SHREE SWATEMBER MURTIPUJAK JAIN TAPGACHH SANGH TIKER,MUMBAI vs. CIT(EXEMPTIONS),MUMBAI, MUMBAI
| आयकर अपीलीय अिधकरण ायपीठ, मुंबई |
IN THE INCOME TAX APPELLATE TRIBUNAL
“G” BENCH, MUMBAI
SHRI NARENDRA KUMAR BILLAIYA, HON’BLE ACCOUNTANT MEMBER
&
BEFORE SUNIL KUMAR SINGH, HON’BLE JUDICIAL MEMBER
I.T.A. No. 5878/Mum/2024
Assessment Years: 2024-25
Shree Swatember Murtipujak Jain
Tapgachh Sangh Tiker
B-19 Deora Building
Rani Sati Marg
Malad East
Mumbai - 400097
[PAN: AAMTS4143A]
Vs
CIT(Exemptions), Mumbai
अपीलाथ/ (Appellant)
यथ/ (Respondent)
Assessee by :
Shri Bhupendra Shah, A/R
Revenue by :
Shri Dr. Kishor Dhule, CIT D/R
सुनवाई की तारीख/Date of Hearing : 09/01/2025
घोषणा की तारीख /Date of Pronouncement: 13/01/2025
आदेश/O R D E R
PER NARENDRA KUMAR BILLAIYA, AM:
This appeal by the assessee is preferred against the order of the ld.
CIT (Exemptions)- Mumbai [hereinafter ‘the ld. CIT(E)’] dated
26/09/2024 by which the ld. CIT(A) has denied registration u/s 12AB of the Act.
2. Having heard the submissions made by the ld. Counsel for the assessee, we have carefully perused the order of the ld. CIT(E). The bone of contention is the clause in the trust-deed which reads “to do all such other things as are incidental or conducive to the attainment of the above objects or any of them.” which according to the ld. CIT(E) meant to utilize funds outside India. The ld. CIT(E) formed the belief that the assessee intends to utilize funds outside India and, therefore, denied registration.
I.T.A. No. 5253/Mum/2024
Before us, the ld. Counsel for the assessee took an undertaking that the Trust would amend the impugned objective so as to bring inline with the relevant provisions of the Act, if given a chance. 4. On such undertaking, we remit the matter to the file of the ld. CIT(E) to be decided afresh, if the assessee satisfies that the impugned objects have been duly amended. 5. In the result, appeal of the assessee is allowed for statistical purposes. Order pronounced in the Court on 13 January, 2025 at Mumbai. (SUNIL KUMAR SINGH) ACCOUNTANT MEMBER
Mumbai, Dated /01/2025
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आदेश की ितिलिप अेिषत /Copy of the Order forwarded to :
अपीलाथ / The Appellant 2. थ / The Respondent 3. संबंिधतआयकरआयु" / Concerned Pr. CIT 4. आयकरआयु" ) अपील ( / The CIT(A)- 5. िवभागीय ितिनिध ,आयकर अपीलीय अिधकरण, मुंबई /DR,ITAT, Mumbai, 6. गाड& फाई/ Guard file.
आदेशानुसार/ BY ORDER,