Overseas Donations Clause Threatens 12AB & 80G Renewal: ITAT Mumbai

Shree Cambay Swetamber Visha Shrimali Jain Samaj Sahayak Trust Vs CIT (Exemption) (ITAT Mumbai) No proof of overseas donations, yet  overseas object clause puts 80G & 12AB in Jeopardy – Trust’s clean track record vs. Amended Law – Relief from ITAT- Allows fresh hearing Assessee trust, established in 1962 & registered u/s 12AA & 80G, appealed against the order of CIT(Exemptions)  which denied renewal of registration u/s 12AB &  80G. The denial was primarily on the ground that clause 3(c) of the trust deed permitted donations for students studying abroad, allegedly con...