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2015 (1) TMI 109 - HC - Income TaxRejection of approval u/s 80G(5) – Held that:- Following the decision in COMMISSIONER OF INCOME TAX RAJKOT III Versus VIPASSANA TRUST [2015 (1) TMI 63 - GUJARAT HIGH COURT] wherein the decision in NN. Desai Charitable Trust Versus Commissioner Of Income-Tax [1999 (5) TMI 11 - GUJARAT High Court] wherein it has been held that the inquiry should be confined to finding out if institution satisfies prescribed conditions as mentioned in Section 80G of the Act - at the time of granting approval u/s 80G of the Act, what is to be examined is the object of the trust and so far as the aspect of income is concerned, same can be very well examined by the AO at the time of framing assessment - the assessee-Trust was refused recognition only on the ground that it had not spent 85 per cent of the amount towards the objects of the Trust - the Tribunal committed no jurisdictional error in issuing direction to grant recognition to the Respondent-Trust u/s 80G(5) of the Act – as such no substantial question of law arises for consideration – Decided against revenue.
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