TMI Blog2017 (4) TMI 1386X X X X Extracts X X X X X X X X Extracts X X X X ..... der, the revenue had preferred further appeal before the Hon’ble Calcutta High Court and the same is pending. As on date, the assessee enjoys registration u/s 12A of the Act which fact is not disputed by the revenue in the assessment order. Hence there is no reason to deny the exemption u/s 11 of the Act. We also find that the revenue had not brought any material on record to prove that assessee h ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... relating to Assessment Year 2010-11. 2. The only issue to be decided in this appeal is as to whether the ld. CIT(A) was justified in granting exemption u/s 11 of the Act in the facts and circumstances of the case. 3. The brief facts of this issue is that the assessee filed its return of income for the Asst. Year 2010-11 on 30.9.2010 declaring total income of Rs Nil. The assessee trust runs ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... s (AOP) and benefit of exemption u/s 11 is denied. Accordingly the ld. AO determined the excess of income over expenditure of educational trust as total income of the assessee in the sum of ₹ 2,69,44,900/-. The ld. CIT(A) observed that as on date, the cancellation of registration of the trust u/s 12AA(3) of the Act has been quashed by the Tribunal in ITA No. 1477 (Kol) of 2010 dated 24.2. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... in sec. 12AA of the IT Act by the Finance Act of 2010, for cancellation of the Registration of a Trust or Institution where the activities of the Trust/ Institution are not genuine or are not being carried out in accordance with the objects thereof. 4. The ld. DR vehemently relied on the order of the ld. AO. In response to this, the ld. AR relied on the order of this tribunal for the Asst. Yea ..... X X X X Extracts X X X X X X X X Extracts X X X X
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