Education trust disbursing loans
This query is : Resolved
22 January 2016
Dear experts please explain the possible repurcussions arising in case of an education Trust disbursing huge loan to private persons which is not in conformity of the objects of the trust deed.
23 January 2016
It amounts to breach of trust
23 January 2016
What may be the consequences of this. Can benefit of 12A and 80 G given to the trust be revoked by CIT.
23 January 2016
What may be the consequences. Can the benefits given to the trust u/s 12A and 80G of Income Tax Act be revoked by the concerned CIT.
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