Cancellation of registration u/s 12AB(4) denied - trust's ...

Trust's mutual fund investments from corpus allowed. Settlor's accommodation clause infructuous post death. Registration cancellation improper. Actual activities genuine. Order set aside.

Case Laws Income Tax

July 10, 2024

Cancellation of registration u/s 12AB(4) denied - trust's investments in mutual funds from accumulations and corpus donations, not borrowed funds - trust deed clause allowing settlor's accommodation became infructuous after settlor's death in 1965, not violating section 13(3) - investments in mutual funds to meet section 11(5) requirements - CIT(Exemption) cannot cancel registration merely based on trust deed covenants without examining actual activities - activities genuine and in accordance with objects - order set aside, appeal allowed.

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Cancellation of registration u/s 12AB(4) denied - trust's ...

Trust's mutual fund investments from corpus allowed. Settlor's accommodation clause infructuous post death. Registration cancellation improper. Actual activities genuine. Order set aside.

Case Laws Income Tax

July 10, 2024

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