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Deputy Commissioner Of Income-Tax vs Cosmopolitan Education Society on 12 August, 1999

35. We may look at the issue from another angle. Insofar as the assessee-trust is concerned, the genuineness of the trust and the objects of the trust being charitable have not been disputed by the revenue authorities. Even if the principal and trustees have mismanaged or misutilised the funds of the school, as presumed by the revenue, we feel this cannot be a ground for denial of exemption under section 10(22). The view taken by us is directly supported by the decision of the Rajasthan High Court in the case of Dy. CIT v. Cosmopolitan Education Society (supra) cited by the learned counsel. In the said decision the Rajasthan High Court observed at p. 495 of the reports as under -.
Rajasthan High Court - Jaipur Cites 2 - Cited by 15 - S V Patil - Full Document
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