2025 (7) TMI 1304

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....(ITAT), Bengaluru. ORDER PER PRASHANT MAHARISHI, VICE PRESIDENT 1. This appeal is filed by Shri Ram Global (the assessee/appellant) against the order passed by the CIT(Exemptions) [ld. CIT] dated 25.3.2025 for rejection of registration u/s. 12AB of the Income-tax Act, 1961 [the Act]. 2. The assessee is aggrieved that the ld. CIT has rejected the application made by the assessee in Form 10AB ....

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....ts of the trust as at 31.3.2024 wherein as per Income & Expenditure A/c assessee received voluntary contribution of Rs. 42,000 and FD interest of Rs. 1,00,879. Assessee was granted provisional registration vide letter dated 5.9.2023. 4. The ld. ITO(E), Ward 3, Bengaluru in connection with above application issued a letter dated 17.12.2024 raising 20 questions which was replied by the assessee on ....

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....e any expenditure towards the object, therefore the assessee has not commenced its activities towards the objects of the trust and therefore rejected the application. 5. The assessee aggrieved with that, preferred appeal before and filed a paperbook containing 199 pages. The ld. counsel, Mr. Deepak Chopra, CA and the ld. CIT(DR) Shri Murali Mohan were heard. 6. On careful perusal of the details ....

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.... Mahindra Bank and term loan statement from Kotak Mahindra Bank, which clearly show that there are substantial activities carried on by the assessee. To support its contention, the assessee furnished a lease deed dated 26.6.2023 and also submitted copies of bills for construction of school along with purchase bills of building material. The ld. CIT despite all these facts and merely considering th....