TMI Blog2019 (1) TMI 1619X X X X Extracts X X X X X X X X Extracts X X X X ..... n 12AA? - HELD THAT:- The primary object of the Trust is to conduct work in area of research, studies, training, education, health etc. on a non-profit basis, only for charitable purposes. Tribunal examined these object clauses and found that the objects of the Trust were genuine and that the Assessee was not incorporated for profit motive. We do not find any error in the order of the Tribunal. ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... the territories comprised in India but encompass the whole world, thus defeating the very purpose of provisions of Section 12AA of the I.T. Act, 1961? 2 The Tribunal by the impugned order while allowing the Assessee's appeal made following observations in the context of the Revenue's observation:-. We have given a thoughtful consideration to the ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ( 2) No objects of the Company will be carried out without obtaining prior approval/ No Objection Certificate from concerned authority wherever required. ( 3) None of the objects will be carried out on for profit basis. A bare perusal of these objects of the company show that the company is incorporated for charitable purpose and it is ..... X X X X Extracts X X X X X X X X Extracts X X X X
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