9911796707
TMI Blog2023 (9) TMI 1517X X X X Extracts X X X X X X X X Extracts X X X X ..... That the Assessee craves leave to raise any other ground/s on or before the date of hearing to establish that the order is bad. " 2. We have heard rival submission of the parties. Briefly stated facts of the case are that the assessee society i.e. "Shri Guru Tegbhadur Education Society", had applied for Registration u/s 12AA of the Income-tax Act, 196( in short the Act) on 20/12/2016 but same was rejected by the ld CIT(E) on the ground that assessee favoured some students though fee concession etc. which was held as against stated objects of the society. 2.1 On further appeal, the Coordinate Bench of Tribunal in ITA No. 06/JAB/2021 vide order dated 21/07/2022 set aside the matter back to the ld CIT(E) for one more opportunity to the assessee for substantiating its claim. 2.2 Meanwhile, the assessee in view of amended provisions of registration u/s 12AB applied before the ld CIT(E) invoking section 12A(1)(ac)(v) of the Act. The relevant section provides for application for registration before the competent authority where the trust or institution has adopted or undertaken modifications of the objects, which don't conform to the conditions of registration, within thirty days from ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... to the letter, the assessee has submitted a reply along with the various documents. On perusal of the documents submitted by the assessee and documents available on record it is noticed that there is no change or modification in the objects of the society for which section 12A(1)(ac)(v) of the Act is applicable & rdquo; Considering the facts of the case, the application of the assessee is hereby rejected." 2.3 Thereafter, in compliance of the order of the Tribunal dated 21/07/2022, the ld CIT(E), vide his order dated 27/02/2023 allowed registration u/s 12AA for the period from AY 2017-18 to AY 2021-22 subject to certain conditions. The relevant part of his order granting registration is reproduced as under: V. In light of the aforesaid facts & circumstances and considering the application of the applicant and the material available on record, the applicant is hereby granted approval under section 12AA(1)(b)(ii) of the Income Tax Act, 1961 with effect from the assessment year 2017-18 to AY 2021-22 (After 01.04.2021, the new provisions of Section 12AB would apply)subject to the conditions mentioned under: 1- As and when there is a move to amend or alter the objects/rules and reg ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ch account shall be submitted to the Assessing Officer. A public notice of the activities carried on/ to be carried on and the target group(s) (intented beneficiaries) shall be duly displayed at the Registered/ Designated Office of the Organisation. 9- The Trust/ Institution shall furnish a return of income every year within the time limit prescribed under the Income Tax Act, 1961. 10- Separate accounts in respect of profits and gains of business incidental to attainment of objects shall be maintained in compliance to section 11(4A) of Income Tax Act, 1961. 11- The registered office or the principal place of activity of the applicant should not be transferred outside the jurisdiction of undersigned except with the prior approval. 12- No asset shall be transferred without the knowledge of undersigned to anyone, including to any Trust/ Society/ Non Profit Company etc. 13- The registration so granted is liable to be cancelled at any point of time if the registering authority is satisfied that activities of the Trust Institution/ Non Profit Company are not genuine or are not being carried out in accordance with the objects of the Trust/ Institution/ Non Profit Company. 14- ..... 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June, 2007; (aa) the person in receipt of the income has made an application for registration of the trust or institution on or after the 1st day of June, 2007 in the prescribed form and manner to the Principal Commissioner or Commissioner and such trust or institution is registered under section 12AA; (ab) the person in receipt of the income has made an application for registration of the trust or institution, in a case where a trust or an institution has been granted registration under section 12AA or has obtained registration at any time under section 12A [as it stood before its amendment by the Finance (No. 2) Act, 1996 (33 of 1996)], and, subsequently, it has adopted or undertaken modifications of the objects which do not conform to the conditions of registration, in the prescribed form and manner, within a period of thirty days from the date of said adoption or modification, to the Principal Commissioner or Commissioner and such trust or institution is registered under section 12AA; (ac) notwithstanding anything contained in clauses (a) to (ab), the person in receipt of the income has made an application in the prescribed form and manner to the Principal Commissioner ..... 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