ITO (E) 1(1), MUMBAI V. CANCER AID & RESEARCH FOUNDATION, MUMBAI

ITA 4789/MUM/2013

• Counselvise Citation: [2015] 134 COUNSELVISE.COM (IT) 2486 (ITAT-MUMBAI)
• Duration Of Justice: 2 year(s) 4 month(s) 23 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 13-11-2015
• Appeal Filed By: Department
• Order Result: Dismissed
• Bench Allotted: C
• Next Hearing Date: 29-01-2015
• Assessment Year: 2009-2010
• Appeal Filed On: 20-06-2013
• Result in Favour of: Assessee
• Court: TRIBUNAL
• Assessee Lawyers: CULLA MUMBAI PAN AAATCB
• Keywords: Depreciation; Charitable institution; Opportunity of being heard; Benefit of exemption; Cancellation of registration
• Section: 143(3); 142(1); 12AA; 12; 2; 11

Judgement Text

C IN THE INCOME TAX APPELLATE TRIBUNAL C BENCH, MUMBAI BEFORE SHRI SHAILENDRA KUMAR YADAV, JUDICIAL MEMBER AND SHRI RAMIT KOCHAR, ACCOUNTANT MEMBER ./ I.T.A. NO.4789 /MUM/2013 ( / ASSESSMENT YEAR : 2009-10) INCOME TAX OFFICER (EXEMPTION -1(1), R. NO. 505, PIRAMAL CHAMBERS,LAL BAUG, PAREL, MUMBAI- 400 012. / VS. M/S CANCER AID & RESEARCH FOUNDATION, 10 TH FLOOR, BRIDGE VIEW, 16 HANSARAJ LANE, BYCULLA, MUMBAI 400 027. ./ PAN :AAATC3013B ( / APPELLANT ) .. ( / RESPONDENT ) REVENUE BY SHRI C.W. ANGOLKAR (D.R.) R E SPONDENT BY : SHRI VIJAY MEHTA / DATE OF HEARING : 20.10.2015 / DATE OF PRONOUNCEMENT : 13.11.2015 !' / O R D E R PER RAMIT KOCHAR, ACCOUNTANT MEMBER : THIS APPEAL, FILED BY THE REVENUE, BEING ITA NO. 47 89/MUM/2013, IS DIRECTED AGAINST THE ORDER DATED 31-03-2013 PASSED BY THE LD. COMMISSIONER OF INCOME TAX (APPEALS)- 1 , MUMBAI (HEREINAFTER CA LLED THE CIT(A)), FOR THE ASSESSMENT YEAR 2009-10. 2. THE REVENUE HAS RAISED THE FOLLOWING GROUNDS OF APPEAL IN THE MEMO OF APPEAL FILED:- 1. THAT ON THE FACTS AND CIRCUMSTANCES OF THE CASE AND IN LAW, THE LD. CIT(A) ERRED IN HOLDING THAT THERE WAS NO CONTRAVEN TION OF PROVISIONS OF SECTION 13 IGNORING THE FACT THAT BMW CAR WAS PURCH ASED IN THE NAME OF THE TRUSTEE WHEREBY THE FUNDS OF THE TRUST WERE DIVERTE D AND USED FOR THE BENEFIT OF EXCLUDED PERSON AS COVERED WITHIN THE PROVISION OF SECTION 13( 1 )(C)(II) & ITA 4789/M/13 2 SECTION 13(2)(G) R.W.S. 13(3)(CC) OF THE INCOME TAX ACT, 1961 AND NO LOG BOOK WAS PRODUCED TO SHOW THAT THE SAID CAR WAS USED ONL Y FOR THE WORK OF THE TRUST. 2. THAT ON THE FACTS AND CIRCUMSTANCES OF THE CASE AND IN LAW, THE LD. CIT(A) ERRED IN HOLDING THAT THE ASSESSEE WAS ENTIT LED TO BENEFIT OF EXEMPTION U/S 11 AND DELETING THE ADDITIONS MADE ON ACCOUNT O F DONATIONS RECEIVED OF RS. 3,34,58,111/-, INCOME FROM OTHER SOURCES OF RS. 16,16,4021- AND INCOME OF RS. 5,13,384/- RECEIVED ON ACCOUNT OF INVESTMENT , IGNORING THE FACT THAT THERE WAS CONTRAVENTION OF PROVISIONS OF SECTION 13 OF THE INCOME TAX ACT, 1961. 3. THE APPELLANT CRAVES LEAVE TO AMEND OR ALTER ANY GROUND OR ADD A NEW GROUND WHICH MAY BE NECESSARY. 4. THE APPELLANT, THEREFORE, PRAYS THAT ON THE GROU NDS STATED ABOVE, THE ORDER OF THE CIT (A)-I, MUMBAI MAY BE SET ASIDE AND THAT OF THE ASSESSING OFFICER BE RESTORED. 3. THE BRIEF FACTS OF THE CASE ARE THAT THE ASSESSE E TRUST IS REGISTERED AS CHARITABLE ORGANIZATION WITH DIT (E), MUMBAI U/S 12 A OF THE INCOME TAX ACT, 1961 (HEREINAFTER CALLED THE ACT) AND ALSO REGIST ERED WITH THE CHARITY COMMISSIONER, MUMBAI. THE ASSESSEE TRUST CASE WAS SELECTED FOR SCRUTINY UNDER THE SELECTIVE SCRUTINY NORMS AND NOTICES U/S 143(2) & 142(1) OF THE ACT ALONG WITH QUESTIONNAIRE WERE ISSUED. IT WAS OBSER VED BY THE LD. ASSESSING OFFICER (HEREINAFTER CALLED THE AO) THAT THE OBJ ECTS OF THE ASSESSEE TRUST IS TO PROVIDE MONETARY, MEDICAL AND OTHER ASSISTANCE AND HELP TO THE NEEDY, DESERVING AND POOR PEOPLE WHO ARE SUFFERING FROM CA NCER IN PARTICULAR AND OTHER DISEASES IN GENERAL AND CANNOT AFFORD THE MED ICAL/SURGICAL TREATMENT RECOMMENDED BY THE SPECIALIST AND THEREBY HELP THEM , AS FAR AS POSSIBLE , TO LEAD A HEALTHY AND NORMAL LIFE. DURING THE COURSE O F ASSESSMENT PROCEEDINGS, THE AO OBSERVED THAT THE ASSESSEE TRUST HAS