9911796707
TMI Blog1979 (11) TMI 71X X X X Extracts X X X X X X X X Extracts X X X X ..... .--This reference under s. 256(1) of the Income-tax Act, 1961, hereafter " the Act ", relates to the assessment year 1972-73. The assessee is a company incorporated under s. 25 of the Companies Act. It is the trustee of a trust known as B.I.G. Mission, Kanpur Trust, which is a religious and charitable trust within the meaning of s. 11 of the Act. The affairs of the assessee are managed by the Luck ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... interest and rent. The assessee appealed to the AAC who confirmed the disallowance for the same reasons which had been given by the ITO. On further appeal, the income-tax Appellate Tribunal found that the assessee's claim was well-founded. According to the Tribunal, the assessee is a charitable and religious trust governed by the Charitable & Religious Trusts Act, 1922, and not by the Indian Tru ..... X X X X Extracts X X X X X X X X Extracts X X X X ..... ent of Rs. 10,000 made by the trust to its trustees as an admissible deduction ? " As noted above, the facts, found by the Tribunal were that the assessee is a charitable and religious trust and is governed by the Charitable and Religious Trusts Act, 1922, and not by the Indian Trusts Act, 1882. It could not be shown to us that there is any restriction placed in the Charitable and Religious Trust ..... X X X X Extracts X X X X X X X X Extracts X X X X
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