TaxTMI 
TaxTMI 
2018 (8) TMI 195
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....interest of justice. 2. For that, the reason assigned by the learned C.I.T(Exemptions) in his order is not only illegal but also contrary to the facts on record, as such the impugned observation needs to be rejected in the interest of justice. 3. For that, the learned C.I.T. (Exemptions) should not have rejected the Application for grant of registration U/S.12AA on the ground that, the amendment clause does not specifically stipulates that, the Amendment shall be carried out only with the prior approval of the C.I.T(Exemptions). 4. For that, the learned C.I.T. (Exemptions) should not have rejected the application on the ground that, Assessee has not mentioned that, unwinding up the Society, the remaining Assets shall be transferred....
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....ng registration to the assessee society are not correct. He pointed out from Memorandum of Association and Article of Association of the assessee society that there is an amendment clause and dissolution clause which read as under: Amendment clause: "Any amendment in Memorandum and Bye-law of the society shall be made as per section 12 of Society Registration Act XXI of 1860." Dissolution clause: The society may be dissolved by 3/5th of members. Upon dissolution of the society its assets will be handed over to similar registered society or to Government after clearing up all its debts and liabilities. Ld A.R. filed a copy of the order of this Tribunal in the case of Indo Swedish Rheumatology Foundation vs CIT(E) in ITA Nos.354 ....
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....tes that there is no intention on the part of the society to invest the funds in the modes specified under the provisions of section 11(5) r.w.s 13(1)(d) of the Act." 11. We find that the reasons for rejecting the registration in Ground No.(ii) and (iii) are covered by the decision of this Bench of the Tribunal in the case of Indo Swedish Rheumatology Foundation (supra), wherein, it has been held as under: 3. Brief facts of the case are that the CIT(E) refused to grant registration u/s.12AA of the Act to the assessee trust on two grounds : i) the amendment clause in the trust deed does not specifically stipulate that the amendments shall be carried out only with the prior approval of the CIT(E). ii) the investment clause has not b....
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....w he was not satisfied either about the object of the Trust or the genuineness of its activities." 5. We find that in the present case also the CIT(E) has refused to grant registration u/s.12AA of the Act to the assessee trust on the ground that amendment clause does not provide for prior approval of the CIT(E) before carrying out the amendment in the trust deed. We find that there is no such provision in the Act for refusal to grant registration to the assessee trust. Thus, the refusal to grant registration on this ground is an irrelevant ground and, hence, not sustainable. 6. With regard to objection regarding investment clause stating that there was no intention on the part of the assessee trust to invest the funds in the modes spe....