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TMI Blog2015 (12) TMI 1460X X X X Extracts X X X X X X X X Extracts X X X X ..... (Exemptions) rejected the application filed by the assessee-trust seeking registration under section 12AA of the Income-tax Act, 1961. 2. The assessee aggrieved by the order of the learned Commissioner of Income-tax (Exemptions) has raised four grounds before us ; however, the crux of the issue is that the assessee-trust is aggrieved by the order of the learned Commissioner of Income-tax who had refused to grant registration under section 12AA of the Act on the ground that the application of the assessee is not accompanied with the accounts of the society for the period ending March 31, 2014. 3. The brief facts of the case are that the assessee is a society, constituted by the memorandum of association on July 21, 2013 and got registered ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... tely preceding the year in which the said application is made) for which such accounts have been made up. 4.2 The requirement of furnishing audited accounts of the society for the period ending on March 31, 2014 has not been fulfilled by the applicant-society while applying for registration under section 12AA. In response to a specific query on this point, the assessee, vide its letter dated November 12, 2014, has submitted as under : "(XV). The registration of the society was done only in May, 2014 and the accounts will be closed in March 2015. Therefore, copies of the accounts of the earlier year and the copies of the return of income filed do not arise." 5. The above reply of the assessee has been duly considered and has been found t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s of the case that the learned Commissioner of Income-tax had rejected to grant registration under section 12AA of the Act to the assessee because the assessee-trust has not filed its statement of accounts for the period July 21, 2013 to March 31, 2014. We do not agree with this view of the learned Commissioner of Income-tax (Exemptions). As rightly argued by the learned authorised representative that at the time of registration the learned Commissioner of Income-tax (Exemptions) has to only look into the objects of the trust and if it found appropriate grant of registration under the provisions of the Act. Therefore in the case of the assessee, the learned Commissioner of Income-tax (Exemptions) ought to have examined the objects of the tr ..... X X X X Extracts X X X X X X X X Extracts X X X X
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