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2015 (1) TMI 1488 - AT - Income TaxAssessment of trust - CIT dismissed the application u/s 12AA - registration has been denied on allegation that ‘’almost in every activity there is a scent of commercialization/ profit motive” - HELD THAT:- The registration cannot be refused on the basis of vague findings like the “scent of commercial activity” and accounts audit being as per state govt. rules and not a CA. From the verification of the relevant Urban Development Rules, it emerges that assessee carries on various activities which appear to be charitable in nature. CIT has not appreciated the application for registration in proper perspective, the activities of the assessee can be judged from the documents submitted by it. Thus we are inclined to set aside the issue back to the file of the ld. CIT to decide the same afresh in accordance with law by providing reasonable opportunity of being heard to the assessee expeditiously. Thus the appeal of the assessee is allowed for statistical purposes.
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