Section 13(1)(b) not applies to a Religious trust with predominantly charitable objects

Jamiatul Banaat Tankaria Vs CIT (Exemption) (ITAT Ahmedabad) Income Tax Appellate Tribunal (ITAT) Ahmedabad has overturned an order by the Commissioner of Income-tax (Exemption) [CIT(Exemption)] that denied registration under Section 12AB of the Income-tax Act, 1961, to Jamiatul Banaat Tankaria. The Tribunal’s decision, pronounced on March 6, 2024, clarified the application of Section 13(1)(b) of the Act, emphasizing that it pertains to the grant of exemption under Section 11, not the initial registration under Section 12A/12AB. Jamiatul Banaat Tankaria, an established trust with existin...