TMI Blog2013 (5) TMI 364X X X X Extracts X X X X X X X X Extracts X X X X ..... the grant of registration u/s 12AA – Held that:- The university is a body corporate and established for the cause of education. It is, thus, a Institution eligible for registration within the meaning of Section 12AA of the Act. In the earlier writ petition, a categorically finding has been recorded that the university has been established solely for educational purpose and not for profit therefore, it is a charitable institution read with Section 15(2) of the Act. In view of the said fact, the assessee was, thus, rightly found eligible to seek registration under Section 12AA of the Act by the Tribunal. - ITA No.190 of 2011(O&M), ITA No.285 of 2012 - - - Dated:- 2-5-2013 - Hemant Gupta And Ritu Bahri,JJ. For the Appellant : Mr. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ty, nor a trust, nor a deity or wakf thus not an institution eligible for making application u/s 12AA of the Income Tax Act? (iii) Whether the ITAT is justified in law in holding that the applicant university is a legal entity separate from its sponsoring body an institution competent for applying for registration u/s 12AA of the Income Tax Act in spite of the fact that the sponsoring body (O.P.Jindal Jan Kalyan Sansthan) is an applicant for establishing the O.P.Jindal Global University, has a right to possess all assets liabilities of the university on its dissolution and characterises the applicant university as merely its activity, nor separate from the parent body? The assessee, in his appeal (ITA No.285 of 2011) directed again ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rporate the petitioner - University as one of the University established under the Act. Such University has to satisfy the objective as delineated in Section 3 of the Haryana Act, which are undisputedly for the educational purposes. The said aspect has not been controverted by the authority in the order impugned or by the learned counsel for the Revenue during the course of arguments before this Court. Therefore, we have no hesitation to hold that the petitioner is a University established solely for educational purposes and not for the purposes of profit. On 11.05.2009, the assessee applied for registration under Section 12AA of the Act as well as for exemption under Section 80G(5) of the Act. The Commissioner of Income Act declined reg ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... bunal. The Revenue's appeal i.e. ITA No.282 of 2012 is also separately listed for hearing today. Learned counsel for the revenue has vehemently argued that the application for registration submitted by the University could not be entertained as it is charitable or religious trust alone which can seek registration under Section 12AA of the Act. The said provisions contemplate that contribution received by a trust wholly for charitable and religious purpose or an institution established wholly for such purposes is eligible for registration. Since the University is not established for a charitable purpose, it is not eligible to seek registration under Section 12AA of the Act. On the other hand, learned counsel for the assessee referred to ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... firstly it is hypothetical that the university will be dissolved and in the event of dissolution of the university, the sponsoring body will appropriate the fund for religious purposes in excess of 5% of receipt of a total receipt of the said trust. It is also contended that the exemption under Section 80G of the Act is one time event though the assessee is required to carry out its charitable activities without fail. In the event of not performing any charitable activities, the authorities under the Act have jurisdiction to assess such charitable institution in accordance with law but that will not dis-entitle the assessee from exemption under Section 80G of the Act. In ITA No.701 of 2010 titled 'Commissioner of Income Tax-II, Chandigarh V ..... X X X X Extracts X X X X X X X X Extracts X X X X
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