Trust Registration under section 12AA cannot be denied for Surplus Profit

CIT Vs D.N Memorial Trust (Jammu & Kashmir And Ladakh High Court)

The case of CIT vs. D.N Memorial Trust was brought before the Jammu & Kashmir and Ladakh High Court. The trust had applied for registration under Section 12AA(1)(b) of the Income Tax Act, 1961, seeking tax benefits as a charitable institution. However, the Commissioner of Income Tax, J&K, Jammu, refused the registration, citing that the trust had generated surplus (profit) from its total receipts, and thus, did not satisfy the requ

Please become a Premium member. If you are already a Premium member, login here to access the full content.