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2002 (4) TMI 32 - HC - Income TaxCharitable Purpose, Charitable Trust, Wealth Tax, Exemption - This trust is registered under se ction 12A(a) of the Income-tax Act, 1961. Its objects are charitable in nature within the meaning of section 2(15) thereof. The donations accepted by it are also entitled to exemption from income-tax in terms of section 80G of the Income-tax Act. In its wealth-tax return, the petitioner claimed exemption under section 5(1)(i) of the Wealth-tax Act, 1957, for the year 1976-77. However, the said claim was not entertained. An appeal preferred thereagainst was dismissed. - there is no manner of doubt that the petitioner would be entitled to exemption as prayed for by him.
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