Thursday, 23 January 2014

CIT couldn’t deny trust registration due to winding-up clause in MOA which was in conformity with IT

IT : Where assessee-trust was registered as institution under section 25 of Companies Act, 1956 and winding up or dissolution clause contained in memorandum and articles of association was in conformity with conditions laid down under Act, Commissioner erred in refusing to grant registration under section 12AA to assessee


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