PURCHAS ED BMW CAR FROM THE FUNDS OF THE TRUST IN THE PERSONAL NAME OF THE TRUS TEE SHRI ABDUL QADIR KAZI VIDE BILL DATED 20.3.2009 FROM M/S NAVNIT MOTORS FO R RS. 32,20,000/- FOR WHICH THE PAYMENT HAS BEEN MADE BY THE TRUST FROM T HE FUNDS OF THE TRUST. HENCE, IN THE OPINION OF THE A.O., THE FUNDS OF THE TRUST AMOUNTING TO RS. 32,20,000/- HAVE BEEN DIVERTED AND USED FOR THE BEN EFIT OF EXCLUDED PERSONS ITA 4789/M/13 3 AS COVERED WITHIN THE PROVISIONS OF SECTION 13(1)(C )(II) AND SECTION 13(2)(G) READ WITH SECTION 13(3)(CC) OF THE ACT FOR WHICH NOTICE DATED 25 TH NOVEMBER 2011 WAS ISSUED U/S 142(1) OF THE ACT TO THE ASSESSEE TR UST ASKING TO FURNISH A REPLY AS TO WHY IT SHOULD NOT BE CONCLUDED THAT FUN DS OF THE TRUST AMOUNTING TO RS. 32,20,000/- HAVE BEEN DIVERTED AND USED FOR THE BENEFIT OF EXCLUDED PERSONS AS COVERED WITHIN THE PROVISIONS OF SECTION 13(1)(C)(II) AND SECTION 13(2)(G) READ WITH SECTION 13(3)(CC) OF THE ACT. 4. THE ASSESSEE TRUST IN REPLY TO NOTICE DATED 25 TH NOVEMBER 2011 TO AO SUBMITTED THAT THE PURCHASE OF THE CAR WAS FOR THE BENEFIT AND USE OF THE ASSESSEE TRUST AND FOR THE USE OF THE CHAIRMAN, TRU STEES AND INFLUENTIAL DONORS IN THEIR ROLE AND ACTIVITIES AS OFFICE BEARE RS/WELL WISHERS OF THE TRUST. THE ASSESSEE TRUST SUBMITTED THAT PROF.(RETD.) A.A. KAZI IS THE CHAIRMAN OF THE ASSESSEE TRUST AND ENTITLED TO SUCH FACILITIES THAT ARE PROVIDED BY THE ASSESSEE TRUST TO DO THE WORK FOR THE TRUST. THE CHAIRMAN D OES NOT DRAW ANY SALARY FROM THE ASSESSEE TRUST ALTHOUGH HE IS DEVOTING HIS FULL TIME TO THE ACTIVITIES OF THE TRUST. THE CHAIRMAN IS ENTIRELY DEVOTED TO THE ACTIVITIES OF THE ASSESSEE TRUST AND THE BMW CAR WAS USED ONLY FOR OFFICIAL AC TIVITIES INCLUDING MEETING DOCTORS, DONORS, SOCIAL PERSONALITIES, ORGANIZING/A TTENDING EVENTS TO RAISE AWARENESS AND MEETING GOVERNMENT OFFICIALS FOR APPR OVALS REQUIRED FOR THE ACTIVITIES OF THE TRUST. THE BMW CAR WAS PURCHASED AFTER A RESOLUTION APPROVING THE PURCHASE WAS PASSED BY THE TRUSTEES I N THEIR BOARD MEETING HELD ON MARCH, 07, 2009. THE BMW CAR WAS FINANCED BY AVAILING LOAN FROM THE ICICI BANK. THE LOAN WAS APPROVED AS A PURCHASE FOR THE ASSESSEE TRUST AND ON THE BASIS OF THE FINANCIAL POSITION OF THE A SSESSEE TRUST BUT THE BMW CAR WAS ERRONEOUSLY REGISTERED IN THE NAME OF PROF. A.A. KAZI DUE TO GAP IN COMMUNICATION BETWEEN THE OFFICE STAFF OF THE ASSES SEE TRUST AND THE SELLER OF THE CAR AND WHEN IT WAS DISCOVERED DURING THE AUDIT PROCESS , THE ERROR WAS IMMEDIATELY BROUGHT TO THE ATTENTION OF NAVNIT MOT ORS PVT. LTD, THE SELLERS OF THE CAR AND STEPS WERE TAKEN TO GET THE CAR TRANSFE RRED IN THE NAME OF THE TRUST. THE AUDITORS OF THE TRUST IN THE NOTES TO AC COUNTS FOR THE FINANCIAL YEAR ITA 4789/M/13 4 ENDED 31-3-2009 HAS CLEARLY POINTED OUT THAT THE TR UST HAS PURCHASED THE MOTOR CAR DURING THE YEAR FOR THE OBJECT OF THE TRU ST WHICH IS PRESENTLY REGISTERED IN THE NAME OF ONE OF THE TRUSTEE ON ACC OUNT OF MISTAKE ON THE PART OF VENDOR AND NECESSARY STEPS HAS BEEN INITIATED BY THE ASSESSEE TRUST TO GET THE BMW CAR TRANSFERRED IN THE NAME OF TRUST. THE P URCHASE OF CAR WAS CAPITALIZED AND REFLECTED IN THE FINANCIAL ACCOUNTS FOR THE YEAR 2008-09 AND SINCE THE OPERATING EXPENSES OF THE CAR WERE VERY H IGH , IT WAS DECIDED TO SELL THE CAR. THE SALE PROCEEDS WERE CREDITED DIRECTLY TO THE ASSESSEE TRUST BANK ACCOUNTS AND CORRESPONDING CHANGES WERE MADE IN THE ASSESSEE TRUST BALANCE SHEET. THE CAR HAD A LARGE LOGO OF THE ASSESSEE TR UST STUCK ON EACH SIDE TO INDICATE THAT IT BELONGED TO THE TRUST. THE CAR WA S DRIVEN BY AN OFFICIAL DRIVER EMPLOYED BY THE TRUST. IT WAS ALSO SUBMITTED BY TH E ASSESSEE TRUST THAT THE ACTIVITIES OF THE ASSESSEE TRUST ARE GENUINE AND IN ACCORDANCE WITH ITS MISSION TO FIGHT CANCER. THE ASSESSEE TRUST SUBMITTED THAT IT HAS PLAYED A PIVOTAL ROLE IN THE BATTLE AGAINST THE DREADED DISEASE OF CANCER AND THE SAME IS RECOGNIZED BY LEADING NATIONAL AND INTERNATIONAL AGENCIES. TH E ASSESSEE TRUST ALSO SUBMITTED THAT THE ICICI BANK LOAN ACCOUNT STATEMEN TS CLEARLY MENTIONED THAT THE ASSESSEE TRUST IS THE APPLICANT AND THE AS SET WAS ALWAYS INTENDED TO BE THE OFFICIAL PROPERTY OF THE ASSESSEE TRUST AND LOAN HAS BEEN AVAILED BY THE ASSESSEE TRUST. 