Rejection of application for Registration U/s. 12AA for No beneficiary clause in trust deed

Krishan Kanya Mahavidyalya Vs. CIT(Exemption) (ITAT Amritsar)

We are of the considered opinion that the learned Commissioner (Exemp­tion) has rightly passed the order under challenge for denying the regis­tration under section 12AA of the Act in the absence of dissolution clause and beneficiary clause in the memorandum of understanding of the soci­ety. However, in the interest of justice, we give opportunity to the appli­cant/appellant to approach the learned Commissioner (Exemption) by making fresh application while incorporating the dissolu­tion clause and beneficiary clause and getting the same registered in the office of the Registrar of the Societies of Registration Act and the learned Commissioner (Exemption) is requested to expedite the application of the assessee, if file afresh and adjudicate the same de novo.

FULL TEXT OF THE ITAT ORDER IS AS FOLLOWS:-

The instant appeal has been preferred by the assessee, on feeling aggrieved against the order dated 31-8-2016 passed by the learned Commissioner (Exemption), Chandigarh under section 12AA of the Income Tax Act.

2. The assessee has raised the following grounds of appeal :–

Please become a Premium member. If you are already a Premium member, login here to access the full content.