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2015 (11) TMI 913 - ITAT CHENNAI

2015 (11) TMI 913 - ITAT CHENNAI - [2015] 41 ITR (Trib) 445 (ITAT [Chen]) - Registration under section 12AA denied - there cannot be twin objects, i.e., religious and charitable in nature - Held that:- An identical issue was considered by the hon'ble Madras High Court in the case of DIT (Exemptions) v. Seervi Samaj Tambaram Trust [2014 (2) TMI 32 - MADRAS HIGH COURT] and found that the trust can have twin objects. Thus there is no justification in rejecting the application of the assessee. - Dec .....

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n 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 assessees is admitted. 3. Shri A. S. Sriraman, learned counsel for the assessee submitted .....

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found that the trust can have both religious and charitable objects. Therefore, according to learned counsel, the Commissioner of Income-tax is not justified in rejecting the application of the assessee. 4. On the contrary, Shri Joe Sebastian, the learned Departmental representative submitted that the assessee can establish a trust either for religious or charitable purpose. The assessee cannot have both charitable and religious objects in one trust. According to the learned Departmental repres .....

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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 (Ma .....

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pellate Tribunal. Following the decision in the case of Upper Ganges Sugar Mills Ltd. v. CIT reported in [1997] 227 ITR 578 (SC) and in the case of State of Kerala v. M. P. Shanti Verma Jain reported in [1998] 231 ITR 787 (SC), the Tribunal allowed the appeal. Challenging the same, the Revenue filed an appeal before this court contending that the Tribunal failed to appreciate the activities claimed to be carried on by the said assessee, which was an admixture of both religious and charitable in .....

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accumulated or set apart for application to such purposes in India, to the extent to which the income so accumulated or set apart is not in excess of fifteen per 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 p .....

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