Home Case Index All Cases Income Tax Income Tax + AT Income Tax - 2018 (4) TMI AT This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2018 (4) TMI 1130 - AT - Income TaxRejecting registration u/s 12AA - denying of approval u/s 80G - part of the donations received from the donors have not been routed through Income & Expenditure Account but directly taken to the Balance Sheet - donation received throughout the year have been deposited in Bank account during demonetization period amounting to more than ₹ 1,00,000 with no reasonable explanation - Held that:- Going by the specific words in section 12AA what is germane to the issue is only as to the genuineness of the Trust and its activities. We note that there is no such finding in the impugned order of the ld. CIT(Exemption) that activities of the trust were not genuine. As per provisions of section 12A and 12AA we hold that the grounds raised by the ld. CIT(E) (Registering Authority) for rejecting of registration to the assessee trust cannot be sustained and ld. CIT(Exemption) ought to have examined whether activities of the trust are charitable in nature or not - direct the ld. CIT(Exemption) to examine the genuineness of the Trust and its activities and objectives and adjudicate the issue in accordance with law - Decided in favour of assessee for statistical purposes.
|