No Irrevocability Clause Required for Sec 12AB Registration – Bombay HC Quashes Rejection of Trust Registration

Chamber of Tax Consultants Vs CIT (Exemptions) (Bombay High Court) No Irrevocability Clause Required for Sec 12AB Registration – Bombay HC Quashes Rejection of Trust Registration Bombay HC dealt with rejection of 12AB renewal applications of multiple charitable trusts on grounds that: Trust deed did not contain irrevocability clause / dissolution clause Assessee marked “Yes” in Form 10AB- treated as false information / specified violation HC held: 1. No such condition in law: Sec 12AB requires satisfaction on objects, genuineness & compliance No requirement of irrevocability c...