All India Securitisation And ... vs Cit Exemption, Kailash Height on 4 April, 2025

[Cites 23, Cited by 0]

Income Tax Appellate Tribunal - Jaipur

All India Securitisation And ... vs Cit Exemption, Kailash Height on 4 April, 2025

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                    IN THE INCOME TAX APPELLATE TRIBUNAL,
                            JAIPUR BENCHES,"B" JAIPUR

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     BEFORE: DR. S. SEETHALAKSHMI, JM & SHRI RATHOD KAMLESH JAYANTBHAI, AM

                  vk;dj vihy la-@ITA No.627 & 628/JPR/2024
                                     u/s 12AA and 80G of the Act

     All India Securitisation and Enforcement cuke The CIT-Exemption,
     of Security Interest Association           Vs. Jaipur.
     H-15, Chitranjan Marg,
     C-Scheme, Jaipur.
     LFkk;hys[kk la-@thvkbZvkj la-@PAN/GIR No.:AAITA7176M
     vihykFkhZ@Appellant                               izR;FkhZ@Respondent

           fu/kZkfjrh dh vksjls@Assesseeby :Shri Vikash Rajvanshi, C.A.
           jktLo dh vksjls@Revenue by: Shri P.P. Meena, CIT-DR

           lquokbZ dh rkjh[k@Date of Hearing           : 05/02/2025
           mn?kks"k.kk dh rkjh[k@Date of Pronouncement: 04 /04/2025
                                   vkns'k@ORDER

PER: DR. S. SEETHALAKSHMI, J.M. These are two appeals filed by the assessee against two different orders of the Ld.CIT (Exemption), Jaipur both dated 27-03-2024 passed under section 12AB and 80G of the Income Tax Act, 1961 respectively.

The grounds of appeal raised by the assessee in both the appeals are as under:-

ITA No. 627 & 628/JPR/2024 All India Securitisation and Enforcement of Security Interest Association vs. CIT(E) ITA No. 627/JPR/2024 U/s 12AA of I.T. Act, 1961 "1. CIT(E) has wrongly rejected the application for registration for charitable institution u/s 12A. Mentioning wrong reasons such as due to non-registration under Rajasthan Public Trust Act, 1959 and genuineness of activities and also cancelled provisional registration whereas trust has complied all the procedure. Hence, rejection/cancellation order must be quashed. '' ITA No. 628/JPR/2024 U/s 80G of I.T. Act, 1961 "1. CIT(E) has wrongly rejected the application for registration of assessee society u/s 80G stating that the approval u/s 80G cannot be granted without registration u/s 12AB and commencement of activities and also wrongly cancelled provisional registration.

Hence CIT(E) order should be made null and void and CIT(E) may be directed to grant for 80G registration and rejection/cancellation order of 80G must be quashed. '' 2.1 Apropos to the ground so raised by the assessee in ITA No. 627/JPR/2024, the ld. CIT(E) rejected the assessee's claim of registration u/s 12AB of the Act by observing as under:-

''2.5. Assessee vide letter dated 19.12.2023 was required to submit documents/explanation, the relevant portion of which is reproduced as under-

"Whether the institution is registered under Rajasthan Public Trust Act. 1959, if not, please give explanation that why the same should not be considered as violation of section 12AB(1)(b)(i)(B) of the income Tax Act read with sec 17 of the Rajsathan Public Trust Act, 1959 and decision of Hon'ble Apex Court in the case of New Noble Education Society Civil Appeal No 3795 of 2014 and 19-10-2022 and why the application filed by you should not be rejected.'' In response, vide reply 13-02-2024, the applicant stated that the institution is registered vide trust deed dated 20-07-2007 registered with Sub-Registrar-V, Jaipur. Thus the applicant has 3 ITA No. 627 & 628/JPR/2024 All India Securitisation and Enforcement of Security Interest Association vs. CIT(E) failed to prove that the applicant is registered under RPT Act, 1959 as discussed above. In light of above discussion and in the absence of registration under Rajasthan Public Trust Act, 1959, the applicant is not eligible for registration u/s 12AB. Thus the application of the assessee is liable to be rejected on this ground.

03. Genuineness of Activities: -

3.1. It is important to mention here that while examining the claim of the assessee u/s 12AB of I.T. Act, the Commissioner of Income-tax has been empowered to call for such documents or information from the trust or institution as he thinks necessary in order to satisfy himself about the genuineness of activities of the trust or institution and may also make such inquiries as he may deem necessary in this behalf On perusal of the documents furnished by the applicant, it was noticed that the applicant was only organizing conference and seminar Therefore, in order to determine the expenses shown in the final accounts and to check the nature of charitable work. under the powers vested in CIT (E), the applicant was asked to file the following details vide this office letter dated 29.02.2024, which is reproduced as under-

"Details of charitable activities actually carmed out by the organization since its inception along with the documentary evidence in the following Performa:-

S.N.   Description   Date           Venue          Number of     Object to         Amount
       of activity                                 beneficiaries which             spent
                                                                 related

Please also submit photographs, new paper cuttings, etc too in support of activities conducted in the absence of such sufficient evidences, it will be presumed that you have not carried out any charitable activity. Please also submit list of beneficiaries for each activity in following format:-

ITA No. 627 & 628/JPR/2024 All India Securitisation and Enforcement of Security Interest Association vs. CIT(E) S.N. Name of Address Mobile No. Amount Activity to beneficiary which related 3.2. However, even after giving sufficient opportunities, the applicant didn't furnish any details of seminar/ legal awareness exp only stating that ''All the expenses are of charitable nature as can be seen from the financials attached.'' The above details were sought from the applicant to determine the authenticity of expenditures made and to determine the actual working of the trust. On perusal of financial statement for the FY 2020-21 & 2022-23, it was notice that the assessee has carried out only one activity i.e. seminar/ legal awareness. Further, it was also notice that the assessee is mainly doing seminar and all the expenditure made on account of seminar/ legal awareness expense only. However, the applicant has not submitted any further details as requisite above notice as payments made for what purposes such amounts have been made, who has attended the conference. The applicant neither submit venue of seminar nor submit any list of persons who have attended the seminar/legal awareness. In the absence of such details, it can be concluded that the applicant is not doing any charitable activity and just using the funds of the trust for its own personal uses. Thus, it can be concluded that the activities of the applicant are non-genuine and the applicant is not eligible for registration u/s 12A

04. In view of above discussion applicant's application for registration u/s 12AB is liable to be rejected and thus being rejected on following grounds:-

* Registration under Rajasthan Public Trust Act, 1959.

* Genuineness of Activities.

