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2017 (3) TMI 671 - AT - Income TaxApplication for registration U/s 12AA rejected - entitled to registration under section 80G - Held that:- The assessees were asked to submit latest audited accounts. These applicants have submitted audited accounts for the financial year 2014- 15 and 2015-16. These accounts show that these societies have made project expenses. There are programme activity expenses also. These societies have income from projects, interest, agriculture inputs and also contribution by self help groups. Prior to finalization regarding granting registration U/s 12AA and 80G of the Act, these accounts need a close scrutiny to arrive at a just conclusion. Therefore by considering the totality of the facts and circumstances of the case, we restore the issues regarding granting of registration U/s 12AA and 80G (5) of the Act to the file of the ld. CIT(E) for reconsideration and decide after considering the latest accounts of these societies and case laws relied upon. Accordingly, the issues under consideration is restore to the file of the ld. CIT(E). - Appeals of the assessees are allowed for statistical purposes only.
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