2012 (11) TMI 395

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...., Judicial Member:-   The present appeal of the assessee is directed against the order of Director of Income-tax (Exemptions), Ahmedabad passed u/s 12AA of the Income-tax Act, 1961 (hereinafter referred to as 'the Act') vide dated 16-05- 2012. The assessee has raised solitary ground, which reads as under:- "1. The learned DIT(E) has erred in holding that the activities of the Trust is not g....

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....vity is not a sine qua non for granting registration u/s. 12AA of the Act and in support of this contentions, Ld. AR relied upon the order of the co-ordinate Bench rendered in the case of Panna Lalbhai Foundaion v the DIT (Exemption) in ITA No.1012/Ahd/2012 dated 20-07-2012. 4. On the contrary, Ld. SR-DR supported the order passed by Ld. DIT(E). He submitted a bare reading of Section 12AA would ....

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....ion for granting the registration u/s. 12A of the Act. Since the Hon'ble co-ordinate Bench in ITA No.1012/Ahd/2012 (supra) has taken a view that at the stage of registration satisfaction on genuineness of activity is not a pre-condition. In this view of the matter, Ld. DIT(E) ought to have granted registration when he was satisfied about the objects of the assessee-trust. This ground of assessee's....