Appellant Trust u/s 12AB
r.w.s 12A(1)(ac)(iii) terming the transaction of the Trust with other
Trusts as non-genuine ... erred in cancelling the provisional registration granted to the
Appellant Trust u/s 12AB r.w.s 12A(1)(ac)(vi) dated 27/10/2021
donation made by the
appellant does not affect the availability and genuineness of the claim made
by the appellant company as held by Hon supreme ... made by it to Navjeevan
Charitable Trust be not treated as non-genuine and corresponding claim of
deduction under section
Investor Protection Fund Trust
and consequently held that the claim of the appellant is
inadmissible because that single trade was a non-genuine
transaction undertaken
Gateway Financial Services Ltd.
M/s. Nishit Agarwal Beneficiary Trust
Pinky Agarwal
Pratik Agarwal Beneficiary Trust
received from the brokers only in instalments over ... with the
test of human probabilities, transactions have been held to be non-genuine, it is
highly improbable that share price of a worthless company
thereby evade the tax. The
Assessing Officer held the transaction to be non-genuine and is merely a device to
create a loss to cancel ... lower
authorities before concluding that the entire transaction to be non-genuine It is relevant
to consider the decision of the Hon'ble Supreme
Xavier Education Trust
St. Lawrence Educational Trust
23. Explanation 2(c) deals with a specified violation of ―any
activity‖ of the trust etc. which ... activity of imparting education, which
was not found to be non-genuine. Such activity was carried out in
accordance with the conditions subject to which
Investigation wing on some of the donors have conclusively proved
that the Trust indeed returned by donations in cash,"
4. During scrutiny proceedings, authorised ... search parties he has
treated that donation made by the assessee as non-genuine accordingly,
he disallowed the same.
6. Aggrieved, assessee preferred an appeal
Keenara Industries Private Limited vs The Income Tax Officer, Ward 1(1)(3), ... on 7
Vivek Narayan Sharma vs Union Of India on 2 January, 2023
Author: B.R. Gavai
M/S Kays Jewels (P) Ltd , Kanpur vs The Pr.Commissioner Of Income Tax-I
