Appeal Details
Counselvise Citation
12921114 RSA 2015
Assessee PAN
Bench
Appeal Number
Duration Of Justice
6 month(s) 21 day(s)
Appellant
Respondent
Appeal Type
Income Tax Appeal
Pronouncement Date
31-08-2015
Appeal Filed By
Assessee
Order Result
Allowed
Bench Allotted
A
Next Hearing Date
31-10-2016
Assessment Year
misc
Appeal Filed On
09-02-2015
Judgement Text
IN THE INCOME TAX APPELLATE TR IBUNAL BANGALORE BENCH A, BANGALORE BEFORE SMT. ASHA VIJAYARAGHAVAN, JM AND SHRI S. RIFAUR REHMAN, AM ITA NO.129(B)/2015 MEERABO GLOBAL FOUNDATION, C/O VIBGYOR HIGH , SURVEY NO.46/2, VITTASANDRA VILLAGE, BEGUR HOBLI, BANGALORE-560 068 PAN NO.AABAS3319N APPELLANT VS THE COMMISSIONER OF INCOME-TAX(EXEMPTN.) CR BUILDINGS, 3 RD FLOOR,, QUEENS ROAD, BANGALORE RESPONDENT ASSESSEE BY : SHRI SATISH R MODY, ADVOCATE REVENUE BY : SMT NEERA MALHOTRA, CIT DATE OF HEARING : 27-08-2015 DATE OF PRONOUNCEMENT : 31-0 8-2015 O R D E R PER SMT ASHA VIJAYARAGHAVAN, JM: THIS APPEAL HAS BEEN FILED BY THE ASSESSEE AGAINST THE ORDER OF THE CIT(EXEMPTION), BANGALORE DATED 29-12-2014 PASSED U/S 12AA(1)(B)(II) OF THE IT ACT, 1961, WHEREIN THE APPLICATION FOR REGISTRATION OF THE TRUST WAS REJECTED. 2. THE ASSESSEE M/S MEERABO GLOBAL FOUNDATION HAS FILED AN APPLICATION ON 03-06-2014 FOR REGISTRATION OF CHARITABLE OR REL IGIOUS TRUST OR INSTITUTION U/S 12A OF THE IT ACT, 1961. ITA NO.129(BANG)2015 2 3. THE CIT(EXEMPTN.), BANGALORE HELD THAT THE APPL ICATION FILED IS DEFECTIVE AND THE COPY OF THE TRUST DEED FILED IS DEFECTIVE I N A MUCH AS THE NECESSARY CLAUSES REQUIRED TO BE INCORPORATED IN THE DEED ARE NOT FORTH COMING. IT WAS OBSERVED BY THE CIT(EXEMPTN.) THAT THE NECESSARY CL AUSES TO BE INCORPORATED IN THE DEED ARE 1) INVESTMENT CLAUSE 2) ACCOUNT CLAUSE 3) AMENDMENT CLAUSE 4) DISSOLUTION CLAUSE 5) IRREVOCABILITY CLAUSE 6) BENE FICIARY CLAUSE AND 7) UTILIZATION CLAUSE. IN THIS CONNECTION, THE APPLICANT WAS AFFOR DED OPPORTUNITIES OF BEING HEARD BY THE CIT(EXEMPTN.) 4. THE CIT(EXEMPTN.) HAS HELD AS UNDER; THE NON-COMPLIANCE TO THE STATUTORY REQUIREMENTS , IT IS CLEAR THAT THE APPLICANT IS NOT INTERESTED IN PROSECUTION OF THIS APPLICATION AND THEREFORE, DESERVES TO BE DISMISSED ON THIS ACC OUNT ALONE. THE LAW ASSISTS THOSE WHO ARE VIGILANT AND NOT THOSE WH O SLEEP OVER THEIR RIGHTS. THIS PRINCIPLE IS EMBEDDED IN THE WE LL KNOWN DICTUM VIGLANTUS NON-DORMANTIBUS SUBVENIUNT. COURTS IN SEVERAL CASES CASES HAVE UPHELD THIS DICTUM. LACK OF DILIGENCE A ND FOLLOW UP ON THE PART OF THE ASSESSEE HAS BEEN FROWNED UPON BY V ARIOUS COURTS A UNDER; 106 ITR 653 (SC) 118 ITR 461(SC) 286 ITR 688 (MP) 257 ITR 301(DELHI) S130 TAX MAN 61 (MAD.) THE APPLICATION FOR REGISTRATION U/S12AA IS HEREBY STANDS REJECTED. ITA NO.129(BANG)2015 3 AGGRIEVED, THE ASSESSEE PREFERRED AN APPEAL BEFORE THE INCOME-TAX APPELLATE TRIBUNAL. THE LEARNED COUNSEL FOR THE ASSESSEE TOOK US THROU GH THE TRUST DEED PRODUCED AT PAGES 19 TO 48 OF THE PAPER BOOK. HE F URTHER POINTED OUT THE VARIOUS CLAUSES WHICH ARE INCORPORATED IN THE DEED WHICH HA VE BEEN OVERLOOKED BY THE CIT(EXEMPTN.) ON THE REQUEST FROM THE BENCH, THE LEARNED COUNSEL HAS PRODUCED THE DETAILS AS UNDER; SL.NOS. PAPER BOOK PAGE NO. CLAUSE NO. OF TRUST DEED 1. INVESTMENT CLAUSE 41 23 2. ACCOUNT CLAUSE 41 21 3. AMENDMENT CLAUSE 48 35 4. DISSOLUTION CLAUSE 47 34(E) 5. IRREVOCABILITY CLAUSE - A TRUST IS ALWAYS IRRE VOCABLE UNLESS SPECIFICALLY PROVIDED 6. BENEFICIARY CLAUSE 27 4(A) 7.UTILIZATION CLAUSE 27 4 WE FIND THAT THE ASSESSEE HAS FULFILLED ALL THE REQ UIREMENTS AND THE CIT(EXEMPTN.) HAS WRONGLY OBSERVED THAT THE APPLICA NT IS NOT INTERESTED IN PROSECUTION OF HIS APPLICATION, ESPECIALLY WHEN ALL THE DETAILS HAVE BEEN GIVEN BY THE APPLICANT. ITA NO.129(BANG)2015 4 IN THESE CIRCUMSTANCES, WE SET ASIDE THE ISSUE TO THE CIT(EXEPTN.)AND DIRECT HIM TO EXAMINE THE INDEN TURE OF TRUST IN ORDER TO GRANT REGISTRATION U/S 12A OF THE IT ACT, 1961. 8. IN THE RESULT, THE APPEALS FILED BY THE ASSESSEE ARE ALLOWED FOR STATISTICAL PURPOSES. ORDER PRONOUNCED IN THE OPEN COURT ON THE 31 ST AUGUST, 2015. S D / - (S.RIFAUR RAHMAN) SD/ - (ASHA VIJAYARAGHAVAN) ACCOUNTANT MEMBER JUDICIAL MEMBER BANGALORE: D A T E D : 31-08-2015 AM* COPY TO : 1 APPELLANT 2 RESPONDENT 3 CIT(A)-II BANGALORE 4 CIT 5 DR, ITAT, BANGALORE. 6 GUARD FILE BY ORDER, AR,ITAT, BANGALORE
