2023 (7) TMI 675

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....aw and facts available on record. II. That the learned Commissioner of Income Tax (Exemptions) has not considered completely the information/evidence brought on records, in correct perspectives while denying the registration u/s 12AA of the Income Tax Act. III. While denying the registration u/s 12AA of the Act, the learned Commissioner of Income Tax (exemptions) never held that the Trust was not for charitable purposes as defined us 2(15) of the - Income Tax Act 1961. IV. The Ld. CIT(A) has erred on facts and in law in rejecting the application for grant of registration u/s 12AA of Income Tax Act, 1961 of the Appellant on the basis of apprehensions and presumptions for an event that might happen in future and not....

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....he ground that its trust deed does not contain dissolution clause and on totality of irrelevant ground without pointing out as to how he was not satisfied either about the objects of trust of the genuineness of its activities. 5. Lastly, placing reliance on the judgment of Hon'ble High Court of Bombay in the case of CIT(E) vs Tara Educational & Charitable Trust the ld. counsel submitted that the Hon'ble High Court has upheld the said order of ITAT Mumbai Bench and submitted that in absence of the clause of dissolution in the trust deed would in no manner and impediment in the operation of the statue. The ld. counsel submitted that if it is found necessary then the assessee is ready to include dissolution clause in its trust deed and copy....