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2022 (3) TMI 159 - HC - Income TaxExemption u/s 11 - cancellation of registration under Section 12AA(3) based on money laundering activities carried out by the assessee trust - Tribunal quashing the order for cancellation of registration AND holding that there is no allegations in the order of the Commissioner of Income Tax (Exemption), that the activities of the trust are not genuine or that activities are not carried out in accordance with the object of the trust - HELD THAT:- Tribunal found that there is no evidence on record to show any connection between the assessee and the brokers and in the absence of any evidence it is not possible to come to any conclusion that the assessee indulged in money laundering and the donation as received by them was a bogus donation. The tribunal also noted that the facts of the assessee’s case were identical to that of the case in Sri Mayapur Dham Pilgrim and Visitors Trust - tribunal noted that the CIT(E) did not dispute the fact that the assessee was running an educational institution in the State of Haryana imparting education to 2993 students and during the year 2013-14 they have received donation of ₹ 7,71,02,000/- from 172 parties which were placed in the form of paper book before the tribunal. Further, the tribunal held that CIT(E) has not doubted the genuineness of the other donations except for two parties. With regard to the genuineness of the activities of the assessee, the tribunal noted that the assessee was catering to the need for high quality English medium school for around 100 villages at Bahal and they have ventured into the field technical education for establishing an engineering college apart from running fully free school since 2010 where under privileged students of the society are imparted free education. That apart, the tribunal also noted that the CIT(E) has not doubted the charitable activities done by the assessee trust either to be not genuine or not being carried on in accordance with the objects for which the trust was formed. - Decided against revenue.
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