2024 (1) TMI 876

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.... This appeal preferred by the assessee emanates from the order of Commissioner of Income Tax (Exemption), Pune (for short, "IT(E)"), dated 27.09.2023 as per the grounds of appeal on record. 2. That, on perusal of the grounds of appeal, it is evident that solitary grievance of the assessee is the rejection of registration to the assessee-trust u/sec. 12AB of the Act by the ld. CIT(E). 2.1 At th....

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....sessee has nothing to say further in the matter. Therefore, at para 7, ld.CIT(E) held that it was not possible to arrive at satisfactory conclusion about the genuineness of the activities and compliance of requirements of any other law for the time being in force by the trust/institution, the application of the assessee was rejected. 3. We are of the considered view that it is a case where the ap....

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....urtherance to the Directive Principles of State Policy are achieved. These provisions for the trust registration u/sec. 12A and granting of exemption u/sec. 80G enhance the socio economic welfare in the society. Furthermore, the Income Tax laws are welfare legislations and not penal in nature. Therefore, in the interest of justice and considering all the afore-stated observations, we are of the co....