A trust property

Mushtaq Husain Husaini (Querist) 21 April 2015 This query is : Resolved
A trust is having shops given on lease to outsiders. Can a trust purchase its own property by giving market price to the shop owner. If so how can it show in the books of accounts. Do we need to take permission of the Charity Commissioner to do so.????

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Devajyoti Barman (Expert) 21 April 2015
The trust must be owner of its own property. If that is so then where is need of re-purchase of it?
He can simply evict the current lessee and create a fresh lease.

Rajendra K Goyal (Expert) 22 April 2015
Any one can not purchase its own property.

T. Kalaiselvan, Advocate (Expert) 30 April 2015
What do you mean to say that a trust purchasing its own property?

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