Case Law Details
Brief of the Case
ITAT Delhi held In the case of M/s SRK Education & Research Charitable Trust vs. CIT that it is clear in this case that the CIT refused to grant the trust registration because there was no dissolution clause in the trust deed and also the assessee had not done any charitable activity. If later deed is revised by the assessee to incorporate dissolution clause, it is required to send back the matter to CIT for fresh consideration.
Facts of the Case
The assessee was constituted vide Trust Deed dated 21.10.2013 and applied for registration u/s 12AA and 80G. The CIT rejected both the application on the ground that the assessee had not done any charitable activity and also the trust deed does not specify how the property of the trust will be dealt with in the event of the dissolution of the trust. However CIT while rejecting the application gave a liberty to the assessee to file fresh application if and when it starts & carries on charitable work.
Please become a Premium member. If you are already a Premium member, login here to access the full content.