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2017 (11) TMI 572 - HC - Income TaxEligibility to registration u/s 12AA - denial of registration on the ground that the assessee had failed to produce material to establish the authenticity of the unsecured loan received by it - revision of mistake seeked - Held that:- The object clause of the assessee as placed on the paper book shows that it is running school for educational purposes. The assessment order of earlier years as placed in the paper book had also clearly pointed out to the same effect. However, liberty was granted to the Assessing Officer to examine the books of account and in case there was any violation of the Act then to disallow exemption under Section 11 of the Act. No illegality or perversity could be demonstrated in the aforesaid approach of the Tribunal. However, inspite of the same, the revenue moved an miscellaneous application before the Tribunal for recalling the order, Annexure A-2. The Tribunal had noticed that by moving the MA, the revenue had tried to review the order which was not permissible under Section 254 of the Act. Further, vide order dated 20.5.2015, the Tribunal had clearly held that the Assessing Officer would be entitled to examine the books of account of the assessee during assessment proceedings and if anything adverse was found, the Assessing Officer can disallow exemption under Section 11 of the Act. The Tribunal had rightly held that the revenue has failed to point out any mistake apparent on the face of the record and rectifiable under Section 254(2) - Decided against revenue
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