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2012 (12) TMI 241 - AT - Income TaxReject of application for registration of Charitable Trust u/s 12AA - Assessee is engaged in the educational field - Held that:- Nothing has been found out that assessee has been using the funds for the purpose other than that mentioned under the trust deed. CIT argued that Trust is run for commercial purposes and not for charitable purposes – all the surpluses were used in further expansion in the same or subsequent years Use of the surplus in further expansion of the same objects cannot be said to be proving that there is an object to make the profit by the trust. If any surplus results, incidentally from the activity lawfully carried on by the educational institution, it will not cease to be one existing solely for educational purposes. Direct the CIT to grant registration to assessee. In favour of assessee
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