No denial of registration u/s 12AB based on potential commercial activity in the future

Aruva Foundation Vs CIT (ITAT Indore) Conclusion: CIT(E) was not justified in denying assessee’s applications for final registration u/s 12AB / final approval u/s 80G as assessee had done only charitable activities till now and not undertaken any activity contemplated by object No. 2 & 3. Therefore, as and when the activity of Object No. 2 & 3 was actually undertaken by assessee in future, it would be a prerogative of Assessing Authority in that particular year, to ascertain the quantum of exemption u/s 11/12 available to assessee. Held: Assessee-company was incorporated u/s 8 of the...