2007 (2) TMI 215

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.... is aggrieved by an order dated January 31, 2006, passed by the Income-tax Appellate Tribunal, Delhi Branch "F", in I. T. A. Nos. 944 and 945/D/2002 relevant to the assessment years 1997-98 and 1998-99. 2. The assessee is registered with the Revenue under section 12A of the Income-tax Act, 1961, as a charitable organisation. The objects of the assessee have been reproduced in the order of the Com....

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....s and activities that are incidental to ancillary to the main objects." 3. The assessee filed an application in Form No. 10 in terms of rule 17 of the Income-tax Rules for permission to accumulate Rs. 14,88,047 and Rs. 16,43,650 in the two assessment years that we are concerned with. The application was made with reference to section 11(2) of the Act. 4. In the application, the assessee stated t....

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....st as charitable activities covered by section 2(15) of the Act. 6. As regards the first issue considered by the Assessing Officer, namely, that the assessee had not specified in Form No. 10 the purpose for which the accumulation was sought to be made, our attention has been drawn to a decision of this court in CIT v. Hotel and Restaurant Association [2003] 261 ITR 190. In that case, a similar ar....

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....view in DIT (Exemption) v. Trustees of Singhania Charitable Trust [1993] 199 ITR 819. 9. The second issue relates to actual utilisation of the amount for the purposes of the trust. The Tribunal has taken the view that since the assessee had not complied with the provisions of the Foreign Contribution (Regulation) Act, 1976, an order was passed under section 12 thereof prohibiting the bank in whic....