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N.V.VASUDEVAN, R.K.PANDA
Shri Shanmukhananda Fine Arts & Sangeetha Sabha – Appellant
Versus
Director of Income-tax (Exemption) – Respondent
N.V. Vasudevan, Judicial Member. - This is an appeal by Sri Shanmukhananda Fine Arts & Sangeetha Sabha Charitable Trust, (hereinafter referred as "Appellant Sabha") against the order dated 2-2-2011 of the Director of Income Tax (Exemption), Mumbai, (DIT) passed under section 12AA(3) of the Income-tax Act, 1961 (the Act).
2. The appellant Sabha is registered as a Society under the Societies Registration Act and also as a Charitable Institution under the Bombay Trusts Act, 1950. The Appellant Sabha was also granted registration under section 12AA of the Act.
3. Under section 11 of the Act Income from property held under trust for charitable or religious purposes, to the extent to which such income is applied to such purposes will not form part of the total income under the Act. In other words such income would not be taxable. One of the conditions for availing of exemption under section 11 of the Act is that the trust or institution has to make an application for registration of the trust or institution in the prescribed form and in the prescribed manner and such trust or institution should be registered under section 12AA of the Act. Registration under section 12AA of the Act wil
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