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TMI Blog2022 (6) TMI 517X X X X Extracts X X X X X X X X Extracts X X X X ..... led by the assessee was carefully considered and information/clarification were called for examining genuineness of its activities and in response, the ld. AR on behalf of the assessee appeared and made submission and explained the objects and activities of the assessees society. It was held by the ld.CIT(E) that on going through trust deed filed by the assessees society, it is seen that there is no Dissolution clause, which would indicate that fate of the trust on its dissolution, the affidavit signed by the Authorized Representative/Trustee/President and a letter to the effect that appropriate amendment shall be made in due course was however filed and to mitigate the deficiencies, the assessee was requested to file an application for ame ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... bjects of the trust which are all educational in nature and the assessee society is currently running the following educational institutions namely Mount Everest Primary School, Pandit Nehru Higher Secondary School and Vasantrao Naik Polytechnic College. It was submitted that the said school and colleges are running since past '50' years, wherein the primary and secondary schools are aided by the Government of Maharashtra, whereas the Polytechnic college is unaided. It was submitted that the assessee society has been regularly filing its income tax returns along with the audited financial statements and the returns of income & audited financial statements for the preceding three years were also filed along with the application in Form 10A s ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... e new inserted provisions in the Income tax Act itself, which apparently has skip the attention of ld.CIT(E). 7. It was further submitted that the absence of the clause of dissolution in the Trust Deed would be in no manner be an impediment in the operation of the statute as the Maharasthra Public Trust Act duly takes care of such contingency and in support reliance was placed on the Hon'ble Bombay High Court decision in case of CIT(E) v/s Tara Educational & Charitable Trust (ITA No. 247 of 2015 dated 31.07.2017), wherein at para 4 and 5, the Hon'ble High Court was pleased to held as under:- "4. The registration of the Trust has to be done on compliance of the provisions of Section 12AA of the Act. The authority is required to consider t ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ion so filed by the assessee seeking registration under section 12AA may therefore be directed to be allowed. 10. Per contra, the ld. CIT/DR has relied on the order and findings of the ld. CIT(E). 11. We have heard the rival contentions and perused the material available on record. We find that no adverse findings have been recorded by the ld CIT(E) regarding the objects of the assessee society being charitable in nature and genuineness of the activities carried out by the assessee society in pursuit of the said objectives on or before filing the application seeking registration u/s 12AA of the Act. As far as dissolution clause in the trust deed is concerned, we find that once the assessee has submitted to the jurisdiction of the Charity ..... X X X X Extracts X X X X X X X X Extracts X X X X
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