https://www.taxtmi.com/caselaws?id=259131 The High Court upheld the Income Tax Appellate Tribunal's decision, emphasizing the necessity of a dissolution clause in the deed of a charitable trust for registration under section 12(aa) of the Income Tax Act. The Court noted the presence of a dissolution clause in the respondent trust's deed, ensuring proper asset handling upon closure. Approval from the Charity Commissioner under the Bombay Public Trust Act would be required for trust closure. The appeal was dismissed, with no costs awarded, as the Court found the Tribunal's decision justified based on the inclusion of the dissolution clause in the trust deed. en-us Tue, 24 Mar 2015 00:00:00 +0530 Fri, 01 May 2015 06:09:38 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=259131 The High Court upheld the Income Tax Appellate Tribunal's decision, emphasizing the necessity of a dissolution clause in the deed of a charitable trust for registration under section 12(aa) of the Income Tax Act. The Court noted the presence of a dissolution clause in the respondent trust's deed, ensuring proper asset handling upon closure. Approval from the Charity Commissioner under the Bombay Public Trust Act would be required for trust closure. The appeal was dismissed, with no costs awarded, as the Court found the Tribunal's decision justified based on the inclusion of the dissolution clause in the trust deed. Case-Laws Income Tax Tue, 24 Mar 2015 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=259131