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2010 (2) TMI 753 - AT - Income TaxRejection of or Renewal of exemption u/s 80G - Held that :- the assessee trust is working for charitable purposes in spite of the fact that the charges are very low as stated above still the assessee-trust showed some surplus because the assessee institution is a very old one and having a long experience in its field. - The observation of the learned CIT-I, Jalandhar regarding engagement of the assessee trust in profiteering rather than in charitable is baseless without any supporting evidence. Therefore, the same is not sustainable in the eye of law. - CIT has not recorded finding of violation of the provisions of Section 80G5(iii) read with Expln. 3 to Section 80G(5C). - Decided in favor of assessee.
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