ITA No. 627 & 628/JPR/2024 All India Securitisation and Enforcement of Security Interest Association vs. CIT(E)

05. Further 12AB (1)(b)(ii) (B) of the Income Tax Act, 1961 also state that if CIT is not satisfied has to pass order rejecting such application and also cancelling its earlier registration. Thus, it is clarified that applicant's provisional registration under clause (vi) of clause (ac) of sub-section (1) of section 12A of the Income Tax Act, 1961 dated 06.10.2021 is also being cancelled. Further assessee has failed to give proper justification for regularization of provisional registration, thus with this order provisional registration is also lapsed and cancelled.'' 3.2 Apropos to the ground so raised by the assessee in ITA No. 628/JP/2024, the ld. CIT(E) rejected the assessee's claim of exemption u/s 80G of the Act by observing as under:-

''3.4. In view of the above the present application filed in Form No.10AB under clause (iii) of first proviso to sub-section (5) of sec 80G of the Act is liable to be rejected as non-maintainable

04. In view of above discussion applicant's application for approval u/s 80G is liable to be rejected and thus being rejected on following grounds  Approval u/s 80G cannot be granted without registration u/s 12AB  Commencement of activities

5. Further 12AB (1)(b)(ii)(B) of the Income Tax Act, 1961 also states that if CIT is not satisfied has to pass order rejecting such application and also cancelling its earlier registration. Thus, it is clarified that applicant's provisional registration under clause

(vi) of clause (ac) of sub-section (1) of Section 12A of the Income Tax Act, 1961 dated 6-10-2021 is also being cancelled.

Further, assessee has failed to give proper justification for regularization of provisional registration, thus with this order provisional registration is also lapsed and cancelled.'' 6 ITA No. 627 & 628/JPR/2024 All India Securitisation and Enforcement of Security Interest Association vs. CIT(E) 3.3 During the course of hearing, the ld. AR of the assessee in both the appeals mainly submitted that the assessee was not provided adequate opportunity of being heard by the ld. CIT(E) and thus both the orders should be quashed being against the principles of natural justice. Further, the ld. AR of the assessee stated at Bar that the assessee trust is in the process of applying the registration under RPT Act before the competent authority and it is likely to get the same. This being the sole reason, the assessee prayed for one more chance.

It is also worthwhile to mention the written submission of the assessee relating to both the appeals (supra) are as under:-

STATEMENT OF FACTS relating to Section 12AA of the Act:

The assessee trust is a charitable trust working for public welfare activities without any distinction of caste, colour, creed, section or sex in India. And to promote, practice, advise and help in upliftment of economic and financial health level of the Banking sector and financial institutions with respect to Indian Economy and to educate Banks and Financial institutions in making procedure for taking peaceful possession and sale of the secured asset etc. After change of method of trust registration in the online regime, the assessee trust had filed form 10A vide PB No. 23-26 for provisional registration and the Order of registration was granted to the assessee in form 10AC vide PB No.20-22 on 06.10.2021 vide unique registration number AAITA7176ME20212 under sub-clause (vi) of clause (ac) of sub-section (1) of section 12A valid till AY 2024-25. The trust has applied for permanent registration on 29th September, 2023 in form 10AB under section 12A sub section (1) clause (ac) sub clause (iii) but was wrongly rejected by CIT(E) Exemption.

The assessee Trust was issued a letter/notice No. ITBA/EXM/F/EXM43/2023-24/1060767226(1) dated 11/02/2024 requesting it to furnish certain documents/explanations by 14/02/2024. The assessee trust submitted reply with complete documents/explanations on 14-02-2024 vide PB No.107-120. Further assessee was issued a show cause notice vide notice no. ITBA/EXM/F/EXM43/2023-24/1061740170(1) requesting it to furnish certain documents/explanations by 05/03/2024. The assessee trust submitted reply with complete documents/explanations on 05-03-2024 vide PB No.126-129. The trust has duly applied for registration under Rajasthan Public Trust Act, 1959 with Devsthan Vibhag as per copy of Form No. 6 and 7 along with newspaper cutting enclosed vide PB No. 103-106, which is also not required 7 ITA No. 627 & 628/JPR/2024 All India Securitisation and Enforcement of Security Interest Association vs. CIT(E) as decided by Hon'ble ITAT in case of APJ Abdul Kalam Education and Welfare Trust Vs CIT(E), Jaipur vide I.T.A. Nos. 567/JPR/2024 on dated 15.01.2025. However, Form 10AB and Charitable Activities were not considered and registration under 12A also cancelled the previous provisional registration i.e. valid upto AY 2024-25, hence assessee trust is under appeal before your Honor.

Grounds of Appeal Ground No. 1 CIT(E) has wrongly rejected the application for registration for charitable institution u/s 12A. Mentioning wrong reasons such as due to non-registration under Rajasthan Public Trust Act 1959 and genuineness of the activities and also cancelled provisional registration whereas trust has complied all the procedure. Hence rejection/ cancellation order must be quashed.

Reply of ground no. 1

1. The assessee trust is a charitable trust duly registered with Sub- Registrar, Jaipur V vide registration endorsement serial number 2007397010949 on dated 20.07.2007 vide PB No.1-17. Further the trust amended its deed on dated 17.08.2021 as per copy of amended deed enclosed vide PB No.18-

19. The trust has also applied on Devsthan Vibhag and under registration process by the State Government of Rajasthan under the Rajasthan Public Trust Act, 1959 vide PB No. 103-106, which is also not required as decided by Hon'ble ITAT in case of APJ Abdul Kalam Education and Welfare Trust Vs CIT(E), Jaipur vide I.T.A. Nos. 567/JPR/2024 on dated 15.01.2025.

The objects of the Trusts are of charitable purposes, general public utility as well as relief to poor needy people specifying as under:

a) To promote, practice, advise and help in upliftment of economic and financial health level of the Banking sector and financial institutions with respect to Indian Economy.

b) To determining scope of the SARFAESI Act 2002 as also its underlying policies and indicates the main purpose of the enactment of the SARFAESI Act 2002. To organize the social welfare programs and public utility programs for helping group of persons to come out of debt, to advise banking sectors to make policies and procedure for effective recovery of their loans with parallel welfare of general public.

c) The Association (AISAESIA) has been constituted to promote , advise to make necessary policies and procedure for effective recovery of banking/financial institution through Securitization of financial assets, Reconstruction of Financial assets & Enforcement of security interest.

d) To educate Banks and Financial institutions in making procedure for taking peaceful possession and sell of the secured assets or take over management in the event of default i.e. classification of the borrower's account as NPA in accordance with the directions / guidelines issued by the Reserve Bank of India from time to time.

