TaxTMI 
TaxTMI 
2014 (1) TMI 1033
X X X X Extracts X X X X
X X X X Extracts X X X X
.... programmes and support to poor. The author of the trust is 100% subsidiary of a multinational company from Netherlands viz., M/s. SHV Calor Asia B.V. The assessee applied for registration under section 12AA of the Act before the DIT(E) on 09.09.2011. The DIT(E) taking umbrage to the fact that clause 10 of the trust deed makes the trust revocable as its continuity is subject to the will of its author, which in turn, is controlled by the Dutch multinational company, held that it cannot be treated as a wholly public charitable trust. Hence, he refused to grant registration under section 12AA of the Act. 3. Being aggrieved of denial of registration under section 12AA, the assessee preferred an appeal before the ITAT. The ITAT vide order dated....
X X X X Extracts X X X X
X X X X Extracts X X X X
....ration under section 12AA of the Act observing as under : "5. I have duly considered the submissions of the learned A.R. made today and perused the said draft trust deed. The said draft document with heading "Amended And Restated Trust Deed" with the first sentence mentioned as "This Amended and Restated Trust Deed made on this the ___ day of February, 2013 at Hyderabad", which is not signed by any trustee, is a vague document and in my view, no cognizance can be taken thereof at this stage during the present proceedings." 5.1. As per the observations made by the Hon'ble ITAT in para 7 of their order reproduced above, the assessee trust was required to make necessary amendment to their trust deed for the purpose of registration to their ....
X X X X Extracts X X X X
X X X X Extracts X X X X
....he original amended deed with signatures of all concerned before the DIT(E). In this context, the learned A.R. drew our attention to the letter dated 31.05.2013 addressed to the DIT(E) and the draft trust deed at pages 20 and 22 of the paper book. It was therefore, submitted that the DIT(E) was totally wrong in commenting that the draft trust deed is a vague document and since no amendment has been carried out by the assessee in terms of the direction of the Tribunal, registration cannot be granted to the assessee. 6. The learned D.R. on the other hand, submitted that matter may be remitted back to the DIT(E) for fresh consideration. 7. We have heard the parties and perused the order of the DIT(E) and other materials on record. As would b....