https://www.taxtmi.com/caselaws?id=233779 A university established under a statute and carrying on educational activity was treated as a body corporate created solely for education and not for profit, bringing it within the scope of charitable purpose for registration under Section 12AA of the Income-tax Act. At the registration stage, the genuineness of the objects was the relevant test, so the revenue's objection was rejected. For approval under Section 80G(5), the decisive inquiry was the nature of the stated objects, not the subsequent application of funds or speculative concerns about future misuse or dissolution. On that approach, refusal of approval was held unsustainable and partial relief was granted to the assessee. en-us Thu, 02 May 2013 00:00:00 +0530 Wed, 15 May 2013 11:56:00 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=233779 A university established under a statute and carrying on educational activity was treated as a body corporate created solely for education and not for profit, bringing it within the scope of charitable purpose for registration under Section 12AA of the Income-tax Act. At the registration stage, the genuineness of the objects was the relevant test, so the revenue's objection was rejected. For approval under Section 80G(5), the decisive inquiry was the nature of the stated objects, not the subsequent application of funds or speculative concerns about future misuse or dissolution. On that approach, refusal of approval was held unsustainable and partial relief was granted to the assessee. Case-Laws Income Tax Thu, 02 May 2013 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=233779