Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2013 (5) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2013 (5) TMI 364 - HC - Income TaxEligibility for claiming deduction u/s 80G(5) - Assessee appeal against declining the request for exemption u/s 80G of the Act – Held that:- The issue has been examined that at the stage of registration and for exemption u/s 80G of the Act, the stated object of the trust is required to be examined. Whether the funds are properly applied or not, can be examined by the AO at the time of framing the assessment. Thus, the Tribunal has erred in law in refusing exemption to the assessee u/s 80G(5) of the Act. Assessee's appeal is allowed. Criteria for getting registration u/s 12AA of the Act - Revenue appeal against the grant of registration u/s 12AA – Held that:- The university is a body corporate and established for the cause of education. It is, thus, a Institution eligible for registration within the meaning of Section 12AA of the Act. In the earlier writ petition, a categorically finding has been recorded that the university has been established solely for educational purpose and not for profit therefore, it is a charitable institution read with Section 15(2) of the Act. In view of the said fact, the assessee was, thus, rightly found eligible to seek registration under Section 12AA of the Act by the Tribunal.
|