ITA No. 627 & 628/JPR/2024 All India Securitisation and Enforcement of Security Interest Association vs. CIT(E)

e) To submit representation, suggest to Central Govt., State Govt. etc. for formation of law for effective recovery of Bank's dues, to make amendments in existing laws and to educate various govt. machineries including - Police Department, Home Department about provisions of recovery law for effective recovery of dues from defaulters.

f) To facilitate easy transferability of Financial Assets to/by the Securitization Company to acquire Financial Assets of banks and Financial institution by issue of debentures and provide advise and consultancy in the matter.

g) To publish the magazines and circulars which related to the latest Securitization and Recovery Judgments and case laws of Honorable Supreme Court and Honorable High courts for the purpose of general awareness and about Securitization and Recovery Laws.

h) To establishment of committee to organize Seminars, meetings in various places and organize the programs about Securitization and Recovery proceedings, for the benefits of general public, borrowers, secured creditors, lawyers to inform the latest recovery laws.

i) To promote the "Alternative dispute system" proceeding e.g. Arbitration, Conciliation between the Banking sector and Financial Institutions and borrowers and to settle disputes.

2. Rebuttal of point 2 of CIT Order The CIT states that " In the absence of registration under Rajasthan Public Trust Act, 1959, assessee is not eligible for registration u/s 12AB."

The assessee trust is a charitable trust duly registered with Sub- Registrar, Jaipur V vide registration endorsement serial number 2007397010949 on dated 20.07.2007 vide PB No.1-17. Further the trust amended its deed on dated 17.08.2021 as per copy of amended deed enclosed vide PB No.18-19. The trust has also applied on Devsthan Vibhag and under registration process by the State Government of Rajasthan under the Rajasthan Public Trust Act, 1959 vide PB No. 103-106.

It was decided in similar case by the ITAT "B" BENCH, JAIPUR in case of APJ Abdul Kalam Education and Welfare Trust Vs CIT(E), Jaipur vide I.T.A. Nos. 567/JPR/2024 order Pronounced on 15/01/2025:

It was decided in similar case by the ITAT "B" BENCH, JAIPUR in case of Trehan Seva Bharti Charitable Trust Vs CIT(E), Jaipur vide I.T.A. Nos. 1027 & 1028/JPR/2024 order Pronounced on 15/01/2025:

It was decided in similar case by the ITAT "A" BENCH, JAIPUR in case of Ummat Human Help Sanstha Ajmer Vs CIT(E), Jaipur vide I.T.A. Nos. 854 & 857/JPR/2024 order Pronounced on 24/01/2025:

"There is no law which is required to be complied with for achieving the objects of the assessee trust. Section 17 of the RPT Act, 1959 requires that trustees of the trust have to apply for registration of a public trust, however, there is no section in the RPT Act, 1959 which prohibits a trust to carry out its objects if it is not registered under the RPT Act, 1959. In our considered opinion, both the statutes have 9 ITA No. 627 & 628/JPR/2024 All India Securitisation and Enforcement of Security Interest Association vs. CIT(E) their own provisions and implications and none of them have overriding effect. Even if, the assessee trust is not registered with the RPT Act, 1959 and the concerned officials under the RPT Act, 1959 deems it necessary to get the entity registered under section 17 of the RPT Act, 1959, appropriate action can be taken and against the trustees of the trust. But this issue can't be a hurdle in getting registration before the Income Tax Department u/s. 12AB of the Act.

In view of discussion (supra), we do not find any force in the findings of the Ld. CIT (E), Jaipur while holding registration application untenable in the absence of registration under the RPT Act, 1959.

(a) In CIT v. Kids-R-Kids International Education & Social Welfare Trust [2018] 99 taxmann.com 384 (Punjab & Haryana), the Punjab and Haryana High Court held that the only requirement for granting registration under section 10(23C) (vi) is the satisfaction of the prescribed authority with regard to the genuineness of the activities of the assessee. Since the Principal CIT had not doubted the genuineness of the activities of the society, the Tribunal rightly directed the Principal CCIT to grant registration under section 10(23C) irrespective of non-compliance of the Right to Education Act, 2009.

(b) In Paramount Education Charitable Trust v. CIT [2015] 61 taxmann.com 283(Chandigarh - Trib.), the assessee-trust filed an application for registration under section 12A. Commissioner rejected assessee's application on ground that assessee trust was not registered under new Haryana Registration & Regulation of Societies Registration Act, 2012. The Tribunal held that aims and objects of assessee were of general public utility as well as to provide education and were covered by provisions of section 2(15). If the activities of assessee were charitable in nature, registration of assessee couldn't be denied merely on fact that it was not registered under Societies Act.

In the light of above, objection of the Ld. CIT (E), Jaipur is dismissed and further directed that registration can't be denied on this ground. In the result relevant ground raised by the assessee is allowed."

Our case is on same analogy as the assessee trust is already registered by Sub-Registrar, Jaipur and under process of registration under Rajasthan Public Trust Act, 1959 and 12A registration cannot be denied on this ground. So, the registration can't be rejected for non-registration under Rajasthan Public Trust Act, 1959 as the trust is charitable in nature.

3. Rebuttal of point 3 of CIT Order The CIT states that " it can be concluded that the activities of the applicant are non-genuine and the applicant is not eligible for registration u/s 12A."

We want to state that the assessee trust submitted reply with complete documents/explanations on 14- 02-2024 vide PB No.107-120. Further assessee was issued a show cause notice vide notice no. ITBA/EXM/F/EXM43/2023-24/1061740170(1) requesting it to furnish certain documents/ explanations by 05/03/2024. The assessee trust submitted reply with complete documents/explanations on 05-03- 2024 vide PB No.121-123. We are also enclosing photographs as a proof of genuineness of activities for conducting seminar on legal awareness vide PB No.126-129. We are also enclosing Ledger of Expenses Showing Charitable Expenses of conducting legal awareness seminar vide PB No.124-125. The Ld. CIT(E) did not object on the charitable objects of the trust. The objects of the trust are charitable in nature 10 ITA No. 627 & 628/JPR/2024 All India Securitisation and Enforcement of Security Interest Association vs. CIT(E) mentioned at point no.1 and also as per deed vide PB No.6 and 8, so 12A must be granted on the basis of charitable objects of the trust. Hence Ld. CIT is wrongly stated that applicant has failed to justify the genuineness of activities whereas assessee trust is doing all genuine charitable activities which is true from above stated photographs and ledger of expenses.

