TMI Blog2019 (9) TMI 191X X X X Extracts X X X X X X X X Extracts X X X X ..... to the facts and circumstances of the case. The objects as noted above have not been disputed by the CIT(E). Further, in similar assessee s having the same objects, registration under section 12AA have been granted in their favour. These facts, therefore, show that assessee has satisfied the conditions of Section 12AA of the Income Tax Act, 1961. Accordingly there were no justification for CIT(E) to reject the application for registration under section 12A. We set aside the impugned order and direct the CIT(E) to grant registration under section 12A of the Income Tax Act to the assessee within one month from the date of the order. - Decided in favour of assessee. - ITA.No.8158/Del./2018 - - - Dated:- 3-9-2019 - Shri Bhavnes ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... (e) To promote continuous professional development of valuation professionals. 2.1. The Ld. CIT(E) on perusal of the same noted that assessee-company simply formed to promote the quality of the registered valuers which is not charitable work. Hence, objects of the assessee-company not found to be charitable in nature. It was also noticed that assessee has not been able to establish genuineness of the activity. Therefore, application under section 12AA was rejected. 3. Learned Counsel for the Assessee reiterated the submissions made before the Ld. CIT(E) and submitted that assessee is a company registered under section 25 of the Companies Act, 2013. It was incorporated to enroll the regist ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 3.1. Judgment of Hon ble Rajasthan High Court in the case of CIT vs. Jodhpur Chartered Accountants Society [2002] 258 ITR 548 (Raj.), in which it was held as under : Applying the test laid down by the apex court in Ahmedabad Rana Caste Association v. CIT [1971] 82 ITR 704, we find that the predominant object of the society is dissemination of knowledge and education of commercial laws, tax laws for the benefit of general public to inculcate a sense of responsibility towards the nation and foster law abiding citizens. The objects clause of the constitution emphasises to propagate and disseminate knowledge about the auditing, accounting, direct and indirect taxes by holding seminars, conferences and workshops ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... 80] 126 ITR 27 (Bom.), in which it was held as under : In our opinion, the functions of the Bar Council as intended in s. 6 of the Advocates Act, 1961, are such that it is clearly a body constituted for general public utility and the entire income of such a body will be exempt from tax for the relevant assessment years with which we are concerned, in view of the provisions of s. 11 of the I.T. Act, 1961. Accordingly, our answer to the question referred to us is in the affirmative and in favour of the assessee. The revenue shall pay the costs of the assessee. 3.3. Judgment of Hon ble Supreme Court in the case of Ahmedabad Rana Caste Association vs. CIT [1971] 82 ITR 704 (SC), in which it was held as und ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... cord. He has, therefore, prayed that assessee may be granted registration under section 12AA of the Income Tax Act. 4. On the other hand, the Ld. D.R. relied upon the Orders of the authorities below, but did not rebut above legal propositions. 5. We have considered the rival submissions and perused the material on record. At the time of granting of registration under section 12AA of the Income-Tax Act, the Ld. CIT(E) is required to satisfy himself about the objects of the Trust or Institution and the genuineness of its activities. The assessee has produced sufficient evidence on record that assessee-company is involved in charitable activities and have also held Seminars and Training Sessio ..... X X X X Extracts X X X X X X X X Extracts X X X X
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