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2014 (3) TMI 1178 - AT - Income TaxWithdrawal of exemption granted u/s 12AA - Charitable activity u/s 2(15) - As pointed out by assessee that the Trust was formed under the Punjab Town Improvement Act for the improvement of a particular area and even the charges were settled by the Punjab Government and the assessee could not take charges beyond the same and hence, no income arising to the assessee - HELD THAT:- The assessee Trust before us is the Improvement Trust, Malerkotla and the facts of the present case are identical to the facts of Improvement Trust, Bathinda which is also formulated under the Punjab Town Improvement Trust Act. As fairly admitted by assessee during the course of hearing that the appeals in the case of various Improvement Trusts under the amended provisions of section 2 (15) of the Act w.e.f. 01.04.2009 were pending before the Hon' ble Punjab & Haryana High Court. As the facts of the present case are identical to the facts before the Amritsar Bench of the Tribunal in Improvement Trust, Bath inda Vs CIT, Bathinda [2013 (2) TMI 577 - ITAT AMRITSAR] and following the same parity of reasoning, we uphold the order of Commissioner of Income Tax in withdrawing the registration granted to the assessee under section 12AA. In view of the ratio laid down by the Hon'ble Jammu & Kashmir High Court in the case of Jammu Development Authority Vs Union of India & another [2013 (11) TMI 1578 - JAMMU AND KASHMIR HIGH COURT] and Amritsar Bench of Tribunal in Improvement Trust, Bathinda Vs CIT, Bathinda [2013 (2) TMI 577 - ITAT AMRITSAR], we are in conformity with the order of the Commissioner of Income Tax in withdrawing the registration granted to the assessee under section 12AA - Appeal of the assessee is dismissed.
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