2024 (12) TMI 1792

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....n the facts and in the circumstances of the case, the order passed by ld CIT(Exemption) is bad in law and bad in facts. 2. That on the facts and in the circumstances of the case, the Id CIT(Exemption)grossly erred in rejecting the application for grant of registration u/s 10(23C) of the Act, particularly when the appellant trust fulfilled all the conditions for granting of registration as per provision of law. 3. That on the facts and in the circumstances of the case, the Id CIT(Exemption)grossly erred in recording the observation and allegation for rejecting the application for grant of registration u/s 10(23C) of the Act is contrary to material on record and also against the principle of natural justice. 4. That....

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....et entry dated 19.03.2024 fixing the case on 26.03.2024. In response assessee filed reply on 26.03.2024 but the reply of the applicant with annexure was examined and the ld. CIT(E) did not find eligible for the registration. It is noteworthy to mention that the ld. CIT(E) rejected the claim of registration u/s 12AB of the Act for which relevant details are mentioned are as under:- "in present case too applicant is generating huge surplus and profit that further is being applied in construction of school building and benefit is going in the hands of land owners. Hence, the application of the applicant for registration u/s 10(23C) is liable to be rejected on the ground of profitability and benefit to members and related pers....

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....ssessee to submit complete details/ information but the assessee had failed to give proper justification before him. Hence, in this situation, the ld. CIT(E) rejected the claim of registration u/s 12AB of the Act on the following grounds:- ● Non Registration under Rajasthan Public Trust Act, 1959 ● Construction on land owned by Trustees and siphoning off funds for benefit of trustees. ● Profitability The Bench noticed that it is an admitted fact that the earlier counsel did not furnish the details as sought by the Department and thus the according to the ld. CIT(E), the assessee had failed to justify the genuineness of the activities of the society . The Bench has noticed that the ld.AR of the....