COMMISSIONER OF INCOME-TAX Vs. BRIHDARANYAK MANDAL

JUDGEMENT

(1.) THE Income -tax Appellate Tribunal, Allahabad, has referred the following question of law under Section 256(1) of the Income -tax Act, 1961 (hereinafter referred to as 'the Act'), for the opinion of this court: Whether, on facts and in the circumstances of the case, the Income -tax Appellate Tribunal was justified in holding that the income of the assessee -trust is exempt on the interpretation of the provisions of Sub -section (4A) of Section 11 of the Income -tax Act, 1961?

(2.) BRIEFLY stated the facts giving rise to the present reference are as follows:

(3.) DR . Ashwani Kumar, a Professor of Mathematics of I.I.T. Kanpur, formed a trust under the name and style of M/s. Brihdaranyak Mandal (Trust), Kanpur, with a sum of Rs. 11,000 through a trust deed dated January 25, 1988. The aims and objects of the trust were to educate the general masses about the ancient glory and cultural heritage of the country, to acquaint them with nature and environment, to impart them with Vedic education and to work for the spiritual upliftment of masses in general leading them to involve in social welfare activities. The trust was registered with the Commissioner of Income -tax under Section 12A of the Income -tax Act and had also been granted benefit of Section 80G, vide the Commissioner's order dated February 22, 1989, Originally, there were four trustees and two more were appointed in July, 1991.