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1 - 10 of 25 (0.28 seconds)Section 12A in The Income Tax Act, 1961 [Entire Act]
Section 12 in The Income Tax Act, 1961 [Entire Act]
Section 80G in The Income Tax Act, 1961 [Entire Act]
Section 12AA in The Income Tax Act, 1961 [Entire Act]
The Assistant Commissioner Of Income ... vs Thanthi Trust Etc. Etc on 31 January, 2001
In the case of Assistant Commissioner of Income-Tax v. Thanthi Trust
(Supra), a trust was initially created on 1st March, 1954 to carry on the business
of newspaper. On July 9, 1957, the founder executed a supplementary deed
making the trust irrevocable and again on July 28, 1961, he executed another
supplementary deed directing that the surplus income of the trust shall be
devoted, namely, establishing and running a school or college for teaching
journalism; establishing and or running or helping to run schools, colleges or
other educational institutions for teaching arts and science; establishing and or
running or helping to run hostels for students or orphanages; and other
educational purposes. The question was whether the income of the trust was
exempt from income-tax under the Income Tax Act, 1961. Having regard to
section 13 (1) (bb) and Section 11 (4A) it has been held that in the assessment
years where the income of the newspaper business had been employed to
achieve its objectives of education and relief to the poor and the business of the
trust was incidental to the attainment of the objectives of the trust such income
would be exempted and for the year under consideration where the business of
the trust was for running of the newspaper and the business did not directly
accomplish,wholly or in part, the trust's objects of relief of the poor and education
has been held taxable. This judgement also does not help to the department.
Commissioner Of Income-Tax vs Shri Ram Memorial Foundation on 6 May, 2004
In the case of Commissioner of Income-Tax v. Shri Ram Memorial
Foundation (Supra), the Division Bench of Delhi High Court has held that the
donation of income to another charitable trust amounts to application of income
for charitable purposes.
Abdul Sathar Haji Moosa Sait ... vs Commissioner Of Agricultural Income ... on 7 August, 1973
In the case of Abdul Sathar Haji Moosa Sait Dharmastapanam v.
Commissioner of Agricultural Income-Tax, Kerala (Supra), the Apex Court
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has held that 3/4th income from property was primarily earmarked for the benefit
of the relatives of the testator and that part of the trust is not a public charitable
trust. This decision of the Apex Court has no relevance to the present case. In
the said case having regard to the facts it has been held that 3/4th of the income
from property was primarily earmarked for the benefit of the relatives of the
testator and that part of the trust is not a public charitable trust. No such situation
is present in the present case.
S.Rm.M.Ct.M. Tiruppani Trust vs The Commissioner Of Income Tax on 4 February, 1998
In the case of S. RM. M. CT. M. Tiruppani Trust v. Commissioner of
Income-Tax (Supra), the assessee was a charitable trust. Its objects were to
carry out Thiruppani or repairs to old Hindu temples, building new ones, giving
aid to or establishing hostels, educational and industrial institutions, etc. A trust
has utilized a sum of Rs.8 lakhs in purchasing building to be utilized as a hospital.
Such investment has been treated to have been made for charitable purposes.
The Commissioner Of Income Tax vs M/S.P.Iyya Nadar Charitable Trust on 20 February, 2006
In the case of Commissioner of Income-Tax v. P. Iyya Nadar
Charitable Trust (Supra) , the business of manufacture of safety matches was
being carried on. It has been held that the said business was not carried on in the
course of accomplishing primary object of the trust and, therefore, exemption on
the income earned from the aforesaid business has been held not exempted from
tax. This decision also does not help to the revenue as it does not apply to
present case as it is distinguishable on the facts.