Case Law Details
Keeday Makauday Foundation Vs CIT (ITAT Jaipur)
ITAT Jaipur held that CIT(Exemption) not justified in denying the registration under section 12AB of the Income Tax Act as the foundation/ trust duly supplied all the desired information as per the query letter.
Facts- The assessee foundation filed application online dated 31-03-2022 in Form No. 10AB seeking registration u/s 12AB of the Act.
CIT(E) took the reference of Rule 17A of Income Tax Rules, 1962 whereby the assessee foundation is required to produce documents regarding establishing of the trust/society for verification and in order to decide the matter of seeking registration u/s 12AB the genuineness of the activities of the assessee trust /institution being undertaken and its object are required to be examined by the ld. CIT(E). From the submissions/ documents filed by the assessee foundation, the ld. CIT(E) noted that the assessee trust does not perform the activity of charitable in nature but business activities are visible. Hence, the ld. CIT(E) rejected the application of the assessee for seeking registration u/s 12AB.
Conclusion- CIT(E) in first para that only part of the details were submitted by the applicant. However, we find that ld. CIT(E) did not mention in his order as to which details called out were not submitted by the assessee foundation.
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