M/s Vivekanand Social and Educational Trust, V. The C.I.T.,

ITA 80/RAN/2014

• Counselvise Citation: [2014] 140 COUNSELVISE.COM (IT) 85432 (ITAT-RANCHI)
• Duration Of Justice: 8 month(s) 4 day(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 28-11-2014
• Appeal Filed By: Assessee
• Bench Allotted: DB
• Assessment Year: 2013-2014
• Appeal Filed On: 24-03-2014
• Court: TRIBUNAL
• Department Lawyers: DEEPAK ROSHAN JCITLD
• Assessee Lawyers: M K CHOUDHARY LD

Judgement Text

INCOME TAX APPELLATE TRIBUNAL, CIRCUIT BENCH, RANCHI BEFORE HON'BLE SHRI H.L. KARWA, PRESIDENT , AND HON'BLE SHRI B.R. BASKARAN, ACCOUNTANT M EMBER ITA NO . 80 /RAN/201 4 M/S. VIVEKANAND SOCIAL & EDUCATIONAL VS. COMMISSION ER OF INCOME - TAX TRUST PAN: AABTV5341E DHANBAD ( APPELLANT ) ( RESPONDENT ) FOR THE APPELLANT :SH RI M.K. CHOUDHARY, ADVOCATE,LD.AR FOR THE RESPONDENT : SHRI DEEPAK ROSHAN, JCIT/LD.DR DATE OF HEARING : 2 8 - 11 - 2014 DATE OF PRONOUNCEMENT: 2 8 - 11 - 201 4 O R D E R SHRI B.R. BASKARAN, ACCOUNTANT MEMBER : TH E APPEAL F ILED BY THE ASSESSEE IS DIRECTED AGAINST THE ORDER DATED 17 - 02 - 2014 PASSED BY LD. CIT , DHANABAD IN REJECTING THE APPLICATION FILED BY THE ASSESSEE SEEKING REGIST RATION U/S.12A OF THE ACT 2. THE ASSESSEE IS A TRUST AND IT WAS REGISTERED ON 13 - 12 - 2011. THE ASSESSEE TRUST APPLIED TO THE LD.CIT SEEKING REGISTRATION U/S. 12 OF THE ACT . HOWEVER, THE LD.CIT REJECTED THE ASSESSEE S APPLICATION ON THE REASONING THAT TRU ST DEED DOES NOT CONTAIN ANY CLAUS, WHICH STATES ABOUT THE DISTRIBUTION OF ASSETS , IN THE EVENT OF DISSOLUTION OF THE TRUST. HENCE, HE REJECTED THE APPLICATION FILED BY THE ASSESSEE . 3. THE LD.AR APPEARING ON BEHALF OF THE ASSESSEE INVITED OUR ATTENTION TO CLAUSE 36 OF THE TRUST DEED . HE SUBMITTED THAT THE ABOVE SAID CLAUSE NO.36 STATES ABOUT THE MANNER OF DISTRIBUTION OF ASSETS OF THE TRUST , IN THE EVENT OF ITS DISSOLUTION , I.E., THE PROPERTIES OF THE TRUST SHALL VEST WITH SIMILAR ORGANIZATION OR TRUST OR SOCIETY CREATED BY THE TRUSTEES. 2 ITA NO 8 0 /RAN/1 4 - M/S. VIVEKANAND SOCIAL & EDU. TRUST,D BAD . 4. WE HEARD THE PARTIES AND PERUSED THE RECORD. WE NOTICE THAT CLAUSE 36 OF THE TRUST DEED PROVIDES FOR DISTRIBUTION OF ASSETS OF THE TRUST IN THE EVENT OF ITS DISSOLUTION. HENCE, THE LD.CIT WAS NOT CORRECT IN OBS ERVING THAT THE TRUS T DEED DOES NOT CONTAIN ANY CLAUSE ABOUT DISTRIBUTION OF ASSETS , IN THE EVENT OF DISSOLUTION . ACCORDINGLY, WE SET ASIDE THE ORDER OF THE LD.CIT AND RESTORE THIS MATTER TO HIS FILE WITH THE DIRECTION TO RE CONSIDER THE APPLICATION FILE D BY THE ASSESSEE TRUST AND ALSO TO EXAMINE CLAUSE NO.36 OF THE TRUST DEED. AFTER CONSIDERING THE EXPLANATIONS/INFORMATION GIVEN BY THE ASSESSEE, THE LD CIT MAY TAKE APPROPRIATE DECISION IN ACCORDANCE WITH THE LAW . 5 . IN THE RESULT, THE APPEAL FILED BY THE ASSESSEE IS TREATED AS ALLOWED . PRONOUNCED ACCORDINGLY ON 2 8 - 11 - 2014 SD/ - SD/ - [ H.L. KARWA ] [ B.R. BASKARAN ] PRESIDENT ACCOUNTANT MEMBER DT. 2 8 - 11 - 2014 PLACE : RANCHI PP, SR. PS COPY OF THE ORDER FORWARDED TO: 1. THE APPELLANT : M/S. VIVEKANAND SCIAL & EDUCATIONAL TRUST, D BAD. 2 THE RESPONDENT: THE CIT, D BAD 3. .THE CIT, 4.THE CIT(A), 5.DR, ITAT CIRCUIT BENCH, RANCHI 6. GUARD FILE. TRUE COPY, BY ORDER, ASSTT. REGISTRAR 3 ITA NO 8 0 /RAN/1 4 - M/S. VIVEKANAND SOCIAL & EDU. TRUST,D BAD . 1. DATE OF DICTATION ............. 2 8 - 11 - 2014 ....................... 2. DATE ON WHICH THE TYPED DRAFT IS PLACE D BEFORE THE DICTATING MEMBER ........................OTHER MEMBER ...... - 11 - 2014 ........................ 3. DATE ON WHICH THE APPROVED DRAFT COMES TO THE SR. P.S./P.S. ..................... 4. DATE ON WHICH THE FAIR ORDER IS PLACED BEFORE THE DICTATING ME MBER FOR PRONOUNCEMENT.................................. 2 7 - 11 - 2014 ................................................... 5. DATE ON WHICH THE FAIR ORDER COMES BACK TO THE SR. P.S./P.S ................ 6. DATE ON WHICH THE FILE GOES TO THE BENCH CLERK ........ ............................... 7. DATE ON WHICH THE FILE GOES TO THE HEAD CLERK ......................................... 8. THE DATE ON WHICH THE FILE GOES TO THE ASSISTANT REGISTRAR FOR SIGNATURE ON THE ORDER ............................................ ..................................................... 9. DATE OF DESPATCH OF THE ORDER ..............................................................