2010 (12) TMI 1310

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....: Shri Tapas Kumar Dutta ORDER PER HARI OM MARATHA, JUDICIAL MEMBER: This appeal of the assessee is directed against the order of learned Commissioner of Income Tax (Administration), Salem, dated 29.01.2010 whereby the assessee was refused to grant registration under section 12AA of the Income-tax Act, 1961 (hereinafter called as "the Act"). 2. In brief, the facts of the case are that ....

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....ax erred in refusing the Registration of the Trust u/s.12AA, by looking into the accounts of the Trust, while rejecting the registration u/s.12AA. (Relying on 163 Taxman 19-(All) and 24 SOT 14- (Agra). 4. The CIT erred in not considering the material fact that this is the first year, in which the appellant Trust had commenced its activity and that he erred in applying the decision reporte....

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....ting out as to how the activities of the appellant Trust amounted to activities on commercial lines. 8. The CIT erred in relying on the decision of the Supreme Court reported in AIR 1992 SC 1456 (this decision is also reported in (1992) 3 SCC 390), in spite of the finding by the Apex Court that 'charitable purpose' as found in Delhi Municipal Corporation Act is narrower in scope. ....

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....as been specifically mentioned as objects of the Trust. We are in agreement with the learned A.R. that the entire records called for by the Commissioner were produced before him. The Commissioner has looked into the profit and loss account and provisional balance sheet for the period 01.04.2009 to 31.12.2009 and therefrom he has found that there is a net profit and giving allied reasons, he has re....