business activities are incidental to
the attainment of its objective. The charitable or religious trust
will no longer lose complete exemption from income-tax.
However ... thought to the effect "However, if the object of the
trust is advancement of an object of general public
utility and it carried
trust on 15.05.2015 as the aforesaid
trust was founded by Sh. Kapil Khanna, a businessman, on 12.03.2015
as a public charitable trust.
The main objects ... under obligation to consider the objects of the trust which
are available in the trust deed itself. Even otherwise, the concerned
Revenue Authority was empowered
been held that when a charitable Trust donates its income
to another Trust having similar objects, the provisions of Section ... bars donation by a charitable Trust to another
charitable Trust, out of accumulated income, from being considered as
application of income. However, as is patent
while granting
registration, has to satisfy himself that the objects of the trust are charitable and the
activities of the trust are genuine. However ... trust, whereas the application of
the income of the trust is not to be considered.
7. In "CIT vs. Vijay Vargiya Vani Charitable Trust
purpose of a trust, it is not necessary that one remains
confined to the objects of the society or the trust ... satisfied that the
objects of the trust, as set out in the deed of declaration, are charitable,
then having regard to the object
contains of the instrument
constituting the trust and only the objects of the trust has set out in the deed of
declaration only need ... cause of
charitable activities; that the trust did finds clear mentioned to the effect that the
trust fund will be used for charitable activities; that
high profit motive which not shows the charitable
activities of the assessee trust.
Grounds of Cross Objections No.19(Asr)/2016
(i) That ... view to grant tax benefit to genuine
charitable trust and societies carrying on genuine charitable objects in
the earlier years and which were fulfilling substantive
Exemption) has erred in giving a finding that the
trust is not doing charitable objects when assessee is running a
higher secondary school which ... High Court in the case of Dr. Maharaj
Krishana Kapur Educational Charitable Trust & Management Society vs.
5 ITA No.469(Asr)/2016
Asst. Year
been held that when a charitable Trust donates its income
to another Trust having similar objects, the provisions of Section ... bars donation by a charitable Trust to another
charitable Trust, out of accumulated income, from being considered as
application of income. However, as is patent
reference to objects of the society and genuineness of
charitable activities.
3. Registration u/s 12AA is hereby granted to the assessee trust on following
