9911796707
TMI Blog2022 (3) TMI 159X X X X Extracts X X X X X X X X Extracts X X X X ..... x Appellate Tribunal, "B" Bench, Kolkata (the 'Tribunal' in short) in ITA No.431/Kol/2017 for the assessment year 2012-13. The revenue has raised the following substantial questions of law: (i) Whether on the facts and circumstances of the case and in law, the Learned Tribunal is right in quashing the order for cancellation of registration under Section 12AA(3) of the Income Tax Act, 1961 based on money laundering activities carried out by the assessee trust with Herbicure Healthcare Bio Herbal Research Foundation ignoring that such activities have been established in other similar basis ? (ii) Whether on the facts and circumstances of the case and in law, the Learned Tribunal is perverse in law in holding that there is no allegati ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... nsaction and retaining the commission and the second one is accepting money by cash or financial transaction and giving donation after retaining the commission. The allegation against the assessee was that they received donations through banking channel and returned the same in cash to the donor. In this regard, certain statements were referred to by placing reliance on those statements and also that the approval granted in favour of the School of Human Genetics and Population Health had been withdrawn under Section 35(1)(2i) of the Act. The CIT(E) concluded that the activities of the assessee are not genuine and are not being carried out in accordance with the objectives of the trust. The assessee preferred appeal before the tribunal and ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ssessee and the brokers and in the absence of any evidence it is not possible to come to any conclusion that the assessee indulged in money laundering and the donation as received by them was a bogus donation. The tribunal also noted that the facts of the assessee's case were identical to that of the case in Sri Mayapur Dham Pilgrim and Visitors Trust. Furthermore, the tribunal noted that the CIT(E) did not dispute the fact that the assessee was running an educational institution in the State of Haryana imparting education to 2993 students and during the year 2013-14 they have received donation of Rs. 7,71,02,000/- from 172 parties which were placed in the form of paper book before the tribunal. Further, the tribunal held that CIT(E) has no ..... X X X X Extracts X X X X X X X X Extracts X X X X
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