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2016 (10) TMI 419 - AT - Income TaxGrant of exemption u/s 80G denied - denial of claim for want of registration under section 12AA - Held that:- We find merit in the submission of the ld. Counsel for the assessee that the objects of the assessee of clause (a) and (d) are for establishment of hospitals and colleges. We also find that as per clause 16 of the Trust Deed, no income or part of income or assets of the Trust Fund can be applied or transferred for any purposes other than charitable purposes. Keeping this clause in view, we hereby set aside the order of ld. CIT and direct him to consider the application of the assessee for registration u/s 12AA of the Act. The application for granting exemption under section 80G of the Act was denied for want of registration under section 12AA. Since we have restored the issue of registration for consideration afresh, the issue of exemption is also restored the file of the ld. CIT for decision afresh.
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