Minimum Public Offer Requirements set tiered issuer-based allotment minima with mandatory staged public shareholding increases and exchange enforcemen...
Disallowance under tax law for investment expenses cannot be applied mechanically; authority must record clear reasons before increasing assessee's su...
Applying the dominant object test, the Tribunal held that a trust whose deed showed education, scholarships, libraries and relief to the poor remained a public charitable trust even though it proposed Arabic, Islamic and Quranic instruction through a madarasa. Academic teaching of those subjects was treated as education, not religious worship, rituals or propagation, and the use of Islamic expressions or land linked to a masjid was insufficient to make the trust religious. The rejection of registration under section 12AB and approval under section 80G, based on that classification and unsupported by evidence, was set aside, and both benefits were directed to be granted.
Applying the dominant object test, the Tribunal held that a trust whose deed showed education, scholarships, libraries and relief to the poor remained a public charitable trust even though it proposed Arabic, Islamic and Quranic instruction through a madarasa. Academic teaching of those subjects was treated as education, not religious worship, rituals or propagation, and the use of Islamic expressions or land linked to a masjid was insufficient to make the trust religious. The rejection of registration under section 12AB and approval under section 80G, based on that classification and unsupported by evidence, was set aside, and both benefits were directed to be granted.
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