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2009 (12) TMI 13 - HC - Income TaxScope of the term property u/s 11 - 'Krishi Utpadan Mandi Samiti' – w.e.f. 1.4.2003 change in the scope status of local authority withdrawn - For this purpose, necessary applications were made under Section 12-A which were rejected by the Commissioner of the Income Tax department but the said registration was granted by the Tribunal vide its impugned order – held that - after April 1, 1984, even if there is some profit in the activity carried on by the trust/institution, so long as the dominant object is of general public utility, it cannot be said that the said trust/institution is not established for charitable purposes - the expression "property" used in Section 11 of the Act is of wide amplitude and it includes the business undertaking itself. - The word "property" in section 11 includes immovable and movable property like money, shares, securities etc. Therefore, where a trust/institution fulfills all the conditions mentioned in Section 12A/12AA, registration cannot be denied on the ground that some conditions of Section 11 and 12 are not fulfilled.
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