5.THE A.O. AFTER CONSIDERING THE CONTENTIONS OF THE ASSESSEE TRUST REFERRED TO SECTION13(1)(C)(II),13(2)(G) AND 13(3)(CC) OF THE ACT AND HELD THAT THE FUNDS OF THE ASSESSEE TRUST WAS UTILIZED FOR PURCHASE OF BMW CAR WHICH IS REGISTERED IN THE NAME OF THE PROF A A KAZI , TRUSTEE OF THE ASS ESSEE TRUST WHICH AMOUNTS TO DIVERSION OF TRUST FUNDS TO THE TRUSTEE AND IT I S NOT A SMALL AMOUNT AND THE JUSTIFICATION GIVEN BY THE ASSESSEE TRUST TO JUST IFY THE PURCHASE OF CAR WAS NOT GENUINE. NOTHING STOPPED THE TRUST TO PURCHASE A DECENT CAR IN THE RANGE OF RS. 10-12 LACS SUCH AS HONDA CITY OR TOYOTA CORO LLA INSTEAD OF BUYING A LUXURY BMW CAR COSTING RS. 32,20,000/-. UTILIZATION OF SUCH HUGE FUNDS FOR BUYING BMW CAR INSTEAD OF USING THE SAME FOR CHARIT ABLE PURPOSES FOR WHICH ITA 4789/M/13 5 SAID FUNDS ARE RAISED AND LYING WITH THE ASSESSEE T RUST REFUTES THE BASIC CONCEPT OF CHARITY. ACCORDINGLY, THE A.O. REJECTED THE CONTENTIONS OF THE ASESSEE TRUST AND HELD THAT THE USAGE OF BMW CAR, A LUXURIOUS CAR WILL CREATE A DOUBT ABOUT THE GENUINENESS OF THE ACTIVITIES OF THE ASSESSEE TRUST. THE A.O ALSO HELD THAT NO LOG BOOK OR ANY OTHER EVIDENCE IS PRODUCED TO JUSTIFY THAT THE BMW CAR IS USED ONLY FOR THE WORK OF THE TRUST DURI NG THE YEAR AND NOT FOR PERSONAL USE BY THE TRUSTEE AND HENCE THE TRUST HAS DIVERTED THE FUNDS AND USED FOR THE BENEFIT OF EXCLUDED PERSONS COVERED BY PROVISIONS OF SECTION 13(1)(C)(II), 13(2)(G) AND 13(3)(CC) OF THE ACT AN D IN VIEW OF THIS , THE EXEMPTION U/S 11 OF THE ACT IS DENIED TO THE ASSESSEE TRUST B Y THE AO VIDE ORDERS DATED 28.12.2011 U/S 143(3) OF THE ACT AND ACCORDINGLY AD DITIONS WERE MADE TO THE INCOME OF THE TRUST ON ACCOUNT OF DONATIONS RECEIVE D OF RS. 3,34,58,111/-, INCOME FROM OTHER SOURCES OF RS. 16,16,4021- AND IN COME OF RS. 5,13,384/- RECEIVED ON ACCOUNT OF INVESTMENT. 6.AGGRIEVED BY THE ASSESSMENT ORDERS DATED 28.12.20 11 U/S 143(3) OF THE ACT PASSED BY AO, THE ASSESSEE TRUST PREFERRED AN APPEA L BEFORE THE CIT(A) AND THE ASSESSEE TRUST REITERATED ITS SUBMISSIONS AS MA DE BEFORE THE AO. THE CIT(A) CALLED FOR REMAND REPORT FROM A.O. AS THE A SSESSEE TRUST SUBMITTED THAT THE DETAILS SUBMITTED VIDE LETTER DATED 2-12-1 1, 7-12-11 AND 13-12-11 WERE NOT CONSIDERED BY THE A.O. THE A.O. IN HIS RE MAND REPORT DATED 05.12.2012 SUBMITTED THAT THE CONTENTIONS OF THE AS SESSEE TRUST WERE DULY CONSIDERED BEFORE PASSING THE ORDER DATED 28.12.201 1 U/S 143(3) OF THE ACT. IN REPLY TO THE REMAND REPORT, THE ASSESSEE TRUST O NCE AGAIN REITERATED ITS SUBMISSIONS AS MADE EARLIER AND ALSO SUBMITTED AS U NDER:- 5.3.1 REGARDING PURCHASE OF BMW CAR: THE AO HAD PROPOSED CANCELLATION OF EXEMPTION U/S. 11 ON ACCOUNT OF APPLICABILITY OF SECTION 13 FOR PURCHASE OF BMW CAR FROM THE FUNDS OF THE TRUST IN THE PERSONAL NAME OF THE TRUSTEE. A. O. HA S ALSO OBSERVED THAT TRUST FUNDS TO THE EXTENT OF RS. 32,20,000/- HAVE BEEN DI VERTED AND USED FOR THE BENEFIT OF EXCLUDED PERSONS. ACCORDINGLY AFTER CONS IDERING THE SUBMISSIONS MADE BY THE ASSESSEE VIDE LETTER DATED 02.12.2011 A ND 13.12.2011, IT IS HELD ITA 4789/M/13 6 THAT THE PROVISIONS OF SECTION 13(1)(C)(II) AND SEC TION 13(2)(G) R.W.S. 13(3)(CC)ARE ATTRACTED TO THE TRUST. AGAINST THE SAME, ASSESSEE, THROUGH ITS AUTHORIZED REPRESENTATIVES HAD SUBMITTED VIDE LETTER NO. UA/08/JUNE/IT/2012 DATED 26TH JUNE, 2012 THAT THE LEARNED ASSESSING OFFICER HAD ERRED IN WITHDRAW ING THE EXEMPTION GRANTED TO THE TRUST U/S 11. FURTHER, AS PER THE PROVISIONS OF SECTION 12AA OF THE INCOME TAX ACT CLEARLY STATE THAT THE REGISTRATION U/S 12 AA GRANTED TO A TRUST CAN ONLY BE REVOKED BY THE COMMISSIONER OF INCOME T AX OR DIRECTOR OF INCOME TAX (EXEMPTION), IF HE IS SATISFIED THAT THE ACTIVI TIES OF THE TRUST OR INSTITUTION TO