4. Rebuttal of Point 4 of CIT Order:

The Ld. CIT(E) wrongly rejected on the grounds of Registration under Rajasthan Public Trust Act, 1959 which is already decided by Hon'ble ITAT in various cases of APJ Abdul Kalam Education and Welfare Trust Vs CIT(E), Jaipur vide I.T.A. Nos. 567/JPR/2024, Trehan Seva Bharti Charitable Trust Vs CIT(E), Jaipur vide I.T.A. Nos. 1027 & 1028/JPR/2024 and Ummat Human Help Sanstha Ajmer Vs CIT(E), Jaipur vide I.T.A. Nos. 854 & 857/JPR/2024 as per above mentioned in point no. 2 and Genuineness of Activities where trust is doing all genuine charitable activities which is true from above stated photographs and ledger of expenses in point no.3 as above.

5. Rebuttal of Point 5 of CIT Order:

The CIT Exemption has wrongly cancelled the existing 12A provisional registration dated 06.10.2021 whereas assessee has submitted the proper justification for regularization of the provisional registration. So, your honor is requested to kindly direct the CIT Exemption to grant the 12A registration as trust is doing genuinely charitable activities.

6. It was decided in similar case by the Hon'ble Delhi High Court in case of Director Of Income Tax vs Foundation Of Ophthalmic And Optometry vide ITA 1687/2010 decided on 16.08 .2012:

"Facially the provision of section 12AA would suggest that there are no restrictions of the kind which the revenue is reading into in the instant case. In other words, the statute does not prevent or enjoin the Commissioner from registering a trust based only on its objects, without any activity, in the case of a newly registered Trust. The statute does not prescribe a waiting period, for a trust to qualify itself for registration. [Para 10] If the revenue's contentions are correct then, necessarily, a condition would have to be read into the provision that the Commissioner should be satisfied that the Trust is in fact engaged in charitable activities which would in turn inject considerable deal of subjectivity. If such flexibility is introduced there is possibility that, it would be susceptible to varied interpretation by the different authorities; some would be satisfied with activity of few months, while others may wish to examine the activities of the organization for longer time. [Para 11] For the above reasons, the Tribunal is right in holding that while examining the application under section 12AA(1)(b), read with section 12A, the concerned Commissioner/Director is not required to examine question whether the trust has actually commenced and has, in fact carried on charitable activities."

Our case is on the same analogy/ identical to the above case, trust has been carrying out genuine charitable activities as per its objects, so registration u/s 12A must be granted.

ITA No. 627 & 628/JPR/2024 All India Securitisation and Enforcement of Security Interest Association vs. CIT(E)

7. It was decided in similar case by the ITAT "B" BENCH, JAIPUR in case of Paradise Sarv Kalyan Sansthan, 106/31, Agarwal Farm, Mansarover, Jaipur Vs CIT(E), Jaipur vide I.T.A. Nos. 401 & 402/JPR/2024 order Pronounced on 10/07/2024 vide PB No. 152-157.

"Conclusion

12. For the foregoing discussion, we find that both the impugned orders i.e. one challenged by way of ITA No. 401/JPR/2024 and the other by way of ITA No. 402/JPR/2024 deserve to be set aside, and matter(s) need remanded to Learned CIT(E) for decision afresh, after providing reasonable opportunity to the applicant-appellant, of being heard. Result

13. Consequently, both these appeals are allowed. While setting aside the impugned orders, the matters are remanded to Learned CIT(E), Jaipur for decision of the respective application afresh, after providing reasonable opportunity to the appellant-applicant of being heard."

Hence our case may also be referred to CIT(Exemption) with necessary directions.

8. It was decided in similar case by the ITAT "G" BENCH, MUMBAI in case of Shri Surti Modh Vanik Jagruti Mandal, B-201, Mota Nagar, Sir MV Road, Andheri East, Mumbai Vs ITO(E), Ward-2(3) ITAT, Cumballa Hill, Tel Exchange, Mumbai vide I.T.A. Nos. 1315 & 1316/Mum/2023 order Pronounced on 27/07/2023 vide PB No. 34-41.

"In this case The CIT(E) had rejected the application for registration of Shri Surti Modh Vanik Jagruti Mandal under sections 12A and 80G the Income Tax Act, 1961. The primary reason for the rejection was that the Trust seemed to serve only a specific community - the Surti Modh Vanik Samaj. The CIT(E) cited that the aims and objectives were not 'genuine' and for the broader public but catered to a specific community, making it ineligible for the tax exemptions under the cited sections.The ITAT found that the CIT(E) has wrongly rejected the applications. The ITAT pointed out that the Ld. CIT(E) has not applied his mind while passing the impugned orders."

Hence in our case main objectives is doing charitable and general public welfare activities without any discretion of caste, color, Creed, section or sex in India so, our trust is charitable and as all our objects are genuine and for the broader public which can be clearly seen from Trust Deed. Hence eligible for registration Under form 10AB u/s 12A of Income Tax Act 1961.

9. It was decided in similar case by the ITAT "Jaipur" BENCH, in case of Shri Parnami Panchayat 1, Parnami Mandir, Adarsh Nagar, Jaipur Vs ITO(Exemptions), Ward-1, Jaipur vide I.T.A. No. 14/JPR/2023 order Pronounced on 18/08/2023 vide PB No. 42-61:

"Although the assessee trust, since past many years was registered under Section 12AA of the Act, however, such certificate during the course of reassessment proceedings was not traceable. Accordingly, benefit of Section 11 was denied by the AO, vide order dated 30.09.2017. Against the order of the AO, assessee trust preferred an appeal before the CIT(A). The said appeal was filed within stipulated time period i.e. on 16.11.2017. In the interregnum, the assessee trust 12 ITA No. 627 & 628/JPR/2024 All India Securitisation and Enforcement of Security Interest Association vs. CIT(E) again applied for registration u/s 12AA of the Act, which was granted by ld. CIT(E) on 27.10.2018, with effect from AY 2019-20. Before the ld. NFAC, it was submitted that since the assessee trust, before the order being passed by Ld. CIT(A), in the first appellate proceedings, for caption assessment year, had been granted fresh registration u/s 12AA of the Act, benefit of such exemption should be given even for the caption assessment year."

Our case is on the same analogy/ identical to the above case, trust has applied for re-registration so benefit of 12A should be granted for the relevant and earlier Assessment year under Sec 12A.

10. It was decided in similar case by the ITAT JAIPUR BENCHES,"B" JAIPUR, in case of Akhil Bhartiya Shree Khandal Vipra Mahasabha, Pushkar, Ajmer.Vs The ITO (Exemption), Ajmer. vide ITA. No. 345/JP/2018 order Pronounced on 07/01/2019 vide Pb No. 62-74:

The appellant trust, which obtained registration during the pendency of the appeal, shall be entitled to exemption under Section 11 and 12 of the Act. The registration under Section 12AA by itself does not offer immunity from taxation. The CIT (A) was not justified in taking a similar stand as the AO without considering the amendment to Section 12A of the Act.

