New Education Society Vs CIT (ITAT Pune)
ITAT Pune held that since object of the trust are charitable in nature and genuineness of activity is established by documents, assessee is eligible for registration under section 12A read with section 12AB of the Income Tax Act. Accordingly, appeal of assessee allowed.
Facts- The present appeal has been preferred by the assessee-trust. Notably, CIT(E) has rejected the application of the assessee for registration under section 12A read with section 12AB of the Income Tax Act. CIT(E) held that application is rejected since the assessee has failed to furnish the details called for under the provisions of section 12AB(1) (b) (i) of the Income Tax Act, 1961 to verify the genuineness of activities of the trust / institution and to verify the compliance to requirements of any other law for the time being in force by the trust / institution as are material for the purpose of achieving its objects.
Conclusion- Held that Assessee‟s objects are Charitable in nature as defined in section 2(15) of the Act, the activity of running an approved school and college is as per the objects, Genuineness of activity is established by the documents, the ld. Commissioner of Income Tax(Exemption) has not brought on record any violation of any applicable law, hence for all the reasons and facts discussed in earlier paragraphs, we are of the opinion that the Assessee is eligible for Registration u/s.12A r.w.s. 12AB of the Act. Accordingly, we direct the ld. Commissioner of Income Tax(Exemption)-Pune to Grant the Registration to the Assessee.
