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
Saraswati Trust Vs. Union of India (2010) 194
Taxman 84 (HP) and Punjab and Haryana High
Court in Pinegrove International Charitable Trust V s.
Union ... exclusively to the
objects for which the applicant is established."
7. In the case of Pinegrove International Charitable
Trust(supra), the Punjab and Haryana
Trust had made an application for registration u/s 12A of the
Income-tax Act, on 23.3.2001 to the CIT, M.P., Bhopal. The
Trust ... application dated 19.8.08 holding that assessee trust is a
religious and charitable trust and its object are for the benefit
of particular community
both the authorities have not objected on
the charitable work of society that means they are satisfied
about the charitable activities of society ... excluded
form registration u/s 12A as its objects were both charitable
and religious. A trust which is for religious purposes only is
excluded
file certain details, mainly with
regard to registration of Trust under Public Trust Act . As the
assessee could not comply with this requirement, the
registration ... required to satisfy regarding
genuineness of Trust and charitable and religious nature of
its object clause. The fact that the assessee has also obtained
registration
credited or paid to any trust or
institution registered under section 12AA or to any fund
or institution or trust or any university or other ... that sub-sec. to charitable or religious
purposes out of accumulated income meaning thereby
the society/institution or the trust, as the case
credited or paid to any trust or institution registered under section 12AA
or to any fund or institution or trust or any university or other ... year in which such trust or institution was
dissolved.]
(4) For the purposes of this section "property held under trust" includes a
business
assessment proceedings also. The objects of the
institutions/trusts/societies to whom the amount was donated
are having similar objects. Even otherwise, the application ... reliance upon certain judicial pronouncements like Addl.
CIT vs. ALN Rao Charitable Trust (1195) 216 ITR 697 (SC).
The assessee further finds support from
TIRUPPANI TRUST vs. CIT , 230 ITR 636 (S. C.)
( C) CIT vs. Janmabhumi Press Trust , 242 ITR 703.
( D) CIT vs. Institute of Banking ... also held that object of the assessee institution were
charitable within the meaning of provisions of Section
