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TMI Blog2023 (5) TMI 1224X X X X Extracts X X X X X X X X Extracts X X X X ..... e registering authority, the then Commissioner of Income Tax, J&K, Jammu with the genuineness of its activities and it was held that the assessee Trust had generated surplus (profit) out of their total receipts, thus, the provisions contained under Section 12(AA)(1) (b)(ii) of the Income Tax Act, 1961 were applied in the case. 2. Aggrieved of the order passed by the Commissioner of Income Tax, J&K, Jammu, the assessee filed an appeal before the learned Income Tax Appellate Tribunal, Amritsar in M.A No. 33(Asr)/2013(Arising out ITA No. 617(Asr)/2011) who has allowed the appeal of the assessee with the directions to the department to grant registration to the assessee applied by the assessee. 3. Aggrieved of the order dated 31.03.2014 passe ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... rt in the case of City Montessori School (Regd.) Vs. Union of India and Others (supra) and decision of Hon'ble Punjab & Haryana High Court, in the case of CIT vs. Manav Mangal Society (supra), support our view. As regards arguments made by Ld. DCIT(DR) Mr. Tarsem Lal, nothing has been brought on record by him or by Ld. CIT about the falsity of the trust. Nothing further has been brought on record that fees structure was so huge to treat the motive of trust as profits-making or non-charitable. Therefore, the arguments of the Ld. DR. Mr. Tarsem Lal are general arguments and without any basis and cannot support the revenue. In the facts and circumstances of the case, the Ld CIT is directed to grant registration to the assessee as applied by th ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... fit. In addition, we hasten to add that the 13th proviso to Section 10(23C) is of great importance in that assessing authorities must continuously monitor from assessment year to assessment year whether such institutions continue to apply their income and invest or deposit their funds in accordance with the law laid down. Further, it is of great importance that the activities of such institutions be looked at carefully. If they are not genuine, or are not being carried out in accordance with all or any of the conditions subject to which approval has been given, such approval and exemption must forthwith be withdrawn. All these cases are disposed of making it clear that revenue is at liberty to pass fresh orders if such necessity is felt aft ..... X X X X Extracts X X X X X X X X Extracts X X X X
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