TMI Blog2019 (1) TMI 1129X X X X Extracts X X X X X X X X Extracts X X X X ..... registration u/s.12AA of the Act, the Ld. CIT(Exemption) should only look into the objects of the Trust. The issue regarding satisfaction of genuineness of the activities of the Trust is not a matter to be looked into at the time of granting registration u/s.12AA of the Act. That may be considered and decided accordingly at the time of assessment proceedings. As perused the objects of the Trust placed in the paper book. We find that the assessee Trust has objects which are both charitable and religious in nature. Therefore, it can safely be said that assessee Trust is a composite Trust and not purely for charitable purposes. It is the Trust for both charitable and religious purposes. In such circumstances by applying the decision of Com ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... including corpus donations received in cash. However, no details of donors are mentioned in the receipt book. 2.1 The Ld. AR of the assessee vehemently argued that at the time of granting registration u/s.12AA of the Act, the objects of the Trust are only to be looked into and not the applicability of funds or the sources of the funds. In this regard, the Ld. AR of the assessee has placed reliance on the decision of the Hon ble Rajasthan High Court in the case of CIT Vs. Vijay Vargiya Vani Charitable Trust in ITA No.17/2014 wherein the Hon ble High Court categorically held that at the time of granting registration, the objects of the Trust for which it was formed, is only to be looked into and the CIT s satisfaction about genuineness of ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... of granting of registration that the powers of the CIT enshrined u/s.12AA of the Act, provided that the CIT is to look into the objects of the Trust and the genuineness of its activities. Merely because, one of the objects of the Trust was for the benefit of upliftment of the Jain Community as against the predominant object of providing education by the Trust or the Institution, the issue arises whether the grant of registration u/s.12AA of the Act could be denied to the assessee. The allowability of the deduction u/s.11 and 12 of the Act is to be looked into by the Assessing Officer while completing assessment in the hands of the assessee at the relevant time. Whether the said deduction u/s.11 and 12 of the Act is allowable or not to the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... time of granting registration u/s.12AA of the Act. That may be considered and decided accordingly at the time of assessment proceedings. Similarly, the Co-ordinate Bench of the Tribunal, Pune in the case of Kul Foundation Vs. CIT (supra.) has specifically observed the intricacy with regard to section 13(1)(b) of the Act which provides certain parameter following which the assessee /Trust or Institution will not get benefit of exemption u/s.11 and 12 of the Act. The Co-ordinate Bench of the Tribunal Pune Bench has specifically held that where the conditions of section 13(1)(b) is attracted so to denying exemption u/s.11 and 12 of the Act is a matter to be looked into by the Assessing Officer at the time of assessment proceedings. However, a ..... X X X X Extracts X X X X X X X X Extracts X X X X
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