TMI Blog2012 (5) TMI 742X X X X Extracts X X X X X X X X Extracts X X X X ..... de the impugned orderpassed by the CIT-I, Coimbatore and remit the matter back to the CIT-I, Coimbatore to decide the matter afresh after taking into consideration the order/registration certificates granted by the Director of Income Tax (Exemptions), Kolkata and Commissioner of Income Tax, Mysore respectively. The assessee is directed to produce all necessary documents as may be required by CIT-I ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... dated 31.01.2012 rejected the application of the assessee with the following observations:- 2.1 It was noticed from the details furnished by the Trust that it is statedly meant for a single community, and is engaged in the business of procuring interest-free loans and in turn lending the same to their community members for further business activities. Therefore, the activities of the Trust ne ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... arning. 4.4 To promote, propagate, foster and implement the concept of Qardan Hasana among the Dawoodi Bohras, in accordance with the tenets and principles of Dawat-e-Hadiyah. 4.5 To host and assist in arranging Niyaz (religious meals) on solemn occasions. 4.6 To promote, foster and support the development, expansion, renovation and maintenance of Masjids, Mausoleums, Madrasahs, Jamaatkha ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... aper book. He further submitted that an unaudited accounts as on 30.11.2011 were submitted before the CIT-I, Coimbatore to show the nature of expenditure which is primarily religious in nature but the same have been ignored by the Commissioner of Income Tax-I, Coimbatore.. 5. On the other hand, Departmental Representative relied on the order passed by the CIT-I, Coimbatore and submitted that th ..... X X X X Extracts X X X X X X X X Extracts X X X X
|
