M/S RAGHU NATH RAI MEMORIAL EDUATIONAL & CHARITABLE TRUST,MOHALI vs. CIT (EXEMPTION), CHANDIGARH

In the result, the appeal of the assessee is, therefore,

Bench: Ms.Diva Singh & Ms.Annapurna Gupta(Under Section (5)(Vi) Of The Act) Raghu Nath Rai Memorial Vs. The Cit(Exemption), Educational & Charitable Trust, Chandigarh. H.No.2350, Sector 71, Mohali. Pan: Aaatr6500J (Appellant) (Respondent)

5. The analysis of both the objects & activities of the applicant exemplify that the applicant is running educational institutions by charging fee and have also accumulated funds. It continued to add assets and kept claiming depreciation down the years to accumulate large surpluses. The purpose of legislature to include this section in the Act is to promote and encourage people