TaxTMI 
TaxTMI 
2025 (9) TMI 709
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.... "A. The order of the Adjudicating Authority in rejecting the application in terms of the proviso to Sec.215 is illegal, arbitrary and unauthorized. B. The impugned order is in conflict with the ratio of the Judgment of the Hon'ble Supreme Court reported in (2023) 4 SCC 561. It is submitted that the test laid down by the said Judgment stands satisfied in the case of the Appellant and therefore, the impugned order is liable to be quashed and set aside. C. The Adjudicating Authority went wrong in taking my opic view of the arguments and factual aspects canvassed before it. D. The Adjudicating Authority failed to take note of binding Judgments of the Calcutta High Court which was canvassed during the cour....
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....sessee also employed the Ex-Servicemen in various government undertakings so that they can earn for their livelihood after serving in the Army. The overall aim of the assessee is to give assistance to the Ex-Servicemen after their return to civil society and to the dependants and widows of the martyrs which could be treated as a noble thing. 3. Originally the assessee got registration u/s. 12A from 03/06/2004 and continuously availed the benefit u/s. 12AA/12AAB. The assessee's accounts were audited by the statutory auditors appointed by the C & AG and more than 85% of the revenue utilised towards the object of the company. However, in these circumstances, the assessee filed an application for registration u/s. 12A(1)(ac)(iii) of the Act.....
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....borately discussed the replies filed by the assessee and the reasons for rejecting the said application. 8. Nowhere the Ld.CIT(E) had considered the submission that the assessee is a company registered under sec 25 of the Companies Act in which it was clearly mentioned that when the assessee intends to apply its profits, if any, or other income in promoting its objects and to prohibit the payment of any dividends to its members, they are entitled for a licence from the Central Government under Sec 25. The assessee satisfied this requirement that their profits are utilised towards the objects and no dividends has been given to the members and therefore from the date of establishment and till date, the company is recognised as a section 25....
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....nts who are all in need of some benefits after the retirement from their military service. Further, the assessee was also assisting the widows of the Ex-Servicemen who are all killed in war and operations for safeguarding the nation. Therefore, the activities / service done by the assessee is nothing but a noble service and the same should be appreciated by all the authorities. 10. We have also gone through the findings and the other records including the financial statements of the assessee corporation from which we are able to find that the assessee is not running a company for earning profits and to get more dividend from the said operation. As already stated, the assessee is a section 25 company and therefore there is no point of ear....