WHOM REGISTRATION WAS GRANTED ARE NOT GENUINE OR ARE NOT BEING CARRIED OUT ACCORDING TO THE OBJECTS OF THE TRUST, BY PASSING A N ORDER ON WRITING CANCELLING THE REGISTRATION OF SUCH TRUST OR INSTITUTION. HOWE VER, SUCH ORDER FOR CANCELLING THE REGISTRATION CAN ONLY BE PASSED AFTER GIVING TH E ASSESSEE A REASONABLE OPPORTUNITY OF BEING HEARD. THE ASSESSEE TRUST FURTHER SUBMITTED IN ITS SAME RE PLY THAT THE PAYMENT FOR BMW CAR WAS MADE FROM BANK ACCOUNT OF THE ASSESSEE TRUST, THE CAR LOAN WAS OBTAINED IN THE ASSESSEE TRUST NAME,THE REPAYMENT O F BANK LOAN FROM ICICI BANK IS MADE FROM THE ASSESSEE TRUST BANK ACCOUNT, THE SALE PROCEED OF BMW CAR WAS CREDITED IN THE ASSESSEE TRUST BANK ACCOUNT . THE CAR WAS REGISTERED IN THE NAME OF TRUSTEE BY MISTAKE AND THE BMW CAR WAS PURCHASED KEEPING IN VIEW THE SIZE AND SCALE OF THE ASSESSEE TRUST ACTIV ITIES. AND ALSO IN SUPPORT IN REPLY TO REMAND REPORT OF AO , THE ASSESSEE TRUST ALSO RELIED UPON THE DECISION IN THE CASE OF CIT V. DILI P SINGH SARDARSINGH BAGGA (1993) 201 ITR 995 (BOM) AND ADDL. CIT VS. U.P. STATE AGRO INDUSTRIAL CORPORATION LTD.(1981) 127 ITR 97(ALL). 7. THE CIT(A) AFTER CONSIDERING THE SUBMISSION OF T HE ASSESSEE TRUST ALLOWED THE APPEAL OF THE ASSESSEE TRUST VIDE ORDER S DATED 31.03.2013 BY HOLDING THERE IS NO CONTRAVENTION OF SECTION13 OF T HE ACT AND THE ASSESSEE TRUST IS ENTITLED TO EXEMPTION U/S11 OF THE ACT BY OBSERVING AS UNDER:- 8. I HAVE CAREFULLY CONSIDERED THE FACTS OF CASE , ASSESSMENT ORDER AND SUBMISSIONS OF THE APPELLANT. 8.1 AS REGARDS THE OBJECTION THAT THE AO CANNOT DEN Y EXEMPTION U/S 11 FOR VIOLATION OF SECTION 13 WITHOUT THE DIT(E) CANCELLI NG THE REGISTRATION, THERE IS NO SUBSTANCE IN THIS OBJECTION. SECTION 13 STARTS W ITH A NON OBSTANTE CLAUSE WHICH STIPULATES THAT WHERE THERE IS ANY VIOLATION OF SECTION 13 THEN THE BENEFIT OF SECTION 11 WILL NOT BE AVAILABLE. ITA 4789/M/13 7 8.2 AS REGARDS THE OTHER OBJECTIONS HOWEVER, I FIND SUBSTANCE IN THEM. THE APPELLANT STATED THAT THE CAR WAS PURCHASED FOR THE PURPOSE OF THE TRUST AND NOT FOR THE PERSONAL USER OF THE TRUSTEE. THE LOAN WAS APPLIED IN THE NAME OF THE TRUST. THE LOAN WAS ALSO GRANTED IN THE NAME OF THE TRUST. IT IS ONLY BY MISTAKE THE CAR DEALER MENTIONED THE TRUSTEE AS THE PURCHASER. THE AO HAD ALSO NOT CONDUCTED ANY INDEPENDENT INQUIRIES AS REG ARDS THE ACTUAL USER OF THIS VEHICLE. HE MERELY DEPENDED ON ONE FACT I.E. T HE NAME MENTIONED IN THE INVOICE RAISED BY M/S NAVNIT MOTORS. FURTHER, THE A O STATES THAT BUYING OF SUCH LUXURY CAR FOR THE USE OF INFLUENTIAL DONOR IS AGAINST THE BASIC CONCEPT OF CHARITY AND NOTHING STOPPED THE ASSESSEE TRUST FROM PURCHASING A DECENT CAR IN RS. 10-12 LACS RANGE SUCH AS A HONDA CITY OR TOY OTA COROLLA, FOR THE USE OF THE TRUST AND ITS GUESTS/ DONORS. THE AO'S ADVICE M AY APPARENTLY APPEAR TO BE VERY SOUND BUT IN THE CONTEXT OF EXEMPTION U/S 11 I S NOT RELEVANT FOR THE REASON THAT THERE IS NO BAR IN BUYING SUCH CARS EXC EPT THAT THE USER SHOULD BE FOR THE PURPOSES OF THE TRUST. THE A.O. HAS NOT GI VEN ANY FINDING THAT THE CAR WAS USED FOR NON-TRUST PURPOSES. IN VIEW OF THE HON . BOMBAY HIGH COURT DECISION IN CIT V. DILIP SINGH SARDARSINGH BAGGA (1 993) 201 ITR 995 WHEREIN IT WAS HELD THAT REGISTRATION UNDER THE MOTOR VEHIC LES ACT IS NOT AN ESSENTIAL PRE-REQUISITE FOR THE ACQUISITION OF OWNERSHIP OF T HE MOTOR VEHICLES AND IN VIEW OF THE FACT THAT THE LOAN FOR PURCHASING THE CAR WA S TAKEN IN THE NAME OF THE TRUST AND NOT IN THE NAME OF THE TRUSTEE, I AM OF T HE CONSIDERED VIEW THAT THERE IS NO CONTRAVENTION OF PROVISIONS OF SECTION 13. 8.3 THEREFORE, FOLLOWING THE ABOVE DISCUSSION, GROU ND NO. 1 AND 2 ARE ALLOWED. 8. AGGRIEVED BY THE ABOVE DECISION OF THE CIT(A), T HE REVENUE IS IN FURTHER APPEAL BEFORE THE TRIBUNAL. 