TaxTMI 
TaxTMI 
2018 (3) TMI 1191
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....are that the assessee is a company incorporated u/s.25 of the Companies Act, 1956. It filed application in Form No.10A and in form No.10G on 20.07.2016 seeking registration u/s.12AA of the Income Tax Act, 1961 and approval u/s.80G of the Act. The CIT(E) refused to grant registration u/s.12AA and approval u/s.80G of the Act by observing as under :- II, I have gone through the information filed by the applicant company. Some of the objective clauses of the MoA are as under: 1) "To establish, help establish and / or manage laboratories, common facility centre prototype development centers, pilot plant production facilities, applied research centre, software development facilities, training and human resource development centr....
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....requiring high technologies inputs and translation of new technologies from laboratory scale to pilot plant scale and or commercial scale, manufacture of prototypes, manufacture of a certain batch of products for market testing, development of software and related products, training and human resource development activities, scientific work research in all related fields'" The above object clause is not specifying the projects for which high technologies are required and how the same are translated and useful for the general public at large. Further, the objective clause is not specifying the projects which it wants to undertake for the general public as claimed in its object and is of general in nature. III. In view of the above, I am ....
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....ed out that the committee discussed the proposal for setting up Technology Business Incubator (TBI) in Odisha and selected Kalinga Institute of Industrial Technology (KIIT) University, Bhubaneswar for this purpose which resulted in the incorporation of the assessee company as a non-profit making company u/s.25 of the Companies Act, 1956. The said Minutes of Meeting reads as under :- ITEM No.4 : Consideration & discussion on new proposals for establishment of TBIs 3. Kalinga Institute of Industrial Technology (KIIT) University, Bhubaneswar. The Committee discussed the proposal and took a note of the commitment and contribution of the KIIT management for making the proposed TBI a success. Since the region lacks the ....
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....reads as under :- "In exercise of the powers conferred by sub-section (1) of section 93 of the Finance Act, 1994 (32 of 1994) and in supersession of the Government of India in the Ministry of Finance (Department of Revenue) notification number 9/2007-ST, dated the 1st March,2007, published in the Gazette of India, Extraordinary, vide number G.S.R. 163 (E), dated the 1st March,2007, except as respects things done or omitted to be done before such supersession, the Central Government, on being satisfied that it is necessary in the public interest so to do, hereby exempts taxable services, provided or to be provided, by a Technology Business Incubator (TBI) or a Science and Technology Entrepreneurship Park (STEP) recognized by the Nat....
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....ology, Government of India or bio-incubators recognized by the Biotechnology Industry Research Biotechnology Industry Research Assistance Council, under the Department of Biotechnology, Government of India Nil Nil 10. It was his submission that in view of the above abundant evidences, which are filed before the Tribunal and which were also filed before the CIT(E), the CIT(E) was not justified in overlooking the same and refusing to grant registration u/s.12AA of the Act on whimsical grounds. Hence, he prayed that the order of the CIT(E) should be struck down and he be directed to grant registration u/s.12AA of the Act to the assessee. 11. On the other hand, the Department Representative vehemently argued in support of ....
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....efuse the registration u/s 12A of the Act. A perusal of the impugned order of the ld. DIT (Exemptions), however, shows that he has not recorded any adverse comment or dis-satisfaction about the object of the Trust or genuineness of the Trust activities. He has refused to grant the registration u/s 12A of the Act on the ground that its Trust Deed does not contain "dissolution clause". In our opinion, the ld. DIT (Exemptions) thus has clearly gone beyond the scope of enquiry contemplated u/s 12A of the Act and has refused to grant the registration u/s 12A of the Act to the assessee Trust on a totally irrelevant ground without pointing out as to how he was not satisfied either about the object of the Trust or the genuineness of its activities.....