CHINMAYA SEVA TRUST,NAGPUR,NAGPUR vs. CIT (EXEMPTION), CIT (E), INCOME TAX OFFICE, PMT BUILDING, SHANKAR SETH ROAD, PUNE
In the result, the appeal of the assesee is treated as allowed for statistical purposes
ITA 347/NAG/2023[2023-24]Status: DisposedITAT Nagpur08 Jul 2024AY 2023-24
Bench: Shri V. Durga Rao & Shri K.M. Roy, Accountant, Member
For Appellant: Shri Naresh Jakhotia, CAFor Respondent: Shri Rajeev Benjwal, CIT.Dr
Section 80GSection 80G(5)
2)(h) of the Income Tax Rules, 1962. (iii) As noticed from the financial statements, the entire expenditure of the trust is made on 'religious' objects whereas the trust has been mentioned as 'charitable' trust.
(iv) As per the balance sheets for the last three years major part of your funds are invested in FDRs / bank accounts without its utilization