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TMI Blog2019 (11) TMI 805X X X X Extracts X X X X X X X X Extracts X X X X ..... 1961 (in short of the Act) and application under section 80G of the Act respectively. Both the appeals being connected with the issue of registration of the assessee trust, same were heard together and disposed off by way of this consolidated order for convenience. 2. Briefly stated, the facts are that the assessee came into existence on 31/10/2014 by way of donation of Rs. 21,000/- as corpus of the trust by the settler Sh. Mahabir Prasad. In the trust deed dated 31/10/2014, the main objective of trust was stated as establishing, open, and run the educational Institute. In furtherance of the main object, the assessee started the process of opening the school under the trade name "Mount Litera Zee School" which was used under the academic ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... school was not reflected from the accounts for the period ending on 31/03/2016 filed along with applications. Neither fee received from the students nor expenses towards day-to-day running of the school was reflected in the accounts except advance fee of Rs. 21,52,500/-shown in the balance sheet. A payment of Rs. 19.20 lakhs was shown as paid to ZLL as a retainer fee. Copy of bank statement where admission fees and tuition fees would have been credited prior to commencement of the academic session were not provided to the Ld. CIT(E). (v). No confirmation or details of PAN etc. were provided in case of unsecured loan of Rs. 1,54,00,000/-. (vi). The secured loans from M/s Religare Finnest Ltd., M/s ICICI Bank Ltd. and HDFC Ltd. etc taken ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... for running classes of Senior Secondary level. He submitted that the permission was received subsequent to the rejection of the registration by the Ld. CIT(E). He submitted that though activities of the assessee are genuine, if required so the matter may be restored back for deciding the issue of registration under section 12AA of the Act and subsequent approval under section 80G of the Act afresh in the light of the additional evidences submitted evidencing the genuineness of the activities of the assessee trust. 6. The LD DR on the other hand relied on the order of the Ld. CIT(E ) and objected for restoring the matter back to him. 7. We have heard rival submission of the parties on the issue in dispute and perused the relevant material ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... Ld. CIT(E), has brought on record any non-genuine activity carried by the assessee. If any further information was required in the case, he could have carried further enquiries but rejection of registration on presumption is not justified. In our opinion, the Ld. CIT(E) has not examined the activities of the assessee in the right perspective. As the assessee has filed additional evidence before us including the affiliation granted by the central board of education, we feel it appropriate to set aside the order of the Ld. CIT(E) and restore the matter back for deciding the application of registration under section 12AA of the Act as well as the application for approval under section 80G of the Act afresh, in accordance with law. The assesse ..... X X X X Extracts X X X X X X X X Extracts X X X X
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