CIT(E) erred in concluding no activities by Trust: ITAT orders fresh consideration

Mysore Brindavan Sky Trust Vs CIT (Exemptions) (ITAT Bangalore) Assessee is a charitable Trust promoting Yoga Practices founded on 01.01.2009, as the Trust intended to expand its activities applied for Registration u/s 12AB   as per Form 10AB e-filed. CIT(E)   noted that Assessee has made minimal amount of expenditure towards the object of the Trust & no expenditure has been debited from bank account. Further, the fees received for various yoga programs does not match with the income as per the financial statements. CIT(E) thus ruled that assessee has not commenced its activities towar...