This case involves an appeal filed by the appellant, Akhil Bhartiya Shree Khandal Vipra Mahasabha, against the order of the ld. CIT(A), Ajmer. The appellant trust is registered under the Rajasthan Societies Act on 27.10.1952. The trust applied for registration under Section 12AA on 19.01.2016 and was granted registration by the Ld CIT(E) on 08.07.2016. The ld. CIT(A) confirmed the additions made by the Assessing officer.

The provisions of Section 12A state that if registration has been granted to a trust or institution under Section 12AA, the provisions of Sections 11 and 12 shall apply in respect of any income derived from property held under trust of any assessment year preceding the aforesaid assessment year, for which assessment proceedings are pending before the Assessing Officer as on the date of such registration and the objects and activities of such trust or institution remain the same for such preceding assessment year. Therefore, the provisions of Section 11 and 12 shall apply for assessment year 2016-17.

Our case is on the same analogy/ identical to the above case, trust has applied for re-registration so benefit of 12A should be granted for the relevant and earlier Assessment year under Sec 12A.

11. It was decided in similar case by the ITAT JODHPUR BENCH : : JODHPUR, in case of Bhamashah Sundarlal Daga Charitable Trust, Bagree Mohallan, Bikaner - 334001..Vs The Commissioner of Income Tax-Exemption, Jaipur. vide ITA No.278/JODH/2023 order Pronounced on 10/11/2023. vide Pb No. 75-89:

"Therefore, in these facts and circumstances we hold that the Assessee had made the application in form 10AB within the prescribed time limit and hence it is valid application. Therefore, we direct the ld.CIT(E) to treat the application as filed within statutory time and verify assessee's eligibility as per the Act. The ld.CIT(E) shall grant opportunity to the assessee. Assessee shall be at liberty to file all the necessary documents before the ld.CIT(E).

ITA No. 627 & 628/JPR/2024 All India Securitisation and Enforcement of Security Interest Association vs. CIT(E) Accordingly, the appeal of the assessee is allowed for statistical purpose. Since we have set aside to Ld.CIT(E), we do not intend to adjudicate each ground separately."

Our case is similar and also covered under ITAT cases Since we have filed application within time period and so cannot be rejected AND complied all the conditions required for registration under 12A, So Assessee is eligible for registration Under form 10AB u/s 12A of Income Tax Act 1961.

12. In similar case, it was decided by the Hon'ble ITAT AMRITSAR BENCH, AMRITSAR., in case of Dharam Chandan Charitable Trust 313/1, Dr. Sham Singh. Vs. CIT (Exemption) Chandigarh The Commissioner of Income Tax-Exemption, Jaipur. vide ITA No.653/Asr/2019 order Pronounced on 26/04/2023 vide PB No.90-93:

"For registration u/s 12AA it is clearly stipulating that the ld. CIT(E) shall satisfy himself about the objects and the genuineness of its activities. The assessee made the payments in relation to charitable activities of trust. The ld. DR had not made any strong objection related to submission of the assessee and the evidence which are filed before the bench. We set aside the order of the ld. CIT(E) and direct to allow the registration of the assessee."

In our case the assessee trust has done all the activities of the trust within the objective of the Act. The documents submitted along with the application demonstrate that the trust is doing public welfare activities without any distinction of caste, colour, creed, section or sex in India. And to promote, practice, advise and help in upliftment of economic and financial health level of the Banking sector and financial institutions with respect to Indian Economy and to educate Banks and Financial institutions in making procedure for taking peaceful possession and sale of the secured asset etc. Hence your Honor is requested to direct the CIT Exemption to grant the approval u/s 12A and justice should be imparted in the favor of assessee.

May Please Be Your honour STATEMENT OF FACTS RELATING TO SECTIN 80G:

The assessee trust is a charitable trust working for public welfare activities without any distinction of caste, colour, creed, section or sex in India. And to promote, practice, advise and help in upliftment of economic and financial health level of the Banking sector and financial institutions with respect to Indian Economy and to educate Banks and Financial institutions in making procedure for taking peaceful possession and sale of the secured asset etc. After this, the assessee applied for registration u/s 80G and 12A in Form 10A vide PB No.133-136. Registration u/s 80G was granted to the assessee on 06.10.2021, valid till A.Y. 2024-25 vide unique registration number AAITA7176MF20210 under section 80G(5)(iv) vide PB No.130-132. And provisional registration was granted on 06.10.2021 vide unique registration number AAITA7176MF20210 under sub-clause (iv) of clause (12) of sub-section(5) of section 80G of the Income Tax Act valid from 06-10- 2021 to AY 2024-25 vide PB No.130-132. The Trust had applied for permanent registration via form 10AB on 29.09.2023 under section 80G sub section (5) of clause (iii) but was wrongly rejected by CIT(E) Exemption.

The assessee Trust was issued a letter/notice No. ITBA/EXM/F/EXM43/2023-24/1058865048(1) dated 19.12.2023 requesting it to furnish certain documents/explanations by 29.12.2023. A trust holding 14 ITA No. 627 & 628/JPR/2024 All India Securitisation and Enforcement of Security Interest Association vs. CIT(E) provisional registration is not liable to furnish replies to any notice issued, but still we had replied for notice dated 14-02-2024 vide PB No. 144-149. Further assessee was issued a show cause notice vide notice no. ITBA/EXM/F/EXM43/2023-24/1061740611(1)) requesting it to furnish certain documents/explanations by 05/03/2024. The assessee trust submitted reply with complete documents/explanations on 05-03-2024 VIDE PB No.150-151. Hence it should be considered and should be registered , however rejection order in form no. 10AB was passed by CIT(E) which should be made null and void and this rejection order must be cancelled and grant us the 80G registration. With these facts and background of case, grounds of appeal are dealt as under:

Grounds of Appeal Ground No. 1 CIT(E) has wrongly rejected the application for registration of assessee society u/s 80G stating that the Approval u/s 80G cannot be granted without registration u/s 12AB and Commencement of activities and also wrongly cancelled provisional registration. Hence CIT(E) order should be made null and void and CIT(E) may be directed to grant for 80G registration and rejection/cancellation order of 80G must be quashed.

Reply of ground no. 1

1. The assessee trust is a charitable trust duly registered with Sub- Registrar, Jaipur V vide registration endorsement serial number 2007397010949 on dated 20.07.2007 vide PB No.1-17. Further the trust amended its deed on dated 17.08.2021 as per copy of amended deed enclosed vide PB No.18-

19. The trust has also applied on Devsthan Vibhag and under registration process by the State Government of Rajasthan under the Rajasthan Public Trust Act, 1959 vide PB No. 103-106, which is also not required as decided by Hon'ble ITAT in case of APJ Abdul Kalam Education and Welfare Trust Vs CIT(E), Jaipur vide I.T.A. Nos. 567/JPR/2024 on dated 15.01.2025.

