COMMISSIONER OF INCOME TAX Vs. HARE KRISHNA MOVEMENT

JUDGEMENT

(1.) THIS Tax Case (Appeal) is filed by the Revenue as against the order of the Income Tax Appellate Tribunal raising the following substantial question of law:

(2.) THE respondent - trust, which was formed by a trust deed executed on 18.01.2010, filed an application under Section 10A of the Income Tax Act for registration under Section 12AA of the Income Tax Act on 11.03.2013. The application for registration was processed on the basis of the materials enclosed. On intimation by the Department by letter dated 01.04.2013, the applicant - trust filed a letter dated 25.6.2013 furnishing certain details. One of the details contained in the response is that the trust received a land as gift from donors, the property donated was registered in favour of the trust on 04.02.2010 and that is recorded in the books of accounts for the year ending 31.3.2010. It appears that the property has been actually handed over to the trust on 26.5.2011. On the subsequent hearing dates, the applicant - trust filed another letter dated 22.9.2013 filed on 25.9.2013 enclosing certain details of the property gifted to the trust along with the relevant particulars including income and expenditure statement, balance sheet etc.

(3.) HEARD Mr.J.Narayanasamy, learned standing counsel appearing for the Revenue and perused the materials placed before this Court.