2014 (3) TMI 469

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....me of the assessee as per the computation of income given by the assessee at Rs. 1,20,96,858/- is the subject of controversy. 2. The issue that came up for consideration before the Assessing Officer was whether the assessee was justified in claiming the status of a trust. Ultimately as there was no registration under Section 12A of the Income Tax Act, so far as the assessee is concerned, the Assessing Officer opined that the assessee is an association of persons and not a trust as claimed by them. The assessment was completed treating the assessee as an association of persons, ultimately computing the tax and interest payable at Rs. 23,80,404/-. 3. Aggrieved by the same assessee approached the Commissioner of Income Tax(Appeals)[for short....

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....ining programme undertaken by the assessee is also education and therefore Section 12A registration has to be extended. The Tribunal after referring to the benefit enjoyed by the assessee i.e., exemption under Section 10(23C)(iiiad) for the earlier years and subsequent to 01.04.2005 opined that only for the relevant three assessment years including the present assessment year the assessee was put to difficulties by rejecting the registration. Opining that it was totally erroneous and unjustifiable, ultimately held the assessee was entitled for registration so far as the present assessment year also under Section 12A. 5. So far as book limit extension of Rs. 1Crore in particular, for the assessment year 2005-06, the Tribunal after referring....

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.... only controversy remains for consideration is whether Section 12A registration should be given for the assessment 2005-06. Apparently registration under Section 12A came into force with effect from 01.04.2005, therefore it would be applicable to the assessment year 2006-07. So far as 2005-06, there was no registration under Section 12A. Then one has to see whether receipts and other amounts cross beyond the limit of Rs. 1 Crore in order to obtain Section 12A registration or within one Crore so that automatically they get exemption as educational institution under Section 10(23C) (iiiad) of the Act. In order to consider this issue, the factual situation has to be ascertained. 7. From reading of the orders of Assessing Officer, CIT (Appeals....