The objects of the Trusts are of charitable purposes, general public utility as well as relief to poor needy people specifying as under:

a) To promote, practice, advise and help in upliftment of economic and financial health level of the Banking sector and financial institutions with respect to Indian Economy.

b) To determining scope of the SARFAESI Act 2002 as also its underlying policies and Indicates the main purpose of the enactment of the SARFAESI Act 2002. To organize the social welfare programs and public utility programs for helping group of persons to come out of debt, to advise banking sectors to make policies and procedure for effective recovery of their loans with parallel welfare of general public.

c) The Association (AISAESIA) has been constituted to promote , advise to make necessary policies and procedure for effective recovery of banking/financial institution through Securitization of financial assets, Reconstruction of Financial assets & Enforcement of security interest.

d) To educate Banks and Financial institutions in making procedure for taking peaceful possession and sell of the secured assets or take over management in the event of default i.e. classification of the 15 ITA No. 627 & 628/JPR/2024 All India Securitisation and Enforcement of Security Interest Association vs. CIT(E) borrower's account as NPA in accordance with the directions / guidelines issued by the Reserve Bank of India from time to time.

e) To submit representation, suggest to Central Govt., State Govt. etc. for formation of law for effective recovery of Bank's dues, to make amendments in existing laws and to educate various govt.

machineries including - Police Department, Home Department about provisions of recovery law for effective recovery of dues from defaulters.

i) To promote the "Alternative dispute system" proceeding e.g. Arbitration, Conciliation between the Banking sector and Financial Institutions and borrowers and to settle disputes.

2. Rebuttal of Point 02 & 2.1 of CIT Order:

The Ld. CIT(E) rejected the approval u/s 80G application in view of non registration u/s 12AB but assessee trust is in appeal for grant of 12A before your Honor, so 80G must be granted on consequential to ITA No.627/JPR/2024.

3. Rebuttal of Point 3, 3.4 & 4 on commencement of activities of CIT Order:

The trust had filed all the replies of show cause notices within time on dated 13/14-2-2024 and 05.03.2024 by physically PB No.144-151 and online vide acknowledgement of reply now submitted to your honor. Hence there is no delay in reply of Assessee trust, they have already applied at Devsthan Vibhag , all formalities are completed and only now registration certificate is pending, which is also not required as decided by Hon'ble ITAT in case of APJ Abdul Kalam Education and Welfare Trust Vs CIT(E), Jaipur vide I.T.A. Nos. 567/JPR/2024 on dated 15.01.2025. So Ld. CIT(E) has wrongly rejected 80G registration as non-maintainable .

It was decided in similar case by the ITAT "B" BENCH, JAIPUR in case of APJ Abdul Kalam Education and Welfare Trust Vs CIT(E), Jaipur vide I.T.A. Nos. 567/JPR/2024 order Pronounced on 15/01/2025:

It was decided in similar case by the ITAT "B" BENCH, JAIPUR in case of Trehan Seva Bharti Charitable Trust Vs CIT(E), Jaipur vide I.T.A. Nos. 1027 & 1028/JPR/2024 order Pronounced on 15/01/2025:

It was decided in similar case by the ITAT "A" BENCH, JAIPUR in case of Ummat Human Help Sanstha Ajmer Vs CIT(E), Jaipur vide I.T.A. Nos. 854 & 857/JPR/2024 order Pronounced on 24/01/2025:

ITA No. 627 & 628/JPR/2024 All India Securitisation and Enforcement of Security Interest Association vs. CIT(E) "There is no law which is required to be complied with for achieving the objects of the assessee trust. Section 17 of the RPT Act, 1959 requires that trustees of the trust have to apply for registration of a public trust, however, there is no section in the RPT Act, 1959 which prohibits a trust to carry out its objects if it is not registered under the RPT Act, 1959. In our considered opinion, both the statutes have their own provisions and implications and none of them have overriding effect. Even if, the assessee trust is not registered with the RPT Act, 1959 and the concerned officials under the RPT Act, 1959 deems it necessary to get the entity registered under section 17 of the RPT Act, 1959, appropriate action can be taken and against the trustees of the trust. But this issue can't be a hurdle in getting registration before the Income Tax Department u/s. 12AB of the Act.

In view of discussion (supra), we do not find any force in the findings of the Ld. CIT (E), Jaipur while holding registration application untenable in the absence of registration under the RPT Act, 1959.

(c) In CIT v. Kids-R-Kids International Education & Social Welfare Trust [2018] 99 taxmann.com 384 (Punjab & Haryana), the Punjab and Haryana High Court held that the only requirement for granting registration under section 10(23C) (vi) is the satisfaction of the prescribed authority with regard to the genuineness of the activities of the assessee. Since the Principal CIT had not doubted the genuineness of the activities of the society, the Tribunal rightly directed the Principal CCIT to grant registration under section 10(23C) irrespective of non-compliance of the Right to Education Act, 2009.

(d) In Paramount Education Charitable Trust v. CIT [2015] 61 taxmann.com 283(Chandigarh - Trib.), the assessee-trust filed an application for registration under section 12A. Commissioner rejected assessee's application on ground that assessee trust was not registered under new Haryana Registration & Regulation of Societies Registration Act, 2012. The Tribunal held that aims and objects of assessee were of general public utility as well as to provide education and were covered by provisions of section 2(15). If the activities of assessee were charitable in nature, registration of assessee couldn't be denied merely on fact that it was not registered under Societies Act.

Our case is on same analogy as the assessee trust is already registered by Sub-Registrar, Jaipur and under process of registration under Rajasthan Public Trust Act, 1959(which is also not required as decided by Hon'ble ITAT in case of APJ Abdul Kalam Education and Welfare Trust Vs CIT(E), Jaipur vide I.T.A. Nos. 567/JPR/2024 on dated 15.01.2025) and 80G registration cannot be denied on this ground. So, the registration can't be rejected for non-registration under Rajasthan Public Trust Act, 1959 as the trust is charitable in nature.

4. Rebuttal of Point 5 of CIT Order:

The CIT Exemption has wrongly cancelled the existing 80G provisional registration dated 06.10.2021 whereas assessee has submitted the proper justification for regularization of the provisional registration. So, your honor is requested to kindly direct the CIT Exemption to grant the 80G registration as trust is doing genuinely charitable activities.

