https://www.taxtmi.com/caselaws?id=333909 Approval under Section 80G(5) of the Income-tax Act, 1961 cannot be refused by importing a condition from the Bombay Public Trust Act, 1950 where the trust otherwise satisfies the statutory requirements for approval. An alleged borrowing of funds without prior permission under Section 36A(3) of the Bombay Public Trust Act did not, by itself, disqualify the trust under the Income-tax Act, and the absence of cancellation proceedings under Section 12AA also supported the trust's genuineness for income-tax purposes. Approval under Section 80G was therefore justified. en-us Sat, 15 Oct 2016 00:00:00 +0530 Thu, 27 Oct 2016 10:03:25 +0530 TaxTMI RSS Generator https://www.taxtmi.com/caselaws?id=333909 Approval under Section 80G(5) of the Income-tax Act, 1961 cannot be refused by importing a condition from the Bombay Public Trust Act, 1950 where the trust otherwise satisfies the statutory requirements for approval. An alleged borrowing of funds without prior permission under Section 36A(3) of the Bombay Public Trust Act did not, by itself, disqualify the trust under the Income-tax Act, and the absence of cancellation proceedings under Section 12AA also supported the trust's genuineness for income-tax purposes. Approval under Section 80G was therefore justified. Case-Laws Income Tax Sat, 15 Oct 2016 00:00:00 +0530 https://www.taxtmi.com/caselaws?id=333909