2020 (6) TMI 437 - SCH - Income Tax

Exemption u/s 11 - Registration u/s 12AA denied - Tribunal was right OR not in overlooking the fact that in the absence of Dissolution Clause in the Trust Deed, the net assets of the Trust on its dissolution would be transferred to any entity / distributed among the trustees - as per HC partial expenditure which is not authorized by the Trust would not be itself lead to the Trust becoming nongenuine - HELD THAT - SLP dismissed.

Summary

The Supreme Court dismissed the special leave petition, stating that there was no reason to entertain it. The delay was condoned and the pending application was disposed of.