ITA No. 627 & 628/JPR/2024 All India Securitisation and Enforcement of Security Interest Association vs. CIT(E)

5. It was decided in similar case by the ITAT "G" BENCH, MUMBAI in case of Shri Surti Modh Vanik Jagruti Mandal, B-201, Mota Nagar, Sir MV Road, Andheri East, Mumbai Vs ITO(E), Ward-2(3) ITAT, Cumballa Hill, Tel Exchange, Mumbai vide I.T.A. Nos. 1315 & 1316/Mum/2023 order Pronounced on 27/07/2023 vide PB No. 34-41:

"In this case The CIT(E) had rejected the application for registration of Shri Surti Modh Vanik Jagruti Mandal under sections 12A and 80G the Income Tax Act, 1961. The primary reason for the rejection was that the Trust seemed to serve only a specific community - the Surti Modh Vanik Samaj. The CIT(E) cited that the aims and objectives were not 'genuine' and for the broader public but catered to a specific community, making it ineligible for the tax exemptions under the cited sections.The ITAT found that the CIT(E) has wrongly rejected the applications. The ITAT pointed out that the Ld. CIT(E) has not applied his mind while passing the impugned orders."

Hence in our case main objectives is doing charitable and general public welfare activities without any discretion of caste, color, Creed, section or sex in India so, our trust is charitable and as all our objects are genuine and for the broader public which can be clearly seen from Trust Deed Hence eligible for registration Under form 10AB u/s 80G of Income Tax Act 1961.

6. It was decided in similar case by the ITAT "Jaipur" BENCH, in case of Shri Parnami Panchayat 1, Parnami Mandir, Adarsh Nagar, Jaipur Vs ITO(Exemptions), Ward-1, Jaipur vide I.T.A. No. 14/JPR/2023 order Pronounced on 18/08/2023 vide Pb No. 42-61:

"Although the assessee trust, since past many years was registered under Section 12AA of the Act, however, such certificate during the course of reassessment proceedings was not traceable. Accordingly, benefit of Section 11 was denied by the AO, vide order dated 30.09.2017. Against the order of the AO, assessee trust preferred an appeal before the CIT(A). The said appeal was filed within stipulated time period i.e. on 16.11.2017. In the interregnum, the assessee trust again applied for registration u/s 12AA of the Act, which was granted by ld. CIT(E) on 27.10.2018, with effect from AY 2019-20. Before the ld. NFAC, it was submitted that since the assessee trust, before the order being passed by Ld. CIT(A), in the first appellate proceedings, for caption assessment year, had been granted fresh registration u/s 12AA of the Act, benefit of such exemption should be given even for the caption assessment year."

Our case is on the same analogy/ identical to the above case, trust has applied for re-registration so benefit of 80G should be granted for the relevant and earlier Assessment year under Sec 80G.

ITA No. 627 & 628/JPR/2024 All India Securitisation and Enforcement of Security Interest Association vs. CIT(E)

7. It was decided in similar case by the ITAT JAIPUR BENCHES,"B" JAIPUR, in case of Akhil Bhartiya Shree Khandal Vipra Mahasabha, Pushkar, Ajmer.Vs The ITO (Exemption), Ajmer. vide ITA. No. 345/JP/2018 order Pronounced on 07/01/2019. vide Pb No. 62-74:

The appellant trust, which obtained registration during the pendency of the appeal, shall be entitled to exemption under Section 11 and 12 of the Act. The registration under Section 12AA by itself does not offer immunity from taxation. The CIT (A) was not justified in taking a similar stand as the AO without considering the amendment to Section 12A of the Act.

This case involves an appeal filed by the appellant, Akhil Bhartiya Shree Khandal Vipra Mahasabha, against the order of the ld. CIT(A), Ajmer. The appellant trust is registered under the Rajasthan Societies Act on 27.10.1952. The trust applied for registration under Section 12AA on 19.01.2016 and was granted registration by the Ld CIT(E) on 08.07.2016. The ld. CIT(A) confirmed the additions made by the Assessing officer.

The provisions of Section 12A state that if registration has been granted to a trust or institution under Section 12AA, the provisions of Sections 11 and 12 shall apply in respect of any income derived from property held under trust of any assessment year preceding the aforesaid assessment year, for which assessment proceedings are pending before the Assessing Officer as on the date of such registration and the objects and activities of such trust or institution remain the same for such preceding assessment year. Therefore, the provisions of Section 11 and 12 shall apply for assessment year 2016-17.

Our case is on the same analogy/ identical to the above case, trust has applied for re-registration so benefit of 80G should be granted for the relevant and earlier Assessment year under Sec 80G.

8. It was decided in similar case by the ITAT JODHPUR BENCH : : JODHPUR, in case of Bhamashah Sundarlal Daga Charitable Trust, Bagree Mohallan, Bikaner - 334001..Vs The Commissioner of Income Tax-Exemption, Jaipur. vide ITA No.278/JODH/2023 order Pronounced on 10/11/2023. vide Pb No. 75-89:

"Therefore, in these facts and circumstances we hold that the Assessee had made the application in form 10AB within the prescribed time limit and hence it is valid application. Therefore, we direct the ld.CIT(E) to treat the application as filed within statutory time and verify assessee's eligibility as per the Act. The ld.CIT(E) shall grant opportunity to the assessee. Assessee shall be at liberty to file all the necessary documents before the ld.CIT(E).

Accordingly, the appeal of the assessee is allowed for statistical purpose. Since we have set aside to Ld.CIT(E), we do not intend to adjudicate each ground separately."

Our case is similar and also covered under ITAT cases Since we have filed application within time period and so cannot be rejected AND complied all the conditions required for registration under Sec 80G, So Assessee is eligible for registration Under form 10AB u/s 80G of Income Tax Act 1961.

ITA No. 627 & 628/JPR/2024 All India Securitisation and Enforcement of Security Interest Association vs. CIT(E)

9. In similar case, it was decided by the Hon'ble ITAT AMRITSAR BENCH, AMRITSAR., in case of Dharam Chandan Charitable Trust 313/1, Dr. Sham Singh. Vs. CIT (Exemption) Chandigarh The Commissioner of Income Tax-Exemption, Jaipur. vide ITA No.653/Asr/2019 order Pronounced on 26/04/2023 vide PB No.90-93:

"For registration u/s 12AA it is clearly stipulating that the ld. CIT(E) shall satisfy himself about the objects and the genuineness of its activities. The assessee made the payments in relation to charitable activities of trust. The ld. DR had not made any strong objection related to submission of the assessee and the evidence which are filed before the bench. We set aside the order of the ld. CIT(E) and direct to allow the registration of the assessee."

