The CIT(E)\u00a0 has not granted the registration on the ground that\u00a0 lease agreement was entered in to by violating the conditions\u00a0 of Maharashtra Stamp Act, 1958 and Maharashtra Public Trust Act, 1950. On appeal the Tribunal held that the lease agreement was not registered as per the provisions of section 17 of the\u00a0 Registration Act,1908, violated the provisions of Maharashtra Stamp Act, 1958 as no stamp duty was paid.\u00a0 The Tribunal also held that the assessee has not obtained permission of the Charity Commissioner\u00a0 as per\u00a0 section 36(IA) of the Act. The Tribunal also held that the assessee has earned lease income which is not incidental to the object of the Trust. Order of CIT(E) is affirmed. Riled on Commissioner of Custms v.\u00a0 Dilip Kumar & Co(2018)\u00a0 95 taxmann.com 327 \/ 69 GST 239 (SC) (dt. 30-7 2018, Bihari Lal Jaiwar & Ors\u00a0 v. CIT\u00a0 (1996) 217 ITR 746\u00a0 (SC)\u00a0\u00a0\u00a0\u00a0<\/p>\n","protected":false},"excerpt":{"rendered":"
S. 12A : Registration-Trust or institution-Lease transactions-Business income-Lease agreement for 50 Years-Violation of Maharashtra Stamp Act, 1958 and Maharashtra Public Trust Act, 1950-Denial of registration is affirmed. [S.12AA(1), Maharashtra Public Trust Act, 1950, S. 36(IA), Maharashtra Stamp Act, 1958, Registration Act, 1908, S. 17] <\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"jetpack_post_was_ever_published":false,"_jetpack_newsletter_access":"","_jetpack_dont_email_post_to_subs":false,"_jetpack_newsletter_tier_id":0,"_jetpack_memberships_contains_paywalled_content":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[21],"tags":[],"class_list":["post-54257","post","type-post","status-publish","format-standard","hentry","category-income-tax-act"],"acf":[],"jetpack_featured_media_url":"","jetpack_shortlink":"https:\/\/wp.me\/p9S2Rw-e77","jetpack-related-posts":[],"jetpack_sharing_enabled":true,"_links":{"self":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/54257","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/comments?post=54257"}],"version-history":[{"count":1,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/54257\/revisions"}],"predecessor-version":[{"id":54258,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/posts\/54257\/revisions\/54258"}],"wp:attachment":[{"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/media?parent=54257"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/categories?post=54257"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/itatonline.org\/digest\/wp-json\/wp\/v2\/tags?post=54257"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}