Section 12A Registration Cannot Be Denied for Absence of Irrevocability Clause: ITAT Delhi

Shri Gurudev Ashram Trust Vs CIT (ITAT Delhi) The Income Tax Appellate Tribunal (ITAT), Delhi, allowed the assessee’s appeal for statistical purposes and set aside the order of the Commissioner of Income Tax (Exemptions) [CIT(E)] rejecting the trust’s application in Form 10AB for registration under Section 12A of the Income-tax Act. The CIT(E) had rejected the application on the ground that paragraphs 17 and 18 of the trust deed did not specify whether the trust was revocable or irrevocable, nor did they provide for the transfer of the trust’s assets in the event of dissoluti...