MAHAVIR JAIPURIA FOUNDATION,JAIPUR V. CIT (EXEMPTION), JAIPUR, JAIPUR

ITA 518/JPR/2024

AI Insights

The Mahavir Jaipuria Foundation, claiming to be a trust, initially faced rejection of its application for registration under Section 12AB of the Income Tax Act, 1961, by the CIT (Exemption), Jaipur, due to incomplete documentation and non-compliance with the Rajasthan Public Trust Act, 1959. Dissatisfied, the foundation appealed to the Income Tax Appellate Tribunal, Jaipur. During the pendency of the appeal, the foundation rectified the issues by obtaining registration under the Rajasthan Public Trust Act and submitted a complete application, leading to the grant of regular registration under the Income Tax Act. Consequently, the foundation sought to withdraw its appeal, which was granted by the Tribunal.

• Counselvise Citation: [2024] 140 COUNSELVISE.COM (IT) 30427 (ITAT-JAIPUR)
• Duration Of Justice: 7 month(s)
• Appeal Type: Income Tax Appeal
• Pronouncement Date: 21-11-2024
• Appeal Filed By: Assessee
• Order Result: Dismissed
• Bench Allotted: B
• Next Hearing Date: 19-11-2024
• Assessment Year: 2024-2025
• Appeal Filed On: 20-04-2024
• Laws Referred To: Income Tax Act, 1961, Rajasthan Public Trust Act, 1959
• Result in Favour of: Revenue
• Court: TRIBUNAL
• Assessee Lawyers: RUCHIKA SOGANI
• Keywords: Competent authority

