TMI Blog2015 (4) TMI 870X X X X Extracts X X X X X X X X Extracts X X X X ..... MADRAS HIGH COURT] and Commissioner of Income Tax-I, Madurai. Versus Arulmigu Sri Kamatchi Amman Trust [2012 (2) TMI 159 - MADRAS HIGH COURT ] It is not denied by the assessee that on the date of the application under Section 12AA, it was yet to commence its operation. But nevertheless the genuineness of the objects of the trust were not questioned by the Commissioner. Considering the fact tha ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Appellate Tribunal was right in holding that the assessee trust is entitled for registration under Section 12AA of the Act? 2. Learned counsel appearing for the Revenue fairly submits that the issue involved in this appeal is covered by a decision of this Court in T.C.(A)No.579 of 2013 dated 27.01.2014, wherein this Court, following the decision of this Court reported in (2012) 206 Taxman 69 ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... n, the Commissioner has to give an opportunity to the assessee as provided for under proviso to sub-section (1) of Section 12AA. Under sub-section (3) of Section 12AA, the Commissioner is given power to cancel the registration, if he satisfies that the objects of such trust are not genuine or not being carried on in accordance with the objects of the trust. When such an authority is vested with th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e threshold. The Tribunal had followed the decision of the Gujarat High Court in the case of CIT V. Kutchi Dasa Oswal Moto Pariwar Ambama Trust reported in 29 Taxman 228. We respectfully agree with the decision of the Gujarat High Court. 3. The above-said view was followed by this Court, in which one of us was a party (R.Sudhakar,J) in T.C.(A)No.261 of 2014 dated 22.8.2014. 4. Accordingly, ..... X X X X Extracts X X X X X X X X Extracts X X X X
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