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2017 (1) TMI 520 - ALLAHABAD HIGH COURT

2017 (1) TMI 520 - ALLAHABAD HIGH COURT - [2017] 391 ITR 386 - Renewal of approval under Section 80G (5) denied - as for the previous three years, the assessee has shown surpluses and, therefore, the CIT drew the conclusion that the activities of the assessee were in the nature of commercial enterprises and no charitable activity whatsoever was being pursued - Held that:- The word education utilised in the section stands independently on its own and to suggest that the word may be confined eithe .....

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tled to be granted exemption under Section 80G (5) of the Income Tax Act for the current year as it has been done in the previous year in view of the law and in view of the findings recorded. - Decided in favour of assessee - Income Tax Appeal No. 345 of 2010 - Dated:- 3-1-2017 - Hon'ble Bharati Sapru And Hon'ble Vinod Kumar Misra, JJ. For the Appellant : A.N. Mahajan (S.C.),Shambhoo Chopra For the Respondent : Gautam Baghel, S.D.Singh ORDER Heard Sri Praveen Kumar, learned Counsel for t .....

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tions of law sought to be answered are hereunder :- "(i) if the CIT comes to know that activities of the assessee's were not genuinely charitable one, he can cancel the registration in exercise of his powers vested u/s 12AA(3) of the Act and; (ii) question of genuineness of the charitable trust cannot be examined in assessment proceedings rather can be examined by the CIT and in case it is found, at any stage, that the activities of the trust are not genuine or that there is no element .....

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r was being pursued by the assessee. Being aggrieved by the order of the CIT dated 27.10.2009, the assessee filed an appeal before the ITAT and by the order dated 26.2.2010, the ITAT came to the conclusion that the assessee was entitled to be granted a renewal under Section 80G (5) of the Income Tax Act. The ITAT has referred in its order that the assessee fulfilled all the conditions laid down in clauses (i) to (v) of sub section 80G of the Income Tax Act, and, therefore, was entitled to be all .....

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o the facts that the assessee was running an educational institution. It has further been recorded that as per the provisions of Section 11(1) of the Act, 15% of the income could have been accumulated and the income for the running year could be accumulated up to 85% for a period of five years and if such income was applied for the objects of the institution within the next five years, it cannot be said that institution was earning the profit even if there have been surpluses. The surpluses in t .....

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