these
amendments also the object remained charitable and did not cause any
detriment to the original objects of the Trust.
5. The Revenue carried ... basis of the objects of the Trust recorded in the
original Trust deed dated 19.03.1969. The principal objects of the
Trust were education of students
canceling registration of the
Trust from inception. He referred to the objects of the Trust
contained in Trust deed which were all in the nature ... conducted in accordance with the objects of the
Trust and therefore, the Trust had lost the status of a charitable
organization. Its activities were being
benefit of
exemption should be denied to entire income of the trust and not
restricted only to the extent of income diverted in breach ... JOSHI itxa-764-2016.odt
whether the objects of the Trust were charitable and whether the person
to whom the loan was given
respondent assessee to other Trust having similar objects on the ground
that the income of the Trust was only of Rs.52.70 lakhs ... prohibits the Trust from donating a part of its corpus to another
Trust having similar objects for utilization to fulfill its charitable objects
used as
loan to other Trust of same objects without investing in modes
specified in section 11(5) of the Act even though there ... objection to the
Assessee-Trust- advancing loan to some other Trusts, carrying on same
charitable objects. Learned Counsel for the Assessee drew our attention
Respondentassessee is a registered Trust. Some
of the objects for which the Trust is registered are
as under:
Page 1 of 4
C/TAXAP ... general public utility and where for
charitable purposes. The main objectives of
the trust are to breed the cattle and
endeavour to improve the quality
donation made to be appropriated to the corpus fund of the
Trust. However, before the Commissioner [Appeals], the assessee
had placed a copy of letter ... income from the corpus fund can be
utilized for any charitable object of the trust."
In this view of the matter, CIT had deleted
Manubhai Lakhabhai Patel vs Shree Jalaram Bapa Charitable ... on 19 July, 2018
Author: Akil Kureshi
Bench: Akil Kureshi , B.N. Karia
C/FA/13916/2018 ... MANUBHAI LAKHABHAI PATEL
Versus
SHREE JALARAM BAPA CHARITABLE TRUST,MODASA THRO.ITS
MANAGINGTRUSTEE NARESHCHANDRA SHANKARLAL PAREKH
==========================================================
Appearance:
MR SAURABH M PATEL for the PETITIONER
advancement of any other object of
general public utility". Considering the
object and purpose for which the assessee
has been established under the provisions ... some length. The Tribunal observed that
income from properties held under Trust would have
to be arrived at in normally commercial manner
without classification under
expense towards the objects of
the trust in the income and expenditure statement
?"
2. Respondent assessee is a Trust claiming exemption
from certain income ... case of Commissioner of Income TaxIII, Pune v.
Rajasthan & Gujarati Charitable Foundation Poona
reported in [2018] 89 taxmann.com 127 (SC) in which
