80G Cannot Be Denied Merely Because One Object Seems Religious – ITAT Says Check 5% Rule & Facts Properly

Sthanakvasi Jain Sangh Jivrajpark Vs CIT (Exemption) (ITAT Ahmedabad) 80G Cannot Be Denied Merely Because One Object Seems Religious – ITAT Says Check 5% Rule & Facts Properly Assessee Trust filed an application seeking final approval u/s 80G(5). CIT(E), Ahmedabad rejected the application & also cancelled the provisional 80G approval, holding that (i) the objects of the Trust were religious in nature, & (ii) expenditure on religious activities exceeded the 5% limit prescribed in Section 80G(5B). Assessee contended before Tribunal that it is a composite trust having charitable obj...