TaxTMI 
TaxTMI 
2012 (10) TMI 1036
X X X X Extracts X X X X
X X X X Extracts X X X X
....nd health sciences education, basic and clinical research opportunities, and other health care-related delivery opportunities at the University of Rochester and the University of Rochester Medical Center for Indian students, researchers, and faculty members of key Indian academic and clinical institutions. It is stated that in pursuance of aforesaid objective, assessee has carried out the following activities i.e. to collect, process and analysis the information regarding education provided by various medical colleges in India and research work carried out by them in India. Assessee filed an application in Form No.10A on 21.9.2010 for registration under section 12A of the Act. The DIT (Exemption) rejected the registration under section 12A ....
X X X X Extracts X X X X
X X X X Extracts X X X X
....e assessee for registration under section 12A is not justified. 4. On the other hand, ld D.R. relied on order of DIT(Exemptions). 5. We have considered submissions of ld representatives of parties and order of DIT (Exemption). 6. There is no dispute to the fact that assessee has been registered under section 25 of the Companies Act. Assessee has made an application for registration in the prescribed form and in the prescribed manner for grant of registration under section 12A of the Act. There is no dispute to the fact that under section 12AA of the Act, the Commissioner, on receipt of an application for registration of a trust or institution made u/s 12A, shall call for such documents or information from the trust or institution as he t....
X X X X Extracts X X X X
X X X X Extracts X X X X
....ation, the association shall enjoy all the privileges, and (subject to the provision of sec. 25 of the Companies Act) be subject to all the obligations, of limited companies. In the present case, it is not in dispute that the Central Government has directed that the assessee association is to be registered as a company with limited liability. It is thus proved that this association has been formed as a limited company for promoting commerce, art, science, religion, charity or any other useful objects and it intended to apply its profit if any, or other income, in promoting the aforesaid objects. Assessee is also prohibited from making payment of any dividend to its members. Therefore, prima facie, assessee association registered as a limite....