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2015 (7) TMI 954 - KARNATAKA HIGH COURT

2015 (7) TMI 954 - KARNATAKA HIGH COURT - TMI - Claim of registration under Section 12A - whether Tribunal erred in allowing the appeal by ignoring the clauses found in the Memorandum of Association, which permitted the assessee to utilize the funds for religious purposes and carry on commercial activity by constructing and letting out community hall? - Held that:- It is settled law that in the first year when the trust is sought to be registered, it could not have carried on any activity, thus .....

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nd it is not authorized to go into the nature of the activity by which the income is derived by the Trust.

In the present case, the question is with regard to the registration of the Trust in question wherein the objects have been clearly specified. The question of assessing the activities of the Trust would arise only after the Trust is registered and carries on the activities. At the time of initial registration, the same cannot be a question to be considered. In our view, the Tribu .....

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e Tax Act, 1961. The said application of the respondent was rejected by the Director of Income Tax (Exemptions), (for short 'DIT (Exemptions), Bangalore, after holding that the objects of the Society were not specific and also since it was not possible to verify the genuineness of the objects and activities of the Trust, as required under Section 12AA of the Act. Challenging the said order, the respondent filed an appeal before the Income Tax Appellate Tribunal, which was allowed vide order .....

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that the assessee would be entitled to claim registration under Section 12A of the Act as some of the objects was of charitable nature by ignoring the clauses in a deed which permitted the assessee to utiize the funds for religious purposes and carry on commercial activity by constructing and letting out community hall?" 2. We have heard the arguments of Sri K V Aravind and Sri Balram R Rao, learned advocates appearing for appellant and respondent respectively. Perused the orders of Directo .....

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