2014 (1) TMI 1034

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....t : Shri D. Sudhakar Rao ORDER Per Saktijit Dey, J. M. This appeal filed by the assessee trust against the Order of the DIT(E), Hyderabad dated 31.12.2012 in refusing to grant registration under section 12AA of the Act. 2. There is a delay of 28 days in filing the appeal. The assessee has filed a delay condonation petition along with an affidavit stating the reasons for delay. After co....

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....f business by the trust is not the prerequisite to grant registration under section 12A and approval under section 80G of the Act. 4. In the proceeding taken-up in pursuance to the direction of the ITAT, the DIT(E) called upon the assessee to submit a note about the specific activities carried out by the assessee along with other details. He further asked the assessee to explain as to how the p....

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....balance both from interest on FD and interest on SB are shown at Rs.1,15,753/-. From this, the DIT(E), inferred that there was no outgoing/expenditure either during the financial year 2008-2009 or 2009-2010. He further observed that the corpus fund of Rs. 10 lakhs has not been deposited in the bank account of the trust. He also observed that the assessee has not maintained separate books of accoun....

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....2A and approval under section 80G have again been rejected on the very same ground of non- commencement of activities by the trust, thereby, completely ignoring the directions of the Tribunal. When the assessee has produced all facts relating to the activities of trust and also its financial statements and there is no adverse finding by the DIT(E) with regard to the genuineness or nature of activi....