TaxTMI 
TaxTMI 
2026 (4) TMI 327
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..... 2. Heard and perused the record. The appellant trust is established on 22.02.2017 and had obtained provisional registration from CPC on 27.05.2021 valid for the period from AY: 2021-22 to AY: 2023-24 u/s 12A(1)(ac)(iii) of the Act. Subsequently, it obtained another provisional registration on 04.10.2021 for the period from 2023-24 to AY: 2025-26. Thereafter, the present application in the Form 10AB seeking regular registration u/s 12A(1)(ac)(iii) of the Act was filed on 28.06.2024 upon which the competent authority issued questionnaire calling details and after considering the submissions of the assessee the competent authority observed that assessee has credited NIL income in FY: 2023-24 & FY: 2022-23. Further competent authority obse....
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....on filed on 1 August 2024 was valid from A. Y 2021-22 to A. Y 2023- 24. The order for provisional registration enclosed as Annexure 3C of our submission filed on 1 August 2024 is valid from A. Y 2023-24 to A. Y 2025-26. The said Annexures are enclosed again herewith for ready reference." The applicant has failed furnish the reasons for applying for two provisional registration. 5. In view of the above, it is evident that the applicant has not carried out any activity during the F.Y 2023-24 and F.Y 2022-23. Thus, it does not qualify for registration u/s 12AB of the I.T Act. Hence, the application filed in Form 10AB on 28.06.2024 for grant of registration u/s 12A(1)(ac)(iii) of the Income Tax Act, is hereby....
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....circumstances of the case and in law, the Commissioner of Income-tax (Exemption) erred in not appreciating the fact that the Appellant had, through its submission dated 22 November 2024 as well as during the course of personal hearing on 11 December 2024, filed the details of contributions received and donations given during the period from FY 2018-19 to FY 2021-22, and that the Appellant is expected to play a vital role in the near future for carrying out CSR activities for its settlor, viz. Bajaj Auto Limited. 5. On the facts and in the circumstances of the case and in law, the Commissioner of Income-tax (Exemption) erred in observing that the Appellant has failed to furnish the reasons for applying for two provisional registrati....
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....t deed there was no adverse inference or observation of the competent authority that the same are not charitable in nature. We have gone through the same and find that the charitable activities of the trust are for the purpose of relief to poor, education, preservation of environment and preservation of human monument or place of artistic and historic which are general in nature. At the time of application certified copies of audited annual accounts for FY: 2022-23, 2021-22 & 2020-21 and ITRs for each year were enclosed, copies of bank statements and details of donations were also provided. 7. We find that at page 52 there is a receipt dated 10.02.2022 which shows that assessee had donated Rs. 3,65,000/- to one NGO donations to which wer....
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.... of the same is reproduced below: 10. It was argued before us that the Commissioner is required to be satisfied about two things - firstly that the objects of the trust and secondly, its activities are genuine. If there have been no activities undertaken by the trust then the Commissioner cannot assess whether such activities are genuine and therefore, the Commissioner is bound to refuse the registration of such a trust. 11. We have given our anxious consideration to the above submissions made by Ms. Aishwarya Bhati, learned Senior Counsel appearing for the appellant - Director of Income-tax and find that it is not possible to agree with the same. The purpose of section 12AA of the Act is to enable registration only of suc....