Section 12AA of Income-Tax Act, 1961 deals with Procedure for Registration of a Charitable Trust or institution
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Section 12AA provides the procedure relating to registration of a trust or institution engaged in charitable activities. Section 12AA(3) currently provides that if the activities of the trust or institution are found to be non-genuine or its activities are not in accordance with the objects for which such trust or institution was established, the registration granted under section 12AA can be cancelled by the Commissioner after providing the trust or institution an opportunity of being heard.
n the recent past the question of interpretation of newly inserted section 12AA( with effect from 01/04/1997) has always been perennial teaser not only to the trust or institutions but also to the Revenue Department as also faced by the judiciary. To get the answer we have heard both the sides at length, carefully perused the impugned order and also several correspondences filed in the compilation in the light of the case laws cited
Explore the legal case of Aggarwal Mitra Mandal Trust vs. DIT (Exemption) (2007) 293 ITR (AT) 259 (Delhi) where the Income Tax Appellate Tribunal granted insights into the denial of registration under Section 12A. Understand the significance of the CIT’s role in assessing the genuineness of trust activities and objects, and how Section 13(1) applies during income computation. Get detailed analysis and key takeaways from this crucial legal precedent.
Even if the ground about contravention of the provisions of Section 11(5) of the Act is validly taken by the respondent, the same would have a bearing only at the point of time of the assessment of the petitioner-trust and would not be a material consideration in so far as granting of approval under Section 80G(5) of the Act is concerned.
