii) - Whether Tribunal was right in holding that the assessee is entitled to Registration u/s 12A ignoring the fact that as per Section 12AA(b) of the I.T. Act, 1961, registration is to be granted only where the CIT is satisfied about the genuineness of the activities of the Trust and the genuineness of the activities can be judged only when some activities are actually under taken in pursuance of its objects ?
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