9. THE LD. D.R. SUBMITTED THAT THE ASSESSEE TRUST H AD PURCHASED BMW CAR FOR RS. 32,20,000/- IN THE NAME OF THE TRUSTEE WHIC H IS A DIVERSION OF FUND AND VIOLATION OF SECTION 13(1)(C)(II) AND SECTION 1 3(2((G) R.W.S. 13(3)(CC) OF THE ACT., HENCE THE A.O. HAS RIGHTLY DISALLOWED THE EXE MPTION U/S 11 OF THE ACT VIDE ORDERS OF ASSESSMENT DATED 28.12.2011 AND HE RELIED UPON THE ORDERS OF THE A.O.. 10. ON THE OTHER HAND, THE ASSESSEE TRUST SUBMITTED THAT THE BMW CAR IS PURCHASED BY THE TRUST BUT BY MISTAKE REGISTERED IN THE NAME OF PROF. A.A. KAZI, THE TRUSTEE AND CHAIRMAN OF THE ASSESSEE TRUS T. THE ASSESSEE TRUST REITERATED ITS SUBMISSIONS BEFORE US AS MADE BEFORE THE AUTHORITIES BELOW ITA 4789/M/13 8 WHICH ARE NOT REPEATED FOR SAKE OF BREVITY. THE ASS ESSEE TRUST FURTHER SUBMITTED THAT THE REGISTRATION U/S 12AA OF THE ACT WAS CANCELLED BY THE REVENUE AND ONE OF THE GROUNDS, INTER-ALIA, FOR CAN CELLATION OF REGISTRATION OF THE ASSESSEE TRUST WAS THE REGISTRATION OF THE AFOR E-STATED BMW CAR IN THE NAME OF THE MR A A KAZI, THE CHAIRMAN AND TRUSTEE O F THE ASSESSEE TRUST AND THE MUMBAI TRIBUNAL IN ITA NO. 1782/MUM/2014 VIDE ORDERS DATED 16-07- 2014 HAS RESTORE THE REGISTRATION OF THE TRUST U/S 12AA OF THE ACT BY HOLDING AS UNDER : 18. THE SECOND OBJECTION OF THE LEARNED DIT(E) IS THAT THE ASSESSEE HAD PURCHASED BMW 325I CAR IN PERSONAL NAME OF THE TRUS TEE MR. A.A. KAZI, VIDE BILL DATED 20TH MARCH 2009. THE CAR WAS PURCHA SED OUT OF THE FUNDS OF THE TRUST. THE LEARNED DIT(E) HELD THAT NOTHING HAS BEEN BROUGHT ON RECORD TO SHOW THE NEED OF BUYING SUCH A LUXURY CAR . AS BROUGHT ON RECORD, THIS ISSUE WAS SUBJECT MATTER OF SCRUTINY I N THE THE CANCER AID & RESEARCH FOUNDATION ASSESSMENT YEAR 200910, WHERE IN THE ASSESSING OFFICER HAS INVOKED THE PROVISIONS OF SECTION 13 TO DENY THE EXEMPTION TO THE ASSESSEE TRUST. THE MATTER HAD TRAVELLED UP TO THE STAGE OF FIRST APPELLATE PROCEEDINGS, WHEREIN THE LEARNED COMMISSI ONER (APPEALS) HAS REVERSED THE FINDINGS AND THE CONCLUSION OF THE ASS ESSING OFFICER BY HOLDING THAT THE CAR WAS USED FOR THE PURPOSE OF TH E TRUST ONLY AND AFTER RECORDING DETAIL REASONS, HE DECIDED THE ISSUE IN F AVOUR OF THE ASSESSEE TRUST BY HOLDING THAT THERE IS NO VIOLATION OF SECT ION 13. IT HAS ALSO BEEN BROUGHT ON RECORD THAT THE SAID CAR WAS SOLD IN THE NEXT YEAR. SUCH AN OBJECTION OF THE LEARNED DIT(E) IN THE PRESENT CASE , CANNOT BE THE SUBJECT MATTER OF CANCELLATION OF REGISTRATION UNDER SECTIO N 12AA(3), FIRSTLY, IT IS STILL A DABATABLE MATTER WHICH IS SUBJUDICE, WHETHE R THERE IS ANY VIOLATION OF SECTION 13 OR ANY MISUSE OF TRUST FUND; SECONDLY , EVEN IF THE CAR HAS BEEN PURCHASED IN THE NAME OF THE TRUSTEE, THEN AT THE MOST, IT NEEDS TO BE EXAMINED WITHIN THE SCOPE OF SECTION 13, AND IF AT ALL THERE IS ANY VIOLATION, THEN THE INCOME OF THE PREVIOUS YEAR IN WHICH SUCH A VIOLATION ITA 4789/M/13 9 TOOK PLACE, GETS EXCLUDED FROM THE EXEMPTION PROVID ED UNDER SECTION 11 I.E., SURPLUS INCOME BECOMES TAXABLE FOR THAT YEAR. IF THERE IS ANY KIND OF MISUSE OF TRUST FUNDS BY THE TRUSTEE OR A RELATED P ERSON OF THE TRUSTEE, THEN THE STATUTE PROVIDES ENOUGH POWER TO THE ASSES SING OFFICER TO FORFEIT THE EXEMPTION AND TAX THE SURPLUS. HOWEVER, IN SUCH A SITUATION, IT CANNOT BE HELD THAT THE ENTIRE ACTIVITIES OF THE TR UST HAVE BEEN RENDERED NONGENUINE OR ITS ACTIVITIES ARE NOT CARRIED OUT I N ACCORDANCE WITH THE OBJECTS OF THE TRUST. SIMILAR ISSUE HAD ALSO COME U P FOR CONSIDERATION BEFORE THE BANGALORE BENCH OF THE TRIBUNAL IN KRUPA NIDHI EDUCATIONAL TRUST (SUPRA), (AS RELIED UPON BY THE LEARNED COUNS EL FOR THE ASSESSEE), WHEREIN ON SIMILAR PURCHASE OF THE BMW CAR PURCHASE D IN THE NAME OF THE TRUSTEE, THE TRIBUNAL HELD THAT IT CANNOT BE TH E BASIS FOR CANCELLATION OF REGISTRATION UNDER SECTION 12AA(3), AT THE CANCE R AID & RESEARCH FOUNDATION THE MOST, IT CAN BE A VIOLATION OF PROV ISIONS OF SECTION 13. THUS, THIS OBJECTION OF THE LEARNED DIT(E) CANNOT B E HELD TO BE SUFFICIENT GROUND FOR CANCELLATION OF THE REGISTRATION. . 