In our case the assessee trust has done all the activities of the trust within the objective of the Act. The documents submitted along with the application demonstrate that the trust is doing public welfare activities without any distinction of caste, colour, creed, section or sex in India. And to promote, practice, advise and help in upliftment of economic and financial health level of the Banking sector and financial institutions with respect to Indian Economy and to educate Banks and Financial institutions in making procedure for taking peaceful possession and sale of the secured asset etc. Hence your Honor is requested to grant the approval u/s 80G and justice should be imparted in the favor of assessee.'' It is also noted that the ld.AR of the assessee relied upon decisions of ITAT Jaipur Benches mentioned hereinabove on the similar issue praying therein that its case may also be set aside to the ld. CIT(E) for statistical purposes by giving one more opportunity to settle the dispute in question.

It may be noted that the ld. AR of the assessee has filed the paper book in relation to ITA No. 627/JPR/2024 and ITA No.628/JPR/2024 whose details are as under:-

ITA No. 627 & 628/JPR/2024 All India Securitisation and Enforcement of Security Interest Association vs. CIT(E) S. No. Paper book Particulars Page No.

1. Trust Deed dated 20.07.2007 with Amended Trust Deed dated 17.08.2021 1-19

2. Decision of Hon'ble ITAT "G" BENCH, MUMBAI in case of Shri Surti Modh 34-41 Vanik Jagruti Mandal, B-201, Mota Nagar, Sir MV Road, Andheri East, Mumbai Vs ITO(E), Ward-2(3) ITAT, Cumballa Hill, Tel Exchange, Mumbai vide I.T.A. Nos. 1315 & 1316/Mum/2023 order Pronounced on 27/07/2023

3. Decision of Hon'ble ITAT "Jaipur" BENCH, in case of Shri Parnami Panchayat 1, 42-61 Parnami Mandir, Adarsh Nagar, Jaipur Vs ITO(Exemptions), Ward-1, Jaipur vide LT.A. No. 14/JPR/2023 order Pronounced on 18/08/2023

4. Decision of Hon'ble TAT JAIPUR BENCHES, "B" JAIPUR, in case of Akhil 62-74 Bhartiya Shree Khandal Vipra Mahasabha, Pushkar, Ajmer Vs The ITO (Exemption), Ajmer. vide ITA. No. 345/JP/2018 order Pronounced on 07/01/2019

5. Decision of Hon'ble ITAT JODHPUR BENCH:: JODHPUR, in case of 75-89 Bhamashah Sundarlal Daga Charitable Trust, Bagree Mohallan, Bikaner 334001 Vs The Commissioner of Income Tax-Exemption, Jaipur. vide ITA No.278/JODH/2023 order Pronounced on 10/11/2023

6. Decision of Hon'ble ITAT AMRITSAR BENCH, AMRITSAR., in case of Dharam 90-93 Chandan Charitable Trust 313/1, Dr. Sham Singh. Vs. CIT (Exemption) Chandigarh The Commissioner of Income Tax-Exemption, Jaipur. vide ITA No.653/Asr/2019 order Pronounced on 26/04/2023

7. Balance Sheet, Income & Expenditure A/c and Receipts and Payments A/c for 94 F.Y. 2020-21

8. ITR, Computation, Balance Sheet, Income & Expenditure A/c, Receipts and 95-98 Payments A/c for F.Y. 2021-22

9. ITR, Computation, Balance Sheet, Income & Expenditure A/c, Receipts and 99-102 Payments A/c for F.Y. 2022-23

10. Devshtan Vibhag Form 6, Form 7 and Newspaper Cutting for registration as 103-106 charitable trust

11. Form 10AC under Sub clause (i) of clause (ac) of sub-section (1) of section 12A 20-22 vide Unique Registration Number AAITA7176ME2021201

12. Form 10A under sub clause (1) of clause (ac) of sub-section (1) of section 12A 23-26 vide acknowledgement no. 586198510270921

13. Form 10AB under sub clause (iii) of clause (ac) of sub-section (1) of section 12A 27-33 vide acknowledgement no. 475706040220624

14. Reply dated 13.02.2024 to CIT Exemption Show Cause Notice dated 11.02.2024 107-120

15. Reply dated 05.03.2024 to CIT Exemption Show Cause Notice dated 29.02.2024 121-125 with ledger accounts of charitable expenses

16. Proof of genuineness of activities as photographs of for conducting legal 126-129 awareness seminar

17. Form 10AC under Clause (iv) of first proviso to sub-section (5) of section 80G 130-132 vide Unique Registration Number AAITA7176MF20210

18. Form 10A under Sub-clause (A) of clause (iv) of first proviso to sub-section (5) of 133-136 section 80G vide acknowledgement no. 586198510270921

19. Form 10AB under Clause (iii) of first proviso to sub-section (5) of section 80G 137-143 vide acknowledgement no. 475764200220624

20. Reply dated 13.02.2024 to CIT Exemption Show Cause Notice dated 11.02.2024 144-149

21. Reply dated 05.03.2024 to CIT Exemption Show Cause Notice dated 29.02.2024 150-151 21 ITA No. 627 & 628/JPR/2024 All India Securitisation and Enforcement of Security Interest Association vs. CIT(E) 3.4. Per contra, the ld. DR relied on the orders of the ld. CIT(E).

3.5 After hearing both parties and perusing the materials available on record, we noticed that an application for registration u/s 12AB of the Act was rejected by the ld CIT(E) on the ground that the assessee is not registered under RPT Act, 1959 and in this regard, the ld. AR of the assessee stated at Bar that the assessee trust is in the process of applying the same before the competent authority and it is likely to get the same.

Therefore, in these circumstances, we restore the matter back to the file of the ld. CIT(E) with the direction that as and when the assessee trust produces the copy of the Registration under RPT Act, 1959 then the application of the assessee trust for registration u/s 12AB of the Act be decided afresh in accordance with law. The assessee is also required to submit the documents relating to genuineness of the activities with a view to resolving the dispute in question.

3.6 Since we have restored the appeal of the assessee with regard to the registration u/s 12AB of the Act to the file of the ld. CIT(E) for afresh adjudication, therefore, the outcome of appeal of the assessee u/s 80G of the Act is consequential in nature.

3.7 Before parting, we may make it clear that our decision to restore the matter back (supra) to the file of the ld. CIT(E) shall in no way be construed as having 22 ITA No. 627 & 628/JPR/2024 All India Securitisation and Enforcement of Security Interest Association vs. CIT(E) any reflection or expression on the merits of the dispute, which shall be adjudicated by the ld. CIT(E) independently in accordance with law.

4.0 In the result, the both appeals of the assessee are allowed for statistical purposes.

         Order pronounced in the open court on                     04/04/2025.


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(RATHOD KAMLESH JAYANTBHAI)                             (Dr. S. Seethalakshmi)
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1. The Appellant- All India Securitisation and Enforcement of Security Interest Association, Jaipur.

2. izR;FkhZ@ The Respondent- CIT(E), Jaipur.

3. vk;djvk;qDr@ The ld CIT

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