High Court held
that the trust should use their funds only for the charitable
object and they cannot be permitted to loan or deposit
funds ... employees and other
expenses are incidental and connected with the
objects of the charitable trust. The same,
therefore, cannot be disallowed. The learned
Commissioner
depreciation was
claimed by a charitable institution in determining
percentage of funds applied for the purposes of
charitable objects. It was observed ... regards
the claim of depreciation on fixed assets utilised for
charitable objects of the trust, he accepted the assessee's
claim on the basis
Hyderabad Race Club Charitable Trust,
262 I TR 194 (AP)
19. Mahesh Memorial Charitable Trust V CIT, ITA
No.906/Chd/2009 (I TAT Chandigarh ... view of the non-charitable object
10
appearing at object clause (t) alongwith various other
charitable objects. The ld. CI T placed reliance, on the
decision
Kamma Sangham
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complex is not the object of the assessee trust and its main object is to
establish educational institutions, providing boarding and lodging ... Race Club Charitable Trust , 262 ITR 194
(AP) wherein it was held that the objects of the trust were purely
charitable in nature. The main
such, no denying the
fact that the object of the Trust qualifies to be a charitable purpose under the Act. The
Revenue has, however, denied ... satisfaction with regard to the
objects of the trust or institution being for charitable purpose/s, that is the
basis upon which, or a condition
trust having similar objectives.
3. Copy of accounts of the period since the inception of the
Trust/Society or Last years during which the trust ... providing that
the funds /property of the trust will be used only for the
objectives of the Trust/Society.
5. A note on activities carried
assessee Trust stated that the Trust has no object or intention to build or
develop any Mandir/Temple and that the Trust will never construct ... Mishrilal Gordhan Lal
Batra Charitable Trust vs. Union of India & Another, 307 ITR 221 and Shri
Sardarmal Sancheti Charitable Trust vs. Union of India
charitable activities' with a certitude that surplus
so generated out of commercial activity are utilized for the charitable
objects of the Trust/Society ... Trust and any profits of any business/commercial activity carried out
by the Trust which is incidental to the objects of the Trust/Society
authorities have to find out that the objects of the trust are for the charitable
nature or not.
5. Ld. AR relied upon the judgement ... trust the CIT could only see that the objects of the trust were genuine
and no against public policy and activities of the trust were
similar objects.
2.1 The AO observed that whereas the object No.1 was religious, the
other objects were charitable in nature. The objects were thus ... good and charitable deeds and, therefore, it meant
involving in charitable activities. It was because of this object that the
trust was involved in conducting
