Home Case Index All Cases Income Tax Income Tax + HC Income Tax - 2014 (8) TMI HC This
Forgot password New User/ Regiser ⇒ Register to get Live Demo
2014 (8) TMI 561 - HC - Income TaxGrant of recognition u/s 80G(5) - Whether the Tribunal is justified in law and on facts in directing to grant recognition u/s 80G(5) of the Income Tax Act to the assessee trust – Held that:- Following the decision in NN. Desai Charitable Trust Versus Commissioner Of Income-Tax [1999 (5) TMI 11 - GUJARAT High Court] - inquiry should be confined to finding out if institution satisfies prescribed conditions as mentioned in Section 80G of the Act - the Commissioner refused the application for registration u/s 80G(5) of the Act on the ground that in the past for some period the petitioner had not applied 75% of the income of the trust for the purpose of trust - in the past for some period the petitioner has not applied 75 per cent of the income of the trust for the purposes of the trust, therefore, the income of the assessee was liable to be included in the taxable income and the assessee did not fulfill the condition of s. 80G(5)(i) of the Act - it cannot be said that the Tribunal has committed any error in quashing and setting aside the order passed by the Commissioner refusing to grant recognition u/s 80G(5) of the Act to the respective assessee trust – Decided against revenue.
|