TMI Blog2015 (10) TMI 1444X X X X Extracts X X X X X X X X Extracts X X X X ..... de inform from properties held under a trust for private religious purposes which does not enure for the benefit of the public. During the course of assessment, the AO is also empowered to exclude such receipts/income of the trust if he finds that any funds of the trust or institution are invested or deposited in any form or mode specified in sub-section (5) of Section 11. The AO is also empowered to exclude income of such trust from the provisions of exemption if he finds that such funds were utilized for benefit of any of the persons, who made substantial contribution to the trust or institution, any trustee of the trust or manager of the institution or any concern, in which any of the persons referred in clause (a), (b), (c) and (d) ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... he Trust Deed reveals that the applicant trust has charitable as well as non-charitable/ business objects such as the following :- E To create a culture among the elite class of the society for considering work of art an asset that can be passed on to the next generation with pride and prestige. F. to convert plays into .. episodes on TV H. to conduct classes or courses for the development of dramatic arts, including acting, stage settings and decorations, face painting and make up. M. To produce documentary films on social and cultural subjects and to exhibit them through T.V. or . N. To establish a mini academy to carry out any one or more of the above mentioned objects. S. To open, establish, maintain . Industrial ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... further appeal before us. 4. We have considered rival contentions, carefully gone through the order of the DIT(E) and found that registration was declined on the plea that the trustees enjoy full discretion to apply the income of the trust towards attainment of anyone or more of its objects including non charitable ones and there is no binding legal obligation on them to apply such income / trust funds solely for charitable purposes. We had carefully gone through the various object clause in the trustee deed and especially the object clause highlighted by the DIT(E) at page 1 of his order, however, nowhere we found that any of the object of the trust was for non-charitable one. The decisions cited by the ld. DR are distinguishable on fa ..... X X X X Extracts X X X X X X X X Extracts X X X X
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