TMI Blog2015 (11) TMI 913X X X X Extracts X X X X X X X X Extracts X X X X ..... llant. Joe Sebastian for the respondent. ORDER The order of the Bench was delivered by 1. N. R. S. Ganesan (Judicial Member).-This appeal of the assessee is directed against the order of the Commissioner of Income-tax-I, Madurai, dated September 23, 2014 rejecting the application of the assessee for registration under section 12AA of the Income-tax Act, 1961. 2. At the outset, it was noticed that there was a delay of seven days in filing the appeal. The assessee filed an application to condone the day. After hearing both sides, we find that there was sufficient cause for not filing the appeal within the period prescribed. Accordingly, the delay of seven days in filing the appeal is condoned and the appeal of the assesse ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... on the ground that there cannot be twin objects, i.e., religious and charitable in nature. An identical issue was considered by the hon'ble Madras High Court in the case of DIT (Exemptions) v. Seervi Samaj Tambaram Trust [2014] 362 ITR 199 (Mad) and found that the trust can have twin objects. In fact, the hon'ble Madras High Court has observed as follows (page 201) : 6. The very issue raised by the Revenue has been dealt with by a Division Bench of this court in the case of CIT v. Arulmigu Sri Kamatchi Amman Trust reported as [2012] 206 Taxman 69; [2014] 2 ITR-OL 191 (Mad). In the said case, the respondent/assessee sought for registration under section 12AA of the Income-tax Act on the ground that the object of the trust was re ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... r cent. of the income from such property shall not be included in the total income of the previous year of the person in receipt of the income. Thus, the Division Bench held (page 193 of 2 ITR-OL) : 'from a reading of the above, it is clear that the income derived from the property held under trust wholly for charitable or religious purpose, shall not be included in the total income of the trust. Therefore, the said provision would be applicable to both trusts established with the object of charitable as well as religious purposes. Therefore, section 12AA of the Income-tax Act does not make any difference between the trusts created with the object of charitable and religious purposes and, even if the trust is not created with both the o ..... X X X X Extracts X X X X X X X X Extracts X X X X
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