20. IN VIEW OF THE AFORESAID DISCUSSION, WE FIND TH AT NONE OF THE OBJECTIONS AND THE GROUNDS WHICH HAVE BEEN TAKEN BY THE LEARNED DIT(E) IN THE IMPUGNED ORDER FOR CANCELLING THE REGISTRATI ON CAN BE HELD TO BE SUSTAINABLE EITHER ON FACTS OR IN LAW, SO AS TO HOL D THAT THE ACTIVITIES OF THE TRUST ARE EITHER NOT GENUINE OR THEY ARE NOT BE ING CARRIED OUT IN ACCORDANCE WITH THE OBJECTS WITHIN THE SCOPE OF SEC TION 12AA(3). MOREOVER, NOTHING HAS BEEN BROUGHT ON RECORD TO SHO W THAT THE APPLICATION OF THE INCOME OF THE TRUST FROM YEARTO YEAR HAS NOT BEEN MADE TOWARDS ATTAINMENT OF THE OBJECTS I.E., FOR TH E CHARITABLE PURPOSES. IF NO DISCREPANCY HAS BEEN FOUND IN THE INCOME AND EXPENDITURE ACCOUNT AND THERE IS A PROPER APPLICATION OF INCOME TOWARDS THE OBJECTS IN ACCORDANCE WITH THE PROVISIONS OF SECTION 11, THEN NEITHER THE CHARITABLE ITA 4789/M/13 10 NATURE OF THE TRUST SHOULD BE DOUBTED NOR IT CAN BE HELD THAT ITS ACTIVITIES ARE NOT GENUINE OR ARE NOT IN ACCORDANCE THE CANCER AID & RESEARCH FOUNDATION WITH THE OBJECTS FOR WHICH REGISTRATION WAS GRANTED. ACCORDINGLY, WE REVERSE THE FINDINGS OF THE LEARNED DIT(E) AND HOLD THAT THE REGISTRATION GRANTED TO THE ASSESSEE CANNOT BE CANCELLED UNDER SECTION 12AA(3) ON THE GROUND STATED BY THE LEARNED DIT(E) IN THE IMPUGNED ORDER. THE GROUNDS THUS RAISED BY THE ASSE SSEE ARE ALLOWED. 21. # $% & $$ # '( )$ *+, 20. IN THE RESULT, ASSESSEES APPEAL IS ALLOWED. THE ASSESSEE TRUST REITERATED THAT ONE OF THE GROUN DS FOR CANCELLING OF THE ASSESSEES REGISTRATION U/S 12AA(3) OF THE ACT WAS PURCHASE OF THE AFORE- STATED BMW CAR FOR RS.32,20,000/- IN THE NAME OF TH E TRUSTEE INSTEAD OF THE ASSESSEE TRUST USING THE FUNDS OF THE ASSESSEE TRUS T AND MUMBAI TRIBUNAL IN ITA APPEAL 1782/MUM/2014 HAS HELD THAT THE REGISTRA TION OF THE ASSESSEE TRUST CANNOT BE CANCELLED U/S 12AA(3) OF THE ACT ON THE GROUNDS STATED BY DIT(E) WHICH, INTER-ALIA, INCLUDED THIS PURCHASE OF BMW CAR IN THE NAME OF MR A A KAZI, CHAIRMAN CUM TRUSTEE OF THE ASSESSEE T RUST . THE ASSESSEE TRUST ALSO SUBMITTED THAT DEPRECIATION ON THE SAID BMW CA R WAS ALSO TAKEN BY THE ASSESSEE TRUST UNDER THE ACT AND THE CAR WAS ULTIMA TELY SOLD IN SUBSEQUENT YEAR AND THE SALE PROCEEDS WERE CREDITED IN THE BAN K ACCOUNT OF THE ASSESSEE TRUST . THE LOAN RE-PAYMENTS TO ICICI BANK WAS ALSO PAID FROM THE BANK ACCOUNT OF THE ASSESSEE TRUST AS WELL AS PAYMENT OF THE INITIAL FUNDS FOR THE PURCHASE OF THE BMW CAR WAS ALSO PAID FROM THE BANK ACCOUNT OF THE ASSESSEE TRUST AND THESE ALL EVIDENCES THAT THE SAI D BMW CAR WAS PURCHASED BY THE ASSESSEE TRUST FOR ITS ACTIVITIES AND WAS OW NED BY THE ASSESSEE TRUST. THE ASSESSEE TRUST SUBMITTED IN PAPER BOOK WHICH IS PLACED ON RECORD THE FOLLOWING DOCUMENTS WHICH INTER-ALIA INCLUDES FOLLO WING DOCUMENTS AND ALSO DULY CERTIFIED BY THE ASSESSEE TRUST TO BE PLACED B EFORE THE AUTHORITIES BELOW DURING THE RELEVANT PROCEEDINGS RELATING TO THE AS SESSEE TRUST : ITA 4789/M/13 11 1. THE COPY OF AMENDED TRUST DEED OF THE ASSESSEE TRUS T 2. AUDITED ACCOUNTS OF THE ASSESSEE TRUST FOR THE FINA NCIAL YEAR 2008-09 3. COPIES OF LEDGER ACCOUNTS OF THE ASSESSEE TRUST EVI DENCING THAT THE BMW CAR IS CAPITALIZED IN THE BOOKS OF ACCOUNTS AND ALSO COPIES OF LEDGER ACCOUNT OF THE ICICI BANK CAR LOAN REFLECTIN G THAT THE RE- PAYMENTS OF LOAN ARE FROM THE ASSESSEE TRUST BANK A CCOUNT 4. AFFIDAVIT DATED 16.12.2011 BY PROF . (RETD) ABDULQA DIR ABDULLA KAZI , THE CHAIRMAN CUM TRUSTEE OF THE ASSESSEE TRUST WHER EBY HE SOLEMNLY AFFIRMED IN NUTSHELL THAT HE IS DEVOTING HIS FULL T IME TO THE ACTIVITIES OF THE TRUST WITHOUT DRAWING ANY SALARY AND ABOUT T HE ACTIVITIES OF THE TRUST IN SPREADING AWARENESS ABOUT PREVENTION A ND EARLY DETECTION OF CANCER AS WELL PROVIDING FINANCIAL AID TO CANCER PATIENTS ETC AS WELL THAT THE SAID BMW CAR WAS PURCHASED PUR SUANT TO BOARD RESOLUTION AND THE CAR WAS UTILIZED THEREAFTER FOR ACTIVITIES OF THE ASSESSEE TRUST ONLY. 11. WE HAVE CONSIDERED THE RIVAL CONTENTIONS AND PE RUSED THE MATERIAL AVAILABLE ON RECORD. WE HAVE OBSERVED THAT THE AS SESSEE TRUST HAD PURCHASED THE BMW CAR FOR RS. 32,20,000/- WHICH IS REGISTERED IN THE NAME OF PROF. (RETD ) ABDULQADIR