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d) Presently the Trust is managed by the Bank of India, Terminal Benefits Division at Head Office and the entire management is being done by the Bank employees on honorary basis. Even the trustees of the Trust are not being paid any remuneration for the same.

e) The bank of India Retired Employees' Medical Assistance Scheme managed by the Trustees covers retired employees of the Bank who have become member of the scheme and his/her spouse and on the death of member the spouse will continue to be covered under the scheme for reimbursement of medical expenses. Under this scheme the Bank is presently having 10,214 members and such members/ their spouse are extended the medical assistance including hospitalization expenses as and when necessary. This number is increasing periodically. The Corpus of the trust is raised out of one time lump sum contribution equal to 100% of the Basic Pay last drawn received from a retired employee/ spouse of the deceased retired employee and contribution received from Bank's Central Welfare Committee. The trust is earning interest on the fixed deposits. The trust applies its funds entirely towards reimbursement of Insurance Premium, Domiciliary Medical Expenses and Hospitalization Expenses to the members of the scheme.

10) She immediately drawn the attention of trustees and tax consultant to do the needful.

11) Accordingly an appeal against the rejection order was filed on 26th November, 2013

12) Hence there was delay in filing of an appeal by 2 years and 8 months.

13) I, on behalf of the trust, plead that the delay in filing of appeal may be condoned."

5. At the time of hearing, the learned representative for the assessee pointed out that the delay in filing of the appeal has taken place in two stages inasmuch as the appeal was actually filed on 26.11.2013 whereas the Affidavit of the Managing Trustee explains the delay of two years and six months only. As there was a further delay of two months in filing of appeal after the preparation of the appeal and the earlier Affidavit, another Affidavit was filed by another Trustee, Shri B.M. Wasaikar explaining further delay of two months. In sum and substance, both the Affidavits point out similar reason for the delay. It is canvassed by the learned representative that the Trust is set-up in terms of a Scheme formulated by Bank of India whereby financial assistance to meet the medical expenses incurred by its Members and their dependent spouse was sought to be provided. It is pointed out that all the Members of the Scheme are retired employees of the Bank. It is also pointed out that the Trust is managed by Bank of India, Bank of India Retd Employees Medical Assistance Scheme Terminal Benefits Division of its Head Office and the entire management is looked after by the Bank employees on honorary basis. Even the Trustees do not get any remuneration for looking after the affairs of the Trust. It is pointed out that the corpus of the Trust is raised out of a one-time lump sum contribution equal to 100% of the basic pay last drawn received from a retired employee and the contribution received from the Bank's Central Welfare Committee. The earning of the Trust is primarily by way of interest on fixed deposits which is applied entirely towards reimbursement of insurance premium, domiciliary expenses and hospitalisation expenses of the Members of the Scheme. It was pointed out that after the receipt of the order of the Director of Income-tax (Exemptions), the process of filing of appeal was under consideration and the officer looking after it got transferred on promotion and some of the officers retired on superannuation. Therefore, starting from March, 2011 when the impugned order was received and till November, 2013, the matter relating to filing of appeal could not attain finality. In this context, the learned representative not only referred to the averments made in the Affidavits, but also to the Paper Book wherein is placed a copy of inter-office memorandum of the Bank depicting the transfer of the concerned employee who was looking after the affairs of the Trust in the month of April, 2011. It has also been explained that the factum of non-filing of the appeal against the denial of registration came to be highlighted in October, 2013 when the then honorary office bearers were appearing before the Assessing Officer in connection with the assessment proceedings for Assessment Year 2011-12. When the Assessing Officer asked for a copy of the Certificate of Registration u/s 12A of the Act, it came to light that the impugned order of the Director rejecting the application for registration has not been appealed against.