CIT(E) cannot examine Income application during Trust Registration U/s. 12AA

Fateh Chand Trust & College Committee Vs CIT (Exemption) (ITAT Agra) Department Can Examine Only Object of the Trust and Not Application of Income at the Time of Granting of Registration of Trust FACTS – Assessee is society, engaged in running and maintenance of Fateh Chand Inter College. College is fully aided by UP Government and is engaged in imparting students free of cost. The payment of Salary to teaching staff is governed by the provisions of payment of Salary Distribution Regulation 1971 and the same is borne by the State Government. Revenue objected that huge sum of money was co...