ABDULLA KAZI , CHAIRMAN AND TRUSTEE OF THE ASSESSEE TRUST ALTHOUGH THE SAID CAR HAS BEEN CAPIT ALIZED AND REFLECTED IN THE BALANCE SHEET OF THE ASSESSEE TRUST AND ALSO IN THE AUDITED ACCOUNTS. THE DEPRECIATION ON THE AFORE-STATED BMW CAR WAS ALSO A VAILED BY THE ASSESSEE TRUST AS PROVIDED UNDER THE ACT. THE ASSESSEE TRUST HAS ALSO AVAILED THE LOAN FACILITY FROM ICICI BANK IN THE NAME OF THE ASSESSE E TRUST FOR WHICH REPAYMENTS OF LOAN HAS BEEN MADE FROM THE ASSESEEE TRUST BANK ACCOUNTS AND ULTIMATELY THE CAR HAS BEEN SOLD IN THE SUBSEQU ENT YEAR AND SALE PROCEEDS WERE CREDITED IN THE BANK ACCOUNT OF THE A SSESSEE TRUST.THE ITA 4789/M/13 12 ASSESSEE TRUST HAS ALSO SUBMITTED BEFORE US THAT TH ERE WAS A MISTAKE INADVERTENTLY COMMITTED BY THE STAFF OF THE ASSESSE E TRUST IN GETTING THE SAME REGISTERED IN THE NAME OF TRUSTEE OF THE ASSESSEE T RUST WHILE BUYING THE BMW CAR INSTEAD OF GETTING IT REGISTERED IN THE NAME OF THE ASSESSEE TRUST AND IT HAS BEEN STATED IN THE AUDITED ACCOUNTS FOR THE FINANCI AL YEAR 2008-09 OF ASSESSEE TRUST IN SCHEDULE P -NOTES FORMING PART OF ACCOUNT S AS UNDER : 4. THE TRUST PURCHASED A MOTOR CAR FOR RS.32,34,85 3/- DURING THE YEAR FOR THE OBJECT OF THE TRUST WHICH IS PRESENTLY REGI STERED IN THE NAME OF ONE OF THE TRUSTEE ON ACCOUNT OF MISTAKE ON THE PART OF VENDOR. THE TRUST HAS INITIATED NECESSARY FORMALITIES TO TRANSFER THE SAI D MOTOR CAR IN THE NAME OF THE TRUST. PENDING SUCH TRANSFER FORMALITIES IN THE NAME OF THE TRUST SAID MOTOR CAR HAS BEEN SHOWN AS FIXED ASSET IN THE BOOKS OF ACCOUNTS. THE AUDITED ACCOUNTS FOR THE FINANCIAL YEAR 2008-09 WAS SIGNED ON 17 TH SEPTEMBER 2009 IN WHICH ABOVE NOTE WAS INCORPORATED AND SIGNED BY THE TRUSTEES AND THE AUDITORS OF THE ASSESSEE TRUST. TH IS CLEARLY EVIDENCES ON THE TOUCH STONE OF PREPONDERANCE OF PROBABILITIES THAT THERE WAS A MISTAKE HAPPENED AT THE TIME OF PURCHASE OF THE BMW CAR WHE REBY IT GOT REGISTERED IN THE NAME OF THE TRUSTEE INSTEAD OF THE ASSESSSEE TR UST ALTHOUGH IT WAS PURCHASED BY THE ASSESSEE TRUST AND ONCE THE MISTAK E WAS DETECTED , THE STEPS WERE INITIATED TO CORRECT THE MISTAKE AND TO TRANSFER THE MOTOR CAR IN THE NAME OF THE ASSESSEE TRUST. WE HAVE ALSO OBSERVED THAT THE REGISTRATION OF THE ASSESSEE TRUST U/S 12AA OF THE ACT WAS CANCELLED BY THE REVENUE AND ONE OF THE GROUNDS FOR CANCELLATION OF REGISTRATION OF THE ASSESSEE TRUST WAS THE REGIS TRATION OF THE AFORE-STATED BMW CAR IN THE NAME OF THE TRUSTEE AND THE MUMBAI TRIBUNAL IN ITA NO. 1782/MUM/2014 VIDE ORDERS DATED 16-07-2014 HAS REST ORED THE REGISTRATION OF THE TRUST U/S 12AA OF THE ACT BY HOLDING AS UND ER : ITA 4789/M/13 13 18. THE SECOND OBJECTION OF THE LEARNED DIT(E) IS THAT THE ASSESSEE HAD PURCHASED BMW 325I CAR IN PERSONAL NAME OF THE TRUS TEE MR. A.A. KAZI, VIDE BILL DATED 20TH MARCH 2009. THE CAR WAS PURCHA SED OUT OF THE FUNDS OF THE TRUST. THE LEARNED DIT(E) HELD THAT NOTHING HAS BEEN BROUGHT ON RECORD TO SHOW THE NEED OF BUYING SUCH A LUXURY CAR . AS BROUGHT ON RECORD, THIS ISSUE WAS SUBJECT MATTER OF SCRUTINY I N THE THE CANCER AID & RESEARCH FOUNDATION ASSESSMENT YEAR 200910, WHERE IN THE ASSESSING OFFICER HAS INVOKED THE PROVISIONS OF SECTION 13 TO DENY THE EXEMPTION TO THE ASSESSEE TRUST. THE MATTER HAD TRAVELLED UP TO THE STAGE OF FIRST APPELLATE PROCEEDINGS, WHEREIN THE LEARNED COMMISSI ONER (APPEALS) HAS REVERSED THE FINDINGS AND THE CONCLUSION OF THE ASS ESSING OFFICER BY HOLDING THAT THE CAR WAS USED FOR THE PURPOSE OF TH E TRUST ONLY AND AFTER RECORDING DETAIL REASONS, HE DECIDED THE ISSUE IN F AVOUR OF THE ASSESSEE TRUST BY HOLDING THAT THERE IS NO VIOLATION OF SECT ION 13. IT HAS ALSO BEEN BROUGHT ON RECORD THAT THE SAID CAR WAS SOLD IN THE NEXT YEAR. SUCH AN OBJECTION OF THE LEARNED DIT(E) IN THE PRESENT CASE , CANNOT BE THE SUBJECT MATTER OF CANCELLATION OF REGISTRATION UNDER SECTIO N 12AA(3), FIRSTLY, IT IS STILL A DABATABLE MATTER WHICH IS SUBJUDICE, WHETHE R THERE IS ANY VIOLATION OF SECTION 13 OR ANY MISUSE OF