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2023 (9) TMI 749 - AT - Income TaxExemption u/s 11 - Rejection of application for registration u/s. 12AA - Rejecting the application of the assessee the CIT(E) observed that the grants / funds received from the Government of Haryana is income of the assessee - assessee vehemently stated that the impugned grants are nothing but capital receipts and, therefore, were directly credited to the reserves and surplus in the balance sheet - HELD THAT:- Section 12AA pertains to the registration of the trust and not to assess what a trust has actually done. That is to say the Commissioner is bound to consider whether the objects of the trust are charitable in nature and whether the activities which the trust proposed to carry on are genuine in the sense that they are in line with the objects of the trust. For the above preposition we drawn support from the decision of the Hon’ble Supreme Court in the case of Anand Social And Educational Trust [2020 (2) TMI 1293 - SUPREME COURT] Incidentally we find that on the same set of facts the PCIT has granted registration to the assessee for A.Y.2022-23 to 2026-27 as per the order. Decided in favour of assessee.
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