Case Law Details
Lady Tata Memorial Trust Vs CIT (Exemption) (ITAT Mumbai)
When we examine the questions raised by the assessees according registration under section 12A by the Ld. PCIT subject to certain conditions in the light of the provisions contained in the scheme of the Income Tax Act, 1961, registration under section 12A cannot be subjected to any condition as there is an ‘inbuilt mechanism’ to be complied with by the assessee after getting the registration under section 12AA of the Act. Furthermore, compliance of the conditions by the assessees is to be examined by the Assessing Officer (AO) during the assessment proceedings. The role of the Ld. PCIT while according registration under section 12A is only to make himself satisfied about the genuineness of the activities to be carried out by the assessee trust and the compliance of such requirement of any other law for the time being in force by the trust or institution material to achieve its object and then to accord the registration. So we are of the considered view that conditions imposed by the Ld. PCIT while according registration under section 12A of the Act are not sustainable in the eyes of law. I
FULL TEXT OF THE ORDER OF ITAT MUMBAI
Since common questions of facts and law have been raised in both the inter-connected appeals, the same are being disposed of by way of consolidated order to avoid repetition of discussion.
2. The appellants, M/s. Lady Tata Memorial Trust & M/s. Lady Meherbai D. Tata Education Trust (hereinafter referred to as ‘the assessees’) by filing the present appeals, sought to set aside the impugned order dated 24.09 .2021 passed by Principal Commissioner of Income Tax, Mumbai [hereinafter referred to as the PCIT] qua the assessment year 2022-23 to 2026-27 on the grounds inter alia that :-
Please become a Premium member. If you are already a Premium member, login here to access the full content.
