Shri Jain Shwetamber Murtipujak Sukrat Fund Kaoda Committee vs CIT
Assessee trust was incorporated in the year 1945 and was also allotted a PAN. However, it lost the original and applied for a duplicate records were not available with the Income Tax Department. Assessee applied for fresh registration, but the application was rejected by Ld. CIT (Exemption) on 28.9.2018. Due to this, AO held back the refunds of the trust for last six years and raised the demand for assessment year 2018-19 and 2019-20. Instant appeal was filed against this order but in the meantime assessee again filed fresh application on 28.2.2019 submitting necessary documentary evidences.
Ld. CIT (Exemption) granted the registration u/s 12AA of the Act with prospective effect from Assessment Year 2019-20. The assessee was consistently recognised as a charitable trust for AYs 1974-75, 1975-76, and 1976-77 to 1983-84 u/s 143(3) of the Act. Therefore Indore ITAT took the view that that the assessee trust should be granted the registration u/s 12AA of the Act w.e.f. 13.8.1973 in place of the registration granted from assessment year 2019-20 onwards.