registered in the name
of the trustees and further the amendment made in the trust deed is not
informed to the assessing officer ... further the
of the trust deed supplementary trust deed is dated 07.11.1989(page 68-71 of PB) and assessee trust
without providing was granted registration
terms
of Trust Deed contains the clause "funds
and the income of the Trust shall be
solely utilized for payments to Trust
Members ... profits would be distributed to the members
was deleted by amendment of the Trust Deed
on 23.2.2015 and such amendment was
discussed by the learned
represent any paradigm shift or substantive
amendment in law inasmuch as this amendment was stated
to be only consequential to similar restriction now placed
under ... activity for
profit" from the definition. This amendment is
consequential to the amendment made
order in writing cancelling the registration of such trust or institution. Thereafter,
an amendment was made in this sub-section ... termed as a procedural
amendment then also a procedural amendment cannot be held as retrospective in
nature so as to be effective from an earlier
Supreme Court in the case of Children Book
Trust (supra), it lost sight of the amendment which had been carried out with
effect from April
being heard
by the Ld. CIT. The assessee trust made it clear that this amendment in object of memorandum in
2005 was due to change ... Delhi High Court decision in the case of Mool
Chand Khairati Trust (supra) is squarely applicable as the assessee amended the provisions, does
not change
which an amendment was
brought about in section 12AA(3) . Section 12AA(3)
reads as under:-
"(3) Where a trust or an institution ... such trust or institution are not genuine or
are not being carried out in accordance with
the objects of the trust or institution
objectives of the
trust or, as the case may be institution, and separate books of
account are maintained by such trust or institution in respect ... trust. Thanthi Trust ETC ( 247 ITR 785 ( SC)} The Hon'ble
Supreme Court in the case of Thanthi Trust did not allow
exemption from
being heard by the ld.
CIT. The assessee trust made it clear that this amendment in object of
memorandum in 2005 was due to change ... Delhi High Court
decision in the case of Mool Chand Khairati Trust (supra) is squarely
applicable as the assessee amended the provisions, does not change
of2008 dated 19.12.2008:-
"2. The following implications arise from this amendment-
2.1 The newly inserted proviso to section 2(15) will not apply ... treated as
income of the assessee trust and taking into consideration the
submissions of the assessee and the amendment effected to section