Judgement Text

"1 ITA NO. 518/JPR/2024 MAHAVIR JAIPURIA FOUNDATION VS CIT (EXEMPTION), JAIPUR vk;dj vihyh; vf/kdj.k] t;iqj U;k;ihB] t;iqj IN THE INCOME TAX APPELLATE TRIBUNAL, JAIPUR BENCHES, “ B-Bench” JAIPUR Jh jkBkSM+ deys'k t;UrHkkbZ] ys[kk lnL; ,o aJh ujsUnz dqekj] U;kf;d lnL; ds le{k BEFORE: SHRI RATHOD KAMLESH JAYANTBHAI, AM & SHRI NARINDER KUMAR, JM vk;dj vihy la-@ITA No. 518/JPR/2024 Mahavir Jaipuria Foundation Jawahar Lal Nehru Marg Jaipur cuke Vs. The CIT (Exemption) Jaipur LFkk;hys[kk la-@thvkbZvkj la-@PAN/GIR No.: AAATM1461 H vihykFkhZ@Appellant izR;FkhZ@Respondent fu/kZkfjrh dh vksjls@Assessee by : Ms. Ruchika Sogani, Advocate jktLo dh vksjls@Revenue by: Representative of the Department. lquokbZ dh rkjh[k@Date of Hearing : 21/11/2024 mn?kks\"k.kk dh rkjh[k@Date of Pronouncement : 21 /11/2024 vkns'k@ORDER PER: NARINDER KUMAR, JUDICIAL MEMBER The appellant claims itself to be a Trust. on 30-09-2023, the appellant- applicant filed an application before Ld. CIT(E), Jaipur, seeking registration u/s 12AB of the Income Tax Act, 1961 (hereinafter referred to as “the Act’’). 2 ITA NO. 518/JPR/2024 MAHAVIR JAIPURIA FOUNDATION VS CIT (EXEMPTION), JAIPUR However, said application came to be dismissed by ld. CIT(E), vide impugned order dated 24-02-2024 on the following grounds: 1. Incomplete Form 10AB. 2. Rajasthan Public Trust Act, 1959. 3. Genuineness of Activities and non-compliance. 2. Feeling dissatisfied with the rejection of its application u/s 12AB of the Act, the appellant trust is before this Appellate Tribunal by way of an appeal presented on 20-04-2024. 3. It may be mentioned here that during pendency of the appeal, on 18-11-2024 the appellant has presented an application with the prayer for withdrawal of this appeal. 4. Heard on the prayer of withdrawal. File perused. 5. As noticed above, one of the grounds for rejection of the application u/s 12AB of the Act was that Form 10AB presented by the applicant before the ld. CIT(E) was incomplete, the applicant having not presented following two documents: (i) Copy of final accounts for the preceding year i.e. F.Y. 2022-23; (ii) Note on activities of the applicant (as per rule 17A(2)(k). 3 ITA NO. 518/JPR/2024 MAHAVIR JAIPURIA FOUNDATION VS CIT (EXEMPTION), JAIPUR Another ground for rejection of the application u/s 12AB of the Act was that the applicant trust failed to produce certificate of its registration under Rajasthan Public Trust Act, 1959. 6. In the application presented before the Registry on 18-11-2024 seeking withdrawal of the appeal, the applicant alleges that applicant trust has been got registered under Rajasthan Public Trust Act, 1959. In this regard, photo copy of certificate dated 01-07-2024 issued by the Competent Authority forms part of the paper book presented on 14-11-2024. In the application, it has been alleged that applicant – appellant trust was registered under Old Regime and as per New Regime, it was required to apply for regular registration for 5 years, as per provision of Section 12A(1)(ac)(i) /12AB(1)(a) of the Act, but, due to some misconception of law, the trust firstly applied for it provisionally registered, and, secondly, applied for regular registration as per provisions of Section 12A(1)(ac)(iii) of the Act. To explain the subsequent events, on behalf of the appellant, it has been submitted that CBDT, vide its Circular No. 7/2024 dated 25-04-2024, extended time lines for filing of certain applications upto 30-06-2024, and as such, taking advantage of this extension of timeline, the applicant trust filed fresh application 4 ITA NO. 518/JPR/2024 MAHAVIR JAIPURIA FOUNDATION VS CIT (EXEMPTION), JAIPUR seeking regular registration u/s 12A(1)(ac)(i) /12AB(1)(a) of the Act and, the said prayer has been allowed granting regular registration from A.Y. 2022-23 to 2026- 27 vide order dated 08-07-2024. In this regard, reliance has been placed on copy of order for registration dated 08-07-2024 in Form No.10AC. That is how, prayer has been made on behalf of the appellant for dismissal of this appeal as having been withdrawn. Passing of order dted 8.7.2024 is not being disputed on behalf of the Revenue. Result 7. In view of the submission of the applicant trust which stands registered u/s 12A(1)(ac)(i) /12AB(1)(a) of the Act, as prayed, this appeal is hereby dismissed as having been withdrawn. File be considered to record room after needful is done by the Office. Order pronounced in the open court on 21/11/2024. Sd/- Sd/- ¼jkBkSM+ deys'k t;UrHkkbZ ½ ¼ujsUnz dqekj½ (RATHOD KAMLESH JAYANTBHAI) (NARINDER KUMAR) ys[kk lnL; @Accountant Member U;kf;d lnL;@Judicial Member Tk;iqj@Jaipur fnukad@Dated:- 21/11/2024 *Mishra, Sr. PS 5 ITA NO. 518/JPR/2024 MAHAVIR JAIPURIA FOUNDATION VS CIT (EXEMPTION), JAIPUR vkns'k dh izfrfyfivxzsf’kr@Copy of the order forwarded to: 1. The Appellant- Mahavir Jaipuria Foundation, Jaipur 2. izR;FkhZ@ The Respondent- The CIT(E), Jaipur 3. vk;dj vk;qDr@ The ld CIT 4. foHkkxh; izfrfuf/k] vk;dj vihyh; vf/kdj.k] t;iqj@DR, ITAT, Jaipur 5. xkMZ QkbZy@ Guard File ITA No. 518/JPR/2024) vkns'kkuqlkj@ By order, lgk;d iathdkj@Asstt. Registrar "