M/S FINGROWTH COOPERATIVE BANK LIMITED vs. ASSISTANT COMMISSIONER OF INCOME TAX

Bench: AUGUSTINE GEORGE MASIH,SAMEER JAIN

Charitable societies and trusts are not part of the estate of the testatrix which are managed by the respective managing committees and trustees of the societies or trusts. The companies are separate legal entities controlled by their Board of Directors and the affairs of the estate of the testatrix do not include the right to control the affairs

PR. COMMISSIONER OF INCOME TAX, AJMER vs. M/S NITIN SPINNERS LTD.

The appeal of the assessee is allowed

Bench: SANDEEP MEHTA,VINOD KUMAR BHARWANI

29:55 +0530 2 “Whether on facts & circumstances of the case, ITAT is correct in directing that approval u/s 80-G of Act to be allowed only due to existing of approval u/s 12 AA, irrespective of the finding of the CIT that the society is engaged in commercial activities and cannot be considered as charitable?” 3. The necessary facts