total gross annual
income then Goshala or a Panjarpole should be considered a
business trust within the meaning of rule 32(4) of Bombay Public
Bharat Diamond Bourse [(2003) 126 Taxman 365 (SC)
b. Shree Nashik Panchvati Panjarpole [(2017) 81 taxmann.com 375 (Bombay)]
c. Women's India Trust
Ashram
Goushala Trust (2014) 44 Taxmann.com 141 (Gujarat)
Shree Nashik Panchvati Panjarpole vs Director of Income Tax
(Exemption) (2014) 45 Taxmann.com 220 Mumbai
assessee also relied on the following
decisions :
a) Shri Nashik Panchvati Panjarpole V/s DIT(E) in ITA No.1198/Mum/2012
held, "that the object of establishing, maintaining, running and
helping gaushalas, panjarpoles for animals etc. is highly charitable".
4. The AO, after considering
