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2017 (11) TMI 1586 - AT - Income TaxCancelling the registration u/s. 12AAA(3) - objectives of the assessee-trust - proof of charitable activities - receipt of donations - Held that:- The activities of the trust in relation to its education activities have not been doubted and on the basis of same activities registration u/s 12AA of the Act was awarded to the assessee. Simply the assessee has received donation from some parties which are involved in the bogus transactions cannot be the basis for the denial of the registration certificates as discussed above. We also find that the ld. CIT(Ex) has cancelled the registration on the ground of non-genuineness of transaction though the same was routed through banking channel. Thus in our considered view the genuineness of the transaction cannot be doubted in the aforesaid facts & circumstances. See CIT Vs. Green Infra Limited [2017 (4) TMI 185 - BOMBAY HIGH COURT]. We are also in disagreement with the finding of ld. CIT(Ex) that the QSP gave its accounted money through bank to the assessee and received the same in cash from the assessee and subsequently the cash was offered to tax under IDS. It is because why a prudent man will convert the accounted money into unaccounted form and thereafter he will offer the same to tax under IDS. There is no documentary evidence available in support of the above finding of the ld. CIT(Ex) which is based on his surmise & conjuncture. - Decided in favour of assessee.
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