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2018 (10) TMI 1039 - HC - Income TaxCharitable activity - approval u/s 10(23C)(vi) - Absence of the dissolution clause of the trust, there is a lacuna which may be misutilized in the event of dissolution of the managing committee - ITAT allowed claim - Held that:- The Tribunal while allowing the appeal has taken into consideration the aims and objectives of the society and that there is no dispute regarding genuineness of the activities of the society. The reliance was placed upon the assessment order passed under Section 143 (3) of the Act for the assessment year 2012-13. There were categorical findings by the Assessing Officer that the object of the society was educational and it was existing only for educational purposes. The Tribunal has rightly held that the reason for rejection by the CCIT cannot be sustained as the benefit which may or may not accrue under Section 13(3) of the Act, does not have any effect on the genuineness of the activities of the trust. The eventuality relied upon by the CCIT is based on surmises without there being any definite basis that any misutilisation would occur for sure in future. The order passed is in consonance with provisions of Section 10(23C)(vi) of the Act - decided against revenue.
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