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The HC allowed the appeal and directed registration of the trust under Section 12AA despite the application being made twenty years after execution of the trust deed. The court held that delayed application does not bar registration as no statutory time limit exists. It was determined that the trust's purpose of education qualified as a charitable purpose under Section 2(15). The presence of lineal descendants as life trustees managing the trust did not preclude it from being for public benefit, given the trust's activities and supplementary deed expanding trustee powers. Non-expenditure of 50% of income was not a ground to deny registration, as mandatory spending thresholds under Section 11 apply only post-registration for exemption claims. There was no evidence of income diversion for private benefit. Consequently, the trust met the legal criteria for registration under Section 12AA, entitling it to tax exemption benefits.
The HC allowed the appeal and directed registration of the trust under Section 12AA despite the application being made twenty years after execution of the trust deed. The court held that delayed application does not bar registration as no statutory time limit exists. It was determined that the trust's purpose of education qualified as a charitable purpose under Section 2(15). The presence of lineal descendants as life trustees managing the trust did not preclude it from being for public benefit, given the trust's activities and supplementary deed expanding trustee powers. Non-expenditure of 50% of income was not a ground to deny registration, as mandatory spending thresholds under Section 11 apply only post-registration for exemption claims. There was no evidence of income diversion for private benefit. Consequently, the trust met the legal criteria for registration under Section 12AA, entitling it to tax exemption benefits.
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