TRUST FUND; SECONDLY , EVEN IF THE CAR HAS BEEN PURCHASED IN THE NAME OF THE TRUSTEE, THEN AT THE MOST, IT NEEDS TO BE EXAMINED WITHIN THE SCOPE OF SECTION 13, AND IF AT ALL THERE IS ANY VIOLATION, THEN THE INCOME OF THE PREVIOUS YEAR IN WHICH SUCH A VIOLATION TOOK PLACE, GETS EXCLUDED FROM THE EXEMPTION PROVID ED UNDER SECTION 11 I.E., SURPLUS INCOME BECOMES TAXABLE FOR THAT YEAR. IF THERE IS ANY KIND OF MISUSE OF TRUST FUNDS BY THE TRUSTEE OR A RELATED P ERSON OF THE TRUSTEE, THEN THE STATUTE PROVIDES ENOUGH POWER TO THE ASSES SING OFFICER TO FORFEIT THE EXEMPTION AND TAX THE SURPLUS. HOWEVER, IN SUCH A SITUATION, IT CANNOT BE HELD THAT THE ENTIRE ACTIVITIES OF THE TR UST HAVE BEEN RENDERED NONGENUINE OR ITS ACTIVITIES ARE NOT CARRIED OUT I N ACCORDANCE WITH THE OBJECTS OF THE TRUST. SIMILAR ISSUE HAD ALSO COME U P FOR CONSIDERATION BEFORE THE BANGALORE BENCH OF THE TRIBUNAL IN KRUPA NIDHI EDUCATIONAL ITA 4789/M/13 14 TRUST (SUPRA), (AS RELIED UPON BY THE LEARNED COUNS EL FOR THE ASSESSEE), WHEREIN ON SIMILAR PURCHASE OF THE BMW CAR PURCHASE D IN THE NAME OF THE TRUSTEE, THE TRIBUNAL HELD THAT IT CANNOT BE TH E BASIS FOR CANCELLATION OF REGISTRATION UNDER SECTION 12AA(3), AT THE CANCE R AID & RESEARCH FOUNDATION THE MOST, IT CAN BE A VIOLATION OF PROV ISIONS OF SECTION 13. THUS, THIS OBJECTION OF THE LEARNED DIT(E) CANNOT B E HELD TO BE SUFFICIENT GROUND FOR CANCELLATION OF THE REGISTRATION. . 20. IN VIEW OF THE AFORESAID DISCUSSION, WE FIND TH AT NONE OF THE OBJECTIONS AND THE GROUNDS WHICH HAVE BEEN TAKEN BY THE LEARNED DIT(E) IN THE IMPUGNED ORDER FOR CANCELLING THE REGISTRATI ON CAN BE HELD TO BE SUSTAINABLE EITHER ON FACTS OR IN LAW, SO AS TO HOL D THAT THE ACTIVITIES OF THE TRUST ARE EITHER NOT GENUINE OR THEY ARE NOT BE ING CARRIED OUT IN ACCORDANCE WITH THE OBJECTS WITHIN THE SCOPE OF SEC TION 12AA(3). MOREOVER, NOTHING HAS BEEN BROUGHT ON RECORD TO SHO W THAT THE APPLICATION OF THE INCOME OF THE TRUST FROM YEARTO YEAR HAS NOT BEEN MADE TOWARDS ATTAINMENT OF THE OBJECTS I.E., FOR TH E CHARITABLE PURPOSES. IF NO DISCREPANCY HAS BEEN FOUND IN THE INCOME AND EXPENDITURE ACCOUNT AND THERE IS A PROPER APPLICATION OF INCOME TOWARDS THE OBJECTS IN ACCORDANCE WITH THE PROVISIONS OF SECTION 11, THEN NEITHER THE CHARITABLE NATURE OF THE TRUST SHOULD BE DOUBTED NOR IT CAN BE HELD THAT ITS ACTIVITIES ARE NOT GENUINE OR ARE NOT IN ACCORDANCE THE CANCER AID & RESEARCH FOUNDATION WITH THE OBJECTS FOR WHICH REGISTRATION WAS GRANTED. ACCORDINGLY, WE REVERSE THE FINDINGS OF THE LEARNED DIT(E) AND HOLD THAT THE REGISTRATION GRANTED TO THE ASSESSEE CANNOT BE CANCELLED UNDER SECTION 12AA(3) ON THE GROUND STATED BY THE LEARNED DIT(E) IN THE IMPUGNED ORDER. THE GROUNDS THUS RAISED BY THE ASSE SSEE ARE ALLOWED. ITA 4789/M/13 15 21. FU/KKZFJFR FD VIHY LOHDQR FD TKRH GSA 20. IN THE RESULT, ASSESSEES APPEAL IS ALLOWED. NOTHING CONTRARY HAS BEEN BROUGHT TO OUR NOTICE BY REVENUE TO CONTROVERT THE CONTENTIONS OF THE ASSESSEE TRUST. IN OUR CONSIDER ED VIEW BASED ON OUR ABOVE FINDINGS , THE CIT(A) HAS RIGHTLY ALLOWED THE EXEMP TION U/S 11 OF THE ACT TO THE ASSESSEE TRUST BY PASSING A WELL REASONED ORDER . WE FIND NO INFIRMITY IN THE ORDERS OF THE CIT(A) AND ACCORDINGLY WE UPHOLD THE SAME AND HOLD THAT THE ASSESSEE TRUST IS ENTITLED FOR EXEMPTION U/S 11 OF THE ACT . WE ORDER ACCORDINGLY. 12 . IN THE RESULT, THE APPEAL FILED BY THE REVENUE IS DISMISSED. ORDER PRONOUNCED IN THE OPEN COURT ON 13 NOV. NOVEMBER 2015. !' - ./ 0! 1 13 NOV. 2015 2 , SD/- SD/- (SHAILENDRA KUMAR YADAV) (RAMIT KOCHAR) JUDICIAL MEMBER ACCOUNTANT MEMBER . A MUMBAI ; 0! DATED 13.11.2015 [ .B../ R.K. R.K. R.K. R.K. , SR. PS ! '#$% &%# / COPY OF THE ORDER FORWARDED TO : 1. / THE APPELLANT 2. / THE RESPONDENT. 3. C () / THE CIT(A)- CONCERNED, MUMBAI 4. C / CIT- CONCERNED, MUMBAI 5. F%2 BBG$ , G$ , . A / DR, ITAT, MUMBAI C BENCH 6. 2IJ K / GUARD FILE. ' / BY ORDER, F B //TRUE COPY// (/') * ( DY./ASSTT. REGISTRAR) , . A / ITAT, MUMBAI ITA 4789/M/13 16