Case Law Details
Swa Shri Haridas Narbheram Aashar Smarak Trust,Vs ACIT (ITAT Rajkot)
Ld. AR contended that the assessee is registered u/s 12A of the Act and therefore the income cannot be made subject to tax at the Maximum Marginal Rate.
On the other hand the Ld. DR contended that the assessee in the return of income not furnished the details for the registration u/s 12A of the Act.
From the proceedings discussion, ITAT note that the benefit of deduction u/s 11 of the Act has been denied by the authorities below primarily on the reasoning that the trust was not registered under the provision of section 12A of the Act. However, on perusal the submission filed by the assessee we note that the trust was registered u/s 12A of the Act bearing No. CIT-R/65-7- H/84-85. Thus, we find there is a contrary finding between the finding of authorities below vis-à-vis the submissions made by the assessee. On confrontation to the Ld. AR and the DR about the mismatch in the facts as discussed above, both of them prayed to restore the issue to the file of the AO for fresh adjudication as per the provision of law.
FULL TEXT OF THE ORDER OF ITAT RAJKOT
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