view that the assessee could not apply 75% of income towards charitable purposes. However, the assessee sought the accumulation of income Under Section ... only when there is short application of income towards object of a charitable or religious trust. Therefore, unless the income of every assessment year
dispute that
the Trust was constituted on 6.1.1955, which was also
registered as a Public Charitable Trust vide certificate
dated 20.6.1955 issued ... also not in dispute that the objects
of the Trust are for religious and charitable purposes. It
is also not in dispute that the income
dissolution of the association to a similar
association or to a charitable trust, does not lead to a conclusion that the
assessee would ... head note) :
"The intention of the donor-trust as well as the donee-trust was to treat the money as
capital to be spent
Essar Investments Ltd. vs Dy. Cit on 22 May, 2007
ORDER
G.E. Veerabhadrappa, Vice
Indian Petrochemicals Corporation ... vs Assessee on 26 November, 2007
IN THE INCOME TAX APPELLATE TRIBUNAL
Pirojsha Godrej Foundation , Mumbai vs Assessee on 10 December, 2007
ITA No. 1976/Mum/08
12AA(1)(b) , a trust is to
be registered is the Commissioner is satisfied about the
objects of the Trust and the genuineness ... satisfied. In view of the above, I refuse to register
the applicant trust."
5. Aggrieved by the order of the DIT(E), the assessee
Tolani Pvt. Ltd , Mumbai vs Assessee on 16 August, 2007
IN THE